pocketcomfort.com

Offshore bank account

Most importantly Pocket Comfort has specialist expertise and knowledge of the ever varying bank account opening and maintenance requirements of a wide variety of reputable international and offshore banks.

We assist with opening both the personal and business bank accounts. Numbered or coded bank accounts also are available.

The bank accounts can be opened in person or by mail.

Potential clients must understand that opening an offshore bank account is not a simple matter and can be time consuming. Some offshore and international banks may take longer than one month to open an offshore bank account from receipt of a completed bank account opening package. Consequently potential clients are encouraged to ensure that they provide us with a complete picture of themselves and their intended business activity. The shortest time period for the bank account opening by mail should take 10 days.

Offshore Account Opening Procedures

All the offshore and international banks we work with regard the prevention of money laundering and terrorist financing to be of the utmost importance, so do we.

Pocket Comfort does not seek to work with offshore banks which have low standards of compliance as, apart from our own desire to only work with reputable partners, the culture and business ethos of such offshore banks must be flawed.

Consequently the offshore and international banks we work with will seek to:

  • obtain evidence of our clients' identities;
  • identify the source of funds paid into accounts to ensure that such funds are not derived from criminal activity and to document evidence relating to source of funds;
  • monitor banking transactions to identify and forestall money laundering, risk assess each and every client.

We assits our customers in obtaining and preparing all these documents.

Typically offshore banks will require some or all of the following information to open and operate an offshore account for a simple offshore company which is owned by individuals (rather than a corporation, trust or other form of entity):

  • Certified proof of identity of owners, directors, account signatories and all parties connected with the offshore company. Acceptable proof of identity would normally include a passport copy;
  • Proof of residence of all parties associated with the offshore company. Acceptable proof of residence would typically include utility bill, an original bank statement or credit card statement.
  • Information relating to the expected annual income or asset base of the offshore company, the number of transactions per month, the geographic spread of the proposed business and the amount of money that will be left on deposit at the bank.
  • A description of the proposed business activity.
  • Documented evidence relating to source of funds, eg if a million dollars is to be paid into an offshore company's account, the bank will seek to obtain documentary evidence relating to the source of such funds in the form of a bank statement, contract or similar.
  • Some banks require clients to visit them on an annual basis.

If customer incorporates the offshore company with our assistance, we provide all the corporate documents in accordance to bank's requirements.

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