Discover the General Requirements for a Personal Offshore Account

Caye International Bank

Personal BankingThere is no shortage of reasons to want a personal offshore account. With a single account, you can boost the diversification of your portfolio, save money on your taxes each year or starting preparing for retirement.

Once you have decided where you would like to open up an account, and you’ve determined that you will require a personal offshore account, it is time to get started.

Explore the general requirements for a personal offshore account so that you can start taking full advantage of the benefits that it can bring.

Fill Out a Personal Application Form

The first and perhaps most important requirement for establishing a personal offshore account will be filling in the application form.

This will establish your goals for the account, and it might include questions regarding your anticipated balance as well as your anticipated number of monthly transactions. This is also the time when you can choose things like how you would like to receive your bank statements. 

Provide Original Reference Letters

When you open a personal offshore account, it is common for the bank to require you to supply one or more reference letters. These are verifications of your financial status as well as your standing in the world of investing, business or industry.

You may need to supply a reference letter from a previous or existing bank. This can be easily obtained by contacting that current bank and asking for a printed and signed letter. You might also need your application to accompany a professional reference letter.

This can be from anyone you know on a professional level, whether that is a boss, a colleague, a business associate or a supplier. It does not have to be long or complicated, but it serves as addiction verification for the bank where you want to open up a personal account.

Proof of Residence

If you want to open a personal offshore account, the jurisdiction where the bank is located may have some stipulations. If you want to open an offshore bank account in Belize, for example, you need to prove that you are not a resident or citizen of Belize. To show that, you’ll need to offer proof of your residence.

This can be something as simple as a copy of a recent utility bill that shows the current, out of country residence where you live.

Contact Information

Always expect that offshore banks will need several ways to get ahold of you. They may want your mailing address, the physical address of your residence, your email address and one or more phone numbers.

Banks will almost certainly communicate in your preferred method, but all of these details ensure that you’re always accessible in any financial situation.

Proof of Identification

Finally, you will need to prove your identification before you can open up an offshore bank account. To do so, you will need to have a notary sign a color copy of some document highlighting your identity. Typically, a passport is the best choice for this.

Following these steps can make it easier and more straightforward to open a personal offshore account, particularly if you’re hoping to do so through Caye International Bank in Belize. 

Contact us today and let us help you set up your personal offshore account.

 

This article is copyright © 2019 

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Caye Bank

Caye International Bank Limited (CIBL) was granted an Unrestricted "A" Class International Banking License on September 29th, 2003 by the Central Bank of Belize and is regulated by the Central Bank of Belize which set the standards for liquidity and capital adequacy.

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