It utilized to be that opening an offshore bank account was complicated. You had been frequently required to travel abroad to go to the bank in individual, fill in numerous of paperwork, and pay hefty fees. It is not nearly as complicated these days in the event you know where to look, you don’t even have to leave the country. This is one of the priorities of SovereignMan.com, to provide high quality information on offshore banking.
SovereignMan.com is an online newsletter centered about protecting your privacy, structuring businesses and trusts overseas, and creating self-reliance and freedom inside your life.
Getting an offshore bank account where you store a part of your assets is really a way to diversify and not having all your eggs in one basket. This not only applies to not owning US-only stocks, but also to not getting all your assets in US banks. You will find numerous of officials on both Federal and State level with the authority and power to freeze your bank accounts, regardless of if they’ve evidence or are only acting on a “hunch”.
When you have some of one’s assets in a foreign bank account nevertheless, it is not almost as easy for US officials to obtain to your money. They will have to go via the government of an additional country to freeze your offshore account, but it is much more likely that they decide you’re not worth the trouble and rather go following an simpler target, like your neighbor.
The first step to opening a bank account these days would be to select a jurisdiction, and there are a couple of great options like Hong Kong, Singapore, Schweiz and Austria. All of these have a powerful banking history and while banking privacy is basically non existent in todays banking world some of these jurisdictions still provide some degree of privacy.
Google ‘offshore bank account’ and you’ll discover countless of businesses that will provide to set up a foreign account for you. Whilst that may be true, opening an account is just the very first step. The second most important step is compliance. Just simply because you move your assets offshore doesn’t mean you don’t have to report it, if you do not probabilities are you’ll end up behind bars.
SovereignMan.com offers high quality info about offshore banking and puts emphasis on complying with all required regulations. It guides you to the greatest banking jurisdictions and the best offshore banks to open an account at.
