Offshore Bank Account

It used to be that opening an offshore bank account was complicated. You had been often required to travel abroad to visit the bank in individual, fill in countless of paperwork, and pay hefty fees. It’s not nearly as complex today in the event you know where to look, you do not even have to leave the country. This is one of the priorities of SovereignMan.com, to provide quality information on offshore banking.

SovereignMan.com is an online newsletter centered about protecting your privacy, structuring companies and trusts overseas, and making self-reliance and freedom in your life.

Getting an offshore bank account exactly where you shop a part of your assets is a method to diversify and not getting all your eggs in one basket. This not only applies to not owning US-only stocks, but also to not getting all your assets in US banks. There are numerous of officials on both Federal and State level with the authority and power to freeze your bank accounts, regardless of if they have evidence or are only acting on a “hunch”.

When you have some of one’s assets in a foreign bank account nevertheless, it is not nearly as easy for US officials to get to your cash. They will have to go via the government of an additional country to freeze your offshore account, but it is more most likely that they decide you’re not worth the trouble and rather go after an simpler target, like your neighbor.

The very first step to opening a bank account today would be to select a jurisdiction, and there are a couple of good options like Hong Kong, Singapore, Schweiz and Austria. All of these have a powerful banking history and while banking privacy is basically non existent in todays banking world some of these jurisdictions still provide some degree of privacy.

Google ‘offshore bank account’ and you will discover numerous of businesses that will provide to set up a foreign account for you. Whilst that may be true, opening an account is just the first step. The second most significant step is compliance. Just simply because you move your assets offshore doesn’t mean you don’t have to report it, if you do not chances are you’ll end up behind bars.

SovereignMan.com offers high quality info about offshore banking and puts emphasis on complying with all required regulations. It guides you to the greatest banking jurisdictions and the best offshore banks to open an account at.