Opening an international bank account offshore can be a step towards expanding your business. Depending on where you wish to open a branch for your business, you can begin with an offshore bank account. This has an enormous amount of benefits for a business. And, we make opening an offshore bank account so easy that you don’t even have to physically present during the whole procedure.
Now, speaking of benefits, an offshore bank account allows you to work with different currencies. Also, you do not have to worry about risking your personal assets or funds due to currency conversion fees. Further, you can use different currencies while making any transaction through your credit or debit card. Also, you will have online banking facilities for yourself through which you can have non-stop access to your account remotely. Therefore, create an offshore bank account to be a part of a more secure and progressive management system. And, optimize the international diversification strategy that will protect you from financial and political risks.
At present, we live in a global age. Distance or national borders are rarely a matter of concern to those who wish to penetrate a foreign market. Opening an international bank account offshore can be a step towards just that. Whether your aim is to expand your business, participating in the global trade market, or simply utilizing a more pro-customer banking law, you need to search for offshore bank accounts with no visit required.
Moreover, with an offshore bank account, you can really enter a different market. And, we make opening an offshore bank account so easy that you don’t even have to physically present during the whole procedure.
However, opening a bank account, irrespective of the reason is a huge decision. So, you need to be informed before you take any step. And, you can take an informed decision only with sufficient knowledge.
So, we have jotted down the points you need to know regarding offshore bank accounts with no visit required. Just give it a read and you will find all the answers you need. And, if you need an agency to entrust the job with, we are here for that too.
What is an Offshore Bank Account?
An offshore bank account is a simple concept. It is a bank account that you create outside the country of your residence. In other words, it is a bank account that is formed and governed by a foreign jurisdiction.
So, let’s say you live in Canada and want to open a bank account in Switzerland. Then, it will be considered as an offshore bank account. Because you do not live in Switzerland or do not hold a Swiss passport.
Every country has different laws and policies for governing the financial sector, including banks. So, what facilities you get or how you open a bank account differs from place to place. And, this is where offshore banking makes a difference.
Now, when you open a bank account in the country of your residence, you get some benefits. Also, you have to go to the bank and open your own account. On the other hand, when you go for an offshore bank account, you get much more flexible banking laws. Also, you can open the account from your home, without visits.
The Best Destinations for Opening Offshore Bank Accounts with No Visit Required
Depending on where you wish to open a branch for your business, the benefits will vary. So, as you can begin your journey with an offshore bank account, you should pick the destination carefully.
The place you choose will have an enormous amount of influence on the benefits for a business. Also, not every country is so friendly to offshore consumers. Judging all the important factors, we have enlisted 10 countries below.
All of these are the best places for opening an offshore bank account –
The UK (England & Wales, Northern Ireland, Scotland)
The USA (all 52 states)
The British Virgin Islands
Now, all these 10 countries are tax havens. Also, banking is really safe and customer-friendly in these countries. So, if you have big financial goals, choose a country from the list. And, if you want a bank account for running a successful business, then the best two picks are the UK and the USA.
Benefits of Offshore Bank Accounts with No Visit Required
Now, speaking of benefits, an offshore bank account allows you to work with different currencies. Also, you do not have to worry about risking your personal assets or funds due to currency conversion fees. Further, you can use different currencies while making any transaction through your credit or debit card.
Also, you will have online banking facilities for yourself through which you can have non-stop access to your account remotely. Therefore, create an offshore bank account to be a part of a more secure and progressive management system. And, optimize the international diversification strategy that will protect you from financial and political risks.
Moreover, there are tons and tons of benefits. Let’s take a detailed look –
The first and foremost benefit you will be able to seize with your offshore bank account is the options in currencies. An offshore bank account means it will be a multi-currency account. In simpler terms, you will be able to do transactions in different regions or with different currencies.
So, you do not have to wait for the currency exchange or let your bank know beforehand when you receive international payment. This could be a great start if you are planning to go global.
No Currency Conversion Fees
You might have already known that when you receive an international payment, you have to let your bank know beforehand. The bank demands an explanation of why you received payment from a foreign country or in foreign currency. Also, after a certain amount, you have to pay a fee for currency conversion.
This particular rule often bars an entrepreneur from going global. However, if you own an offshore bank account, you will never have to pay any currency conversion fees. Also, the bank will never demand any explanation regarding the payment.
It will be, thus, beneficial for you both growth-wise and monetarily.
Relaxation in Tax
As an issue of concern, tax assessment enhancement is the main concern of most organizations that plan for going offshore. A high taxation rate causes individuals to wonder whether or not to open a bank account in their nation of origin.
