Offshore Bank Account: Your Reliable Friend in the Financial World

If you have only one bag, what will you do if it gets lost or torn? Or you will need to carry more weight than it can handle? We all know that we definitely need different bags for different purposes – and one more just in case. Far-sighted people act in the same way when it comes to banks: it takes at least two bank accounts to keep your assets safe.

An account with a foreign bank is more than just a bag, of course. It may offer various opportunities (such as easier investments in international projects), higher interest rates, or quicker wire transfers. Foreign banks often propose better protection of your money against illegal seizure, currency devaluation, or a sudden tightening of currency control procedures in your homeland. If this looks appealing, we can help you open an offshore bank account online to double your current protection.

Banks usually offer the following types of accounts to their non-resident clients:

• Current (checking) account. You will need it for frequent withdrawals, deposits, or transfers. Most banks will require a minimum balance to be continually kept on the account.

• Savings (investment) account. As the name suggests, you deposit the money to keep it there for a long time. There is usually no opportunity to make daily transactions, but the interest rate is much higher than in the current account.

Of course, banks want you to use as many of their services as possible, so they will offer lower fees if you open two and more accounts: a current and a saving account, or a personal and a corporate one.

Can I open an account online or should I travel to the bank personally? – this is a question that our experts hear very often. Well, there is no need to be physically present at the bank! You will need a consultant to represent you and manage your affairs, but it will still take less of your time, money, and effort than personal involvement.

What is the consultant’s role?

• First of all, he knows how to achieve your goal as he’s been there many times. There are details (like the wording of documents or ways of communication with the bank) that are impossible to explain to the outsider as they simply take years of experience. In short, he knows how to handle it all.

• Second, banks are naturally cautious about the clients they don’t know, hence the numerous KYC (know-your-customer) checks that you will have to go through. However, the bank sees the consultant as a primary filter who does the initial checks for them and acts as a kind of trusted source. If something goes wrong, the bank will say to the authorities that the client came from a proven contact person, so the risks were minimized. And this is a very important thing to do for the bank.

As soon as the account has been opened, you will independently manage it online.

What countries do we suggest for banking? We will not hide that the Caribbean region is our favorite destination. We help our clients successfully open accounts there and always collect their feedback to adjust our recommendations and see whether the situation on the market shows any signs of change. We will give you a brief outline of the region here, with more tips on the Caribbean banks available on our portal.

The primary concern of the regional banks is privacy, and we will show you a practical example of how they fight for their clients’ confidentiality.

The Caribbean region has a central regulator, the Eastern Caribbean Central Bank, that was established back in 1983. Still, the best banks in the region that we will definitely recommend you do not work with this system as it requires more data to be shared with international organizations and institutions than if the bank remains independent.

The majority of Caribbean banks have their own regulations in place, which makes each of them a financial center in its own right. This fact allows them to be more flexible and independent, and ensure a high degree of privacy to their customers on an absolutely legal basis.

Note for crypto businesses: Caribbean banking is not the best choice for those who conduct major operations, like an ICO or running a crypto exchange. However, if the crypto traffic is modest, you can discuss it with a consultant as an optimal solution is sure to be found in this case.

Let’s take a brief look at some Caribbean jurisdictions.

If you make a google search, you will surely find a long list of officially registered banks in the region. Keep in mind, though, that not all of them are active and recommendable. You can look for updates at our portal by following the above links or just order a free individual session to choose a bank account that matches your needs.

Belize. This is a stable country with a well-regulated banking sector, and Caye International Bank Ltd. is a financial institution that we highly recommend.

Nevis. International Merchant Bank is the one we can recommend with confidence. However, it is rather picky when choosing businesses to take on, so you will need to tell our consultant what operations you conduct to check whether it can onboard you. Otherwise, this is a trusted partner you can rely on.

St. Lucia. The top on our list is surely Proven Bank, the oldest institution with a stainless reputation that offers really quick wire transfers both ways. The only drawback is that you cannot open an account quickly as the bank has its own conservative onboarding procedure.

We love the Caribbean – not just for its splendid landscapes but also for its banking services! And we can help you love it, too. Visit our portal to chat with our expert online!

BioGenerator is an evergreen investor that creates, grows, and funds innovative companies and talented entrepreneurs in the St. Louis region.