Offshore Bank Accounts
Where should the offshore company open a bank account?
Nowadays in the globalized world the exact location of a bank is less important than the choice of the bank itself. When choosing a bank, a number of questions should be considered. What are the services available at the particular bank? What are the costs? Will your company be able to maintain the minimum required balance or satisfy any other financial requirements for the account? What are the client acceptance prerequisites at the bank? Are there any requirements of the bank that may prevent your company from becoming its client? Is the bank in Your time zone or the time zone of your clients to be able to contact it at the time you need? Do they speak Your language? What is the quality of work ethics in the particular bank or in the jurisdiction of the bank in general as this may result in good service, quick and accurate work or, on the contrary, delays, mistakes and poor attitude.
All in all, there is no single answer as to the most appropriate location of an offshore bank account – it is always a compromise between your financial abilities, convenience and reliability.