On the other hand, opening an offshore bank account in a country with banking laws that are pro-customer, permits account holders to be qualified for a good expense rate – either a much-relaxed rate of taxation or even no tax by any means.
Hence, you can keep your cash far off from the assessment authority of the country in which you are as of now living, shielding it from over-the-top duty rates. And, this will help you manage your finances better and allow you to grow in less amount of time.
Another primary reason why opening an offshore bank account will help you change your financial scenario is the policies regarding asset protection. The countries that have been the prime choice for offshore bank accounts with no visit required are not simply because of relaxation of tax.
Asset protection is also an unavoidable benefit for a money-minded person. As your assets that belong to you are solely your property, these do not fall under the jurisdiction of the destination you picked for opening your offshore bank account.
Thus, even in the most unlikely scenario, if things go south and your money dries out, your assets will always remain protected. Moreover, the offshore bank that you have picked won’t meddle in or crock your property that you own in the country of your residence.
The Convenience of Banking All Day Long
Another key benefit of an offshore bank account is firmly connected with advantageous administrations. On the off chance that you do not wish to limit your business to a single nation, offshore bank accounts with no visit required could be just the thing you need.
Your business needs to go global for growth purposes. And, a huge part of going global is related to keeping your business open 24/7. As you know that there are different time zones, so limiting the business hours as per the bank hours of your country of residence can do many harms.
To overcome that barrier, an offshore bank account will be a decent decision. The primary reason behind this is that offshore bank accounts are effectively available from any place on the planet.
Also, offshore banking means more flexible banking hours. It gives account holders nonstop access paying little mind to whatever time zone you are living in. Additionally, numerous respectable banks permit account holders to enlist their records remotely.
Security of Money
While talking about banking, a person simply cannot ignore the security issues. Now, almost all the banks follow a strict security protocol for protecting the money of the common people. However, it is needless to mention that some banks are better at providing the optimum amount of security than others.
The economic scenario of a country determines the banking security. Therefore, a country with steady financial growth and a low rate of inflation will always be the better choice for banking. The jurisdiction under which a bank operates plays a significant role in how secured your money will be in the bank.
Because of this, certain offshore destinations like the UK, Switzerland, Mauritius, and so on are a better choice for banking.
Another advantage of offshore bank accounts with no visits required is by dint of protection of privacy and confidentiality laws. Numerous offshore banks have authorized several laws for corporate and banking classification. These profoundly put confidentiality and privacy protection for account holders a primary concern.
These offshore banks make sure the personal data of the account holder never gets disclosed. And any practices disregarding the privacy protection laws are considered a criminal offense. Hence, such acts prompt genuine results of punishment or even detainment in case of any breach of privacy or information leaks.
This level of privacy protection is something the banks of your homeland will not offer. Therefore, your personal information remains at risk under many circumstances.
Higher Rates of Interest
The countries that we have listed as the preferred location for offshore bank accounts with no visit required are called tax-havens. It is because along with relaxation in tax, the banks of those countries offer a higher rate of interest.
As the economy of many countries depends highly on foreigners who are bank account holders there, they offer a higher rate of interest. And, if you can get more interest by keeping the money in a different bank, it is an opportunity you should grab.
The Opportunity of Investment in Foreign Trades
Investing in stocks is a great way of rapid economic growth. And, in order to fully embrace it, one needs to enter the global scenario. Now, there are some restrictions and regulations on investing in foreign trades. And, one is related to the bank account a person owns.
If you have an offshore bank account, you can invest in foreign trade without any restrictions. So, it could be a great way for you to make some progressive financial choices.
Furthermore, all these benefits are applicable to the list of countries we mentioned earlier. Now, let’s see how you can create your offshore bank accounts with no visit required.
Set Up your Offshore Bank Accounts with No Visit Required
Do you wish to set up offshore bank accounts with no visit required? Activate Global Limited has just the solution for you. You can rely upon us for the job and we will deliver quality service within a short period of time.
In order to avail of our services, you can let us know about your requirements. We offer different modes of communication on our website. So, you can give us a call at our 24/7 helpline. Or, you can use the form on our website to contact us via email. Lastly, you can send us your query using the live chat window on our website.
Whatever the medium you choose, we are always available. And, we will answer to your query. Also, we do not charge for consultancy. So, if you are in doubt or need some expert opinion, then ping us.
Additionally, we do not only offer offshore banking but also related services. So, with us, you can get offers like offshore company formation, accounting and bookkeeping, Nominee Director, and much more.
Basically, we have the complete package that you might need. So, get in touch with us today and let us open a new door of opportunity for you.