Offshore Bank Account Setup

Ensure everything you’ve worked for all your life is protected from financial crisis, frivolous creditors and out of control governments with an Offshore Bank Account.

Offshore Bank Accounts
 

What is an offshore Bank Account

An offshore (or foreign) bank account is simply a bank account you have outside of your country of residence.

 

The Basic Requirements

The basics of opening an offshore bank account are similar to opening a bank account in your home country. Offshore banks will ask for your personal information, such as your name, date of birth, address, citizenship and occupation.

To verify your personal information, you can expect to submit a copy of your passport, driver’s license or other identifying documents issued by a governmental agency.

Asset Protection

An offshore bank account also protects you from overzealous government agencies armed with the summary power to freeze your assets. That’s because their reach doesn’t extend beyond your country.

If you ever find yourself in a wrestling match with a government agency or a frivolous lawsuit, a foreign bank account give you resources you can count on.

Currency Diversification

Holding foreign currencies is a great way to diversify your portfolio risk, protect your purchasing power, and internationalise some of your savings.

Chances are, though, your domestic bank offers few, if any, options for holding foreign currencies.Offshore banks, on the other hand, commonly offer convenient online platforms for holding foreign currencies.

Is Having an Offshore Bank Account Legal?

Despite what you may hear, offshore banking is completely legal. It’s not about tax evasion or other illegal activities. It’s simply about legally diversifying your political risk by putting your liquid savings in sound, well-capitalized institutions where they are treated best.

It’s no secret that it is becoming harder and harder to open a foreign bank account. Soon it could be impossible. This is a strong incentive to act sooner rather than later – even if you don’t plan to use the account immediately.

BANK ACCOUNT PRE-APPROVAL SERVICE:

Raag Infotech Ltd has offered  its customers  the provision of  certain offshore banking accounts with each company which are pre approved. We are able to make this bold assertion because we’ve a proven track record of achievement of happy customers.

The Process

 

Request and complete the offshore bank account opening form to us by email or phone with scanned copy of passport. Once we’ve received your forms back we will review and contact you to discuss the best banking alternative for your needs. Whole procedure usually take 72 hours.

The use of this service allows us to make sure your application complies with latest international money laundering regulations.  Look upon the forms as a letter of discussion between us and you, our client. No information will be provided to any banks without your prior knowledge.

 

Is a visit required ? 

Visit to the bank is not required however establishing a personal relationship with bank manager is always recommended.  Personal visit is always recommended to keep the process Hassel free where corporate client is involved with complex or high value transaction. It is noticed that clients faced very few issues with their application who communicated successfully with their corporate bankers.

Apostle copy of all the documents is always recommended and required from bank with certified incorporation certificate, by laws and director’s resolution to open the bank account.

Documents Required

  • APOSTILIZED SET OF [CERTIFICATE OF INCORPORATION, MEMORANDUM & ARTICLES OF ASSOCIATION)
  • RESOLUTION TO APPOINT DIRECTOR
  • REGISTER OF DIRECTORS
  • REGISTER OF MEMBERS (SHARE REGISTER)
  • BYLAWS (IF ANY)
  • SHARE CERTIFICATE
  • CERTIFICATE OF GOOD STANDING (IF COMPANY IS OLDER THEN 1 YEAR)
  • POWER OF ATTORNEY (IF APPLICABLE)
  • DECLARATION OF TRUST (IF APPLICABLE)

Application requirements:

Credit score is not required for any of our accounts. Application rejection is possible only in two scenarios. Either any criminal record or business activities which is against the acceptance rule of bank.

We always ask our client to discuss or declare any problems before application which might be the reason for application decline. We are always here to assist you. Our approval rate is 99% and that’s too is quickly and hassle free.

Just provide us the following information:

  1. Detailed and concrete description of business, give a link to your website (if any).
  2. Your location and whether you can go to a meeting with a bank’s representative.
  3. Countries the business will be carried out in and countries for planned transactions.

Completion of Documentation Process

Whole account opening procedure take usually two weeks to, which is slandered time (if all the documents are in order) 1-2 months (if there is any delay in documents)

Please note ” we do not guarantee a successful account opening in any of our partner bank.

Account opening is based on the sole discretion of the bank application approval also depends upon the nature of the business, countries where business is conducted, background check of beneficial owner of the company, Personal profile etc.Which means that nay bank can decline the application at any stage without giving any reason, because every bank has their own internal clients DUE DILIGENCE POLICY.Successful application is not guaranteed; however we will increase your chances for a successful account by introducing your application to the alternate bank free of charge.

Identification Requirements

Data and documents required to open a corporate account:

Certified copy of a passport or government issued photo ID*

Certified copy of a recent utility bill (or original), or certified bank statement (with address), or certified government ID (with address) *

A bank reference letter (This is a letter from your bank on their letterhead confirming that your account with them is in good standing)

CV (resume)

Business plan or extensive business description

Company documents (if company is registered with us we will prepare everything necessary for the bank and will inform You about any related costs involved with documents provision to the bank)

Other documents (depending on the bank, they might request additional documentation to confirm business activity, relations with partners and contracts/agreements)

*A certified document copy is a copy (often a photocopy) of a primary document, that has on it an endorsement or certificate that it is a true copy of the primary document. We accept the following individuals and institutions for document certification:

  • Notary public
  • Apostille
  • Lawyer
  • Auditor
  • Law Enforcement Officer
  • Justice of the Peace
  • Regulated Financial Institution
For a company with nominee service analogous information on the attorney and the beneficiary of a company is to be provided