Posts Tagged multi currency bank account
Offshore to protect your assets !
Posted by peter in Cyprus Bank Account on January 3, 2009
All the services mentioned aren’t necessarily offered by every bank, most either lean towards retail services or private banking services. Retail services are generally economical and undifferentiated, while private banking services are more liable to offer a personalised group of services to the customer.
There are considerable remunerations to be acquired by moving your international business and assets to an offshore jurisdiction. If you are concerned about the possibility of a disastrous liability action being taken out against you or are an international trader and your income is raised from different countries and continents or maybe you are worried about how much your family will have to pay in inheritance taxes if you should die, then opening an offshore bank account can help with all these issues.
A bank reference will be needed from any personal bank account!
Posted by peter in Cyprus Bank Account on January 1, 2009
A bank reference will be needed from any personal bank account you currently have, this will be in the form of a letter and will be required from all the signatories, directors and shareholders of the account you are planning to open.
You also need to send the bank where you want to open the account a board resolution that choices the approved signatories. If you are hiring the services of an agency in your bank account application then they will be responsible for preparing this for you.
Once you have completed all the necessary documents and filled in the forms correctly ensure they are all signed and then they are to be sent together to the bank where you wish to open the account. Once your Cyprus bank account is open you can then make a deposit into it, normally this is in the region of 1,000 USD, 1,000 Euro or 500 GBP.
Any bank account opened in another country, apart from your own country, is considered an offshore bank account. Whether you are looking for a personal offshore bank account or a corporate offshore bank account the appeal of offshore bank accounts is the amount of tax you will save. Recently, rules and laws governing an offshore bank account have become a lot stricter. Any bank account holding over $1,000 USD has to be reported as income to the IRS, even if that bank account is located in a jurisdiction such as the Cayman Islands. Some companies and more affluent individuals choose to open an offshore bank account in the smaller sovereign states as they permit account holders to stay close to anonymous.
Continues at Cyprus Company Formation and Merchant Service Forum
Offshore Company Experts
