There are offshore banks accounts available from three different multinational banking institutions. These are HSBC, LLoyds TSB and Barclays. These banks offer offshore accounts in Sterling, US dollars and Euros. Such accounts are easy to open, convenient in use and absolutely safe to operate. Visit us to know more about How to open a Bank Account Malta.
There are several reasons why people decide to open offshore account. One of the main reasons is that developing countries are often characterized by political and economic instability, so people look for safer places to keep cash. In addition, by opening an offshore bank account you become client of a reputable multinational financial institution that provides additional safety and security in case of financial crisis.
In addition to security, offshoring often offers those banking products and services that are not available in customer's home country. Also in many instances people seek to save on taxes through offshore accounts. But in this case, you must be careful and ensure that through using offshore accounts, you are not violating your home country's legislation.
In the internet there are numerous sources on offshore banking, but they rarely discuss how to open offshore bank account. Rather they usually discuss its advantages, disadvantages, also what you are allowed to do and what you are not. These sources almost never discuss how you open one.Usually banks ask for following documents to open an account:
1. Bank application form filled out and signed by you;
2. A sample of your signature (some banks require this document to be certified by a public notary, some not);
3. Copy of your passport certified by a public notary;
4. A reference from your original bank for each signatory of an account;
5. Confirmation of your address;
The ways how to open an offshore bank account differs from one bank to another. The application form also varies. Some require it to be signed in front of the public notary, while some in front of bank officer, some do not have any of these requirements.