Offshore bank accounts
- Thread starter JohnLocke
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Another newbie here. I live in a country in Asia that is very corrupt where politicians and people with power can easily make things difficult for my bank account account. I have already registered a Seychelles company but would need a offshore bank account for my business preferably in Hong Kong and possibly in Singapore. I have spent 3-4 months talking to HSBC and Hang Seng bank in HK to no avail. Any leads which Hong Kong or Singapore bank would allow me to open an account for Seychelles registered company?
Any idea where to find an introducer and which banks should I approach? I do have a HK accounting firm who tried to introduce my Seychelles company to HSBC and Hang Semg, both have not been successful
W
what are the options for a St. Vincent bank account? Will St. Vincent banks allow me to open a my bank account Seychelles registered company?
what are the options for a St. Vincent bank account? Will St. Vincent banks allow me to open a my bank account Seychelles registered company?
Thank you Ezequiel for giving me some ideas. In the meantime I want to exhaust all possibilities of opening a bank account in Hong Kong or Singapore if possible. I welcome any other idea that somebody might throw at my question.
No problem with getting an IBC the problem is opening a bank account either in Hong Kong or Singapore.
I wouldn't agree with this very general statement. Especially for the question at hand which sounds like pretty basic requirements. HK companies are expensive and come with a lot of extra hassle such as accounting and auditing etc. I generally only recommend HK companies if you have a high income and require the image of a jurisdiction like HK over a small tax-haven. In this case though the IBC is already incorporated in Seychelles so a HK company makes even less sense.
@Danny George getting a︀ HK bank account for a non-HK company is a long shot. They used to do︁ it but I've not heard of anyone successfully obtaining one for quite a while. I'm︂ sure there are rare cases but in general I wouldn't look at HK for your︃ Seychelles IBC's bank account. Singapore is a lot easier though still has some strict requirements.︄ For Singapore you can look at DBS, OCBC, possibly UOB to open a non-resident company︅ account. They do require a personal visit and the minimum balances of these accounts range︆ from $30k-$50k.
@Danny George getting a︀ HK bank account for a non-HK company is a long shot. They used to do︁ it but I've not heard of anyone successfully obtaining one for quite a while. I'm︂ sure there are rare cases but in general I wouldn't look at HK for your︃ Seychelles IBC's bank account. Singapore is a lot easier though still has some strict requirements.︄ For Singapore you can look at DBS, OCBC, possibly UOB to open a non-resident company︅ account. They do require a personal visit and the minimum balances of these accounts range︆ from $30k-$50k.
It seems to me that it is convenient to use offshore banks. The main thing is to find the right one.
A couple of years ago I used the services of a Cypriot bank (I will not disclose the name), where almost half a year could not withdraw money.
Then I got my money and changed the bank.
Now all the funds in Delta West Credit Bank. Convenient at reasonable prices. For the transfer - for 0.5% of the amount. They do not care where my company is in and what kind of activity it has.
A couple of transfers came a couple of days︀ later than necessary. but after problems with the Cypriot bank - this is not a︁ problem at all.
A couple of years ago I used the services of a Cypriot bank (I will not disclose the name), where almost half a year could not withdraw money.
Then I got my money and changed the bank.
Now all the funds in Delta West Credit Bank. Convenient at reasonable prices. For the transfer - for 0.5% of the amount. They do not care where my company is in and what kind of activity it has.
A couple of transfers came a couple of days︀ later than necessary. but after problems with the Cypriot bank - this is not a︁ problem at all.
neat.hk is working on becomming an HK based EMI (they have a HKD debit card and they are working on getting a current account for each account). They also will start beta testing a business offering later this year.
Neat Business - corporate cards & current account
So you might want to see if this will solve the HK bank account problem.
Neat Business - corporate cards & current account
So you might want to see if this will solve the HK bank account problem.
Switzerland and HK have a tax treaty whereby you effectively reduce the witholding tax on dividends from 35% to 0% (when you have a +10% stake in the swiss company), so there are business cases.
Even then it is difficult to get a HK bank account.
Nice starter: Applying To Hong Kong Banks? Results After Visiting 20︀ in 2 days (As an American Entrepreneur)
these guys are helpful: Bank Account Non Resident︁ Hong Kong
Even then it is difficult to get a HK bank account.
Nice starter: Applying To Hong Kong Banks? Results After Visiting 20︀ in 2 days (As an American Entrepreneur)
these guys are helpful: Bank Account Non Resident︁ Hong Kong
Hi ,
I've searched it in the topics but couldn't find exactly what I'm looking for.
I want to have an off-shore bank account but privacy is not important to me and I'm not a US citizen. I want to have private/investment banking if possible with banking advice. The reasons I want to wire money out of my current country are;
1. not to pay capital gain taxes
2. the banking system is getting unstable here.
So I want to have my money moved to a safer place where I would pay less or no taxes to invest in funds, bonds, or stocks/etfs. I hear︀ this all the time that really wealthy people move their money abroad and pay no︁ taxes. And my country doesn't have the resources or the laws to follow me and︂ and make me pay taxes. The money I have is completely legally earned and my︃ business is legitimate. I can visit the bank in person and deposit cash to open︄ an account.
So I would be glad if someone can point me to a general︅ direction(country, type of banking,etc) or to an even more specific way like recommending bank names.︆
I've searched it in the topics but couldn't find exactly what I'm looking for.
I want to have an off-shore bank account but privacy is not important to me and I'm not a US citizen. I want to have private/investment banking if possible with banking advice. The reasons I want to wire money out of my current country are;
1. not to pay capital gain taxes
2. the banking system is getting unstable here.
So I want to have my money moved to a safer place where I would pay less or no taxes to invest in funds, bonds, or stocks/etfs. I hear︀ this all the time that really wealthy people move their money abroad and pay no︁ taxes. And my country doesn't have the resources or the laws to follow me and︂ and make me pay taxes. The money I have is completely legally earned and my︃ business is legitimate. I can visit the bank in person and deposit cash to open︄ an account.
So I would be glad if someone can point me to a general︅ direction(country, type of banking,etc) or to an even more specific way like recommending bank names.︆
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