Open an offshore checking account.
Offshore checking accounts offer wonderful advantages over regular bank accounts. Offshore accounts often have better interest rates, are free of many taxes, are untraceable and are not bound by American laws. Offshore accounts are most commomly opened in Switzerland and the Channel or Cayman Islands. However, it is possible to open offshore checking accounts all over the world. Newest restrictions on offshore checking accounts include anti-terrorist laws and new tax regulations.
Instructions
1. Choose a country where you want to open an offshore checking account. Check the International Monetary Fund for warnings of bank failures and scams to help you choose.
2. Compare the offers and services of different banks. Call different banks or visit them online and find out more information, such as what fees you will have to pay and what the interest rates are. Ask them if there are any requirements for the depositors. Find out what bank policies they have and how much is their required minimum deposit. Most banks will require an initial deposit of between $10,000 and $100,000.
3. Pick the bank that has all the services you need, such as one with online banking or wire transfers.
4. Visit the bank or a local branch of the bank. Alternatively, visit the bank online. Ask for any documents that you need to apply for your offshore checking account. Fill out and submit all of the bank's mandatory forms.
5. Deposit the necessary amount of money into your new checking account once the account has been approved. You can now enjoy the services and privileges of your offshore checking account.
