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How to Open an Offshore Account in the Bahamas |
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The Bahamas has always had a reputation for being one of the world’s greatest getaway spots. It is also known as one of the world’s greatest haven for keeping and securing the cash assets of corporations, businessmen and individuals. It is a safe haven for offshore banking accounts, company formations, investments, brokerage accounts, and possibly all offshore services.
The beauty of an offshore account is that you don’t have to actually go to the bank to deposit or withdraw your money. These banks have global access via automated teller cards enabling you to debit or credit transactions on your account. In turn, you could do foreign currency exchanges or stock trading from and to anywhere in the world! With an offshore bank account in the Bahamas, you can also hold assets secretly and all the while transact your businesses tax free!
If you are interested in opening an account, you would first have to form an IBC or International Banking Corporation, which is typically processed in Nassau, Bahamas with the Registrar of Bahamas. Your offshore accounts will be opened in the name of this offshore company which has been incorporated in the Bahamas. Company formation before opening an account in the Bahamas is done mainly to secure your anonymity.
There are institutions or service providers that are primarily operating to help out companies interested in opening an offshore account and securing an IBC. They would facilitate the processing, certification, and preparation of documents necessary for opening an offshore account. Once all these documents have been approved, they will be sent to you with the list of Bahamian banks, brokerage and investment account documents. All you are left to do is choose the bank that you would like to open an account with and the service provider would do the rest for you. You need not actually go to Bahamas and open the account yourself. Once you have an account, you can manage this via the internet, mail and phone.
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