How to open an offshore bank? - high interest offshore bank accounts
My boss told me that his right to open and deposit money offshore banks, such as the Cayman Islands and Barbados, because they have high interest rates (30% or more). I'm Filipino, 21, which is well in Baghdad, Iraq deserves. How do I open an account in these offshore banks? Do U Need to go there personally? What is make the minimum deposit? What are the pros and cons of opening an account with these banks?
Sunday, January 10, 2010
High Interest Offshore Bank Accounts How To Open An Offshore Bank?
1 comment:
Hello, I'm not really sure of the interest rates by 30%!
The Cayman Islands and other popular offshore countries are paying about 5%, maybe 7% (in Belize) by maintaining the value of a currency. If you are a large part of funds for deposits ($ 100k +) increase the rate could, if you long to leave without them (2 +) years, then could increase prices.
The main advantage is that the aliens to minimize the tax on your home country, but you will find upwards of $ 1,500 in annual fees for most packages offshore bank account (which usually forms a company to account for They mainly). If you do not see investing with money, true account of the operating assets (therefore, a tax-free growth of 10% + PA) and the introduction of a tax exempt trust their children's rights can negate the advantage of the account.
You should also know that each account is opened outside your tax home is technically get in the sea So when you open an account at HSBC in Hong Kong should be a tax-free interest them.
Different countries have different regulations, you need to open an account. Minimum deposits vary, but generally, $ 1,000 would be the starting point. As a member of ASEAN, would be able to open an account with a Hong Kong correspondence address only open - contact HSBC in Manila as a starting point. They have a good part of the coast is always very helpful when I spoke to them. You can point to places that you open an offshore account and you can arrange an introduction with the bank.
To open an offshore account in the Cayman Islands and Nevis, for example, to start a business (an LLC, the company probably will) usually belong you, but registered in the offshore jurisdiction. A bank account will be opened in the name of the company and will be typically connected in a position for a credit card or debit card. You need not attend in person and can be an agent for the whole (I recommend Dixcart - http://www.dixcart.com).
Attention will be cost of $ 1500one years for this type of installation (over the Cayman Islands), plus perhaps $ 50 per referral and additional fees for credit cards. You will find it worthwhile to pay money into a bank with more fame, and then invest that money in real estate, funds or stocks.
I hope that helps.
Matto
http://www.barefootinvestments.com
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