What's the latest status for offshore banks regarding approval?

[andreas]

Offshore bank account and approval what is the latest status is it going any better now?


Want to know? Since I have been aproaching many Agents and all of them tell me the banks are going crazy at the moments with their compliance stuff and ridiculous DD/KYC checks. They even request the clients for personal visit in some cases or video chat by Skype! So, can someone spot some light on what's going on there? and I don't just speak one offshore jurisdiction it seems it's all of them!!

Last edited by a moderator: Mar 25, 2016

 

[cyborg]

I would say it's all over the world the financial institutions and banks have to tighten and straighten their compliance with International laws to stay out of any responsibility if someone is doing something they should do.

 

[JohnLocke]

Indeed what we see at the moment is the banks taking more and more advanced of public records, DD and KYC documents and what business the client is into.

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[quickfix]

I have seen this as well in most of the jurisdictions I have been looking for. Even some Agent's told me just passport copy and bank statement is fine they fail to open the account, seems they are going nuts atm.

 

[cyborg]

I have seen this as well in most of the jurisdictions I have been looking for. Even some Agent's told me just passport copy and bank statement is fine they fail to open the account' date=' seems they are going nuts atm.[/quote']
You say it's not possible correct?
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[rotaro]

I read it possible but it's more complicated to get your bank account opened then before. It's a natural process that is going on seen in the spot what is going on in the world atm.

 

[JohnLocke]

I read it possible but it's more complicated to get your bank account opened then before. It's a natural process that is going on seen in the spot what is going on in the world atm.
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Maybe but in some cases I admit it's going too far somehow.

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[dany]

Got lot's of questions about my business when I applied for a bank account in Mauritius last week. I'm still dealing with it.

 

[agerba]

They are good in asking question and requesting documents now.. I'm opening account with a bank in Latvia, got a big list of information they want.