To open such an account, you can find many providers on the web who can help you open an offshore bank account in a fairly simple way. These service providers are intermediaries, who will act as a link between you, the client, and the foreign bank. These intermediaries work with partner banks in order to be able to act as efficiently and quickly as possible.
These intermediaries will propose a list of countries with which they are used to working, and can advise you on which one will best meet your expectations. Each jurisdiction, and each banking institution, does not offer the same advantages and do not have the same disadvantages, some jurisdictions will be more suitable than others depending on the use you want to make of your bank account.
You will need to provide some administrative documents to the service provider, so that they can open your account. You will be required to provide a photocopy of your passport, proof of residence, and sometimes a document proving the origin of the funds you are going to deposit. A great classic.
It will obviously be necessary to provide for the payment of the intermediary's commissions, as well as, depending on the banks chosen, a minimum balance requested by the bank to open the account. This minimum balance can range from 0 euros to several thousand euros, depending on the regulations of the jurisdiction, the bank, the services requested...
All this is, for those who are familiar with opening personal or corporate bank accounts, perfectly classic. But be careful! While these providers are now numerous, they are not all very competent or perfectly honest! Opening a personal bank account online is in vogue, and this trend has seen a significant number of people flourish in this sector of profiteers and crooks who have only one idea in mind, which is to make you spit out as much money as possible or at worst to steal it.
You will therefore have to be more vigilant, not to rush into the website that will promise you the earth for ridiculous sums of money, but you will have to act with caution and choose with discernment the sites that will offer you these online personal bank account opening services. If you want our advice, it would be wise if you could take advice from people who have already used a particular service provider and who can recommend you with confidence.
If you do not act with common sense, it will be quite possible that either you will never see again any penny of the funds that have passed through the online intermediary, or that you will be very badly informed, and that everything will be a total fiasco. Because if your ultimate goal in this opening procedure is to hide funds so that they escape taxation, your anonymity and the whole procedure must of course remain discreet. Using a company that does not do things properly would expose you to the wrath of your tax administration.
In 2018, the governments of many countries, including France and Germany, plan to further tighten the level of control of offshore accounts. The money hidden by taxpayers represents very large sums of money, and the tax authorities intend to put an end to it. UBS and HSBC in Switzerland, Deutschbank, BNP, Danske Bank in Denmark who have helped taxpayers are already in the spotlight.
Thus, new control tools will be implemented this year at European level. The number of staff in the tax investigation units will be increased, as will their current capacity. It will also be possible to publish in the press the names of offenders. Persons or companies who have helped set up accounts or offshore companies may be concerned. A spontaneous declaration system will be placed so that taxpayers can declare their assets and thus benefit from a partial amnesty on the sums they will have to regularize by "pleading guilty". In short, the legal arsenal will once again be strengthened and it will be more and more complicated to open an offshore bank account, whether online or not. So it is really useful to question the real need to use an offshore account, as the risks are so high
Opening an offshore bank account online is an extremely simple procedure, but also extremely risky, both for the intermediary itself and for the tax authorities. This apparent simplicity further reinforces the dangerousness of the thing since, carried out from home, it can be done on a whim. Unless you benefit from the advice of specialists, who can find you the best jurisdictions and online banks where these online banking accounts are considered discreet and safe.
So, if you are entering one of the above-mentioned needs, you must be curious to know how to open this type of account using the Internet, consult us via the contact form, we will be happy to answer you.
But before seeing how to operate, it is absolutely necessary to remember that in order to comply with European legislation, it is absolutely essential that you declare to the Tax Authorities the foreign account or accounts that you will open.