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OFFSHORE BANKING - PANAMA LEGAL CENTER
OFFSHORE BANKING Home / OFFSHORE BANKING
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HOW TO OPEN OFFSHORE BANK ACCOUNT? OFFSHORE BANKING PROVIDES IRON CLAD ASSET PROTECTION In this digital era, o shore banking is one of life’s essentials and it guarantees peace of mind for the account holder. Generally speaking, O shore Banking provides banking se same as domestic banking except that the o shore bank is located overseas outside your home country. For example, if you live in the USA, any bank outside U.S. is conside OFFSHORE BANK. Of course you have access to your account 24/7 and you can do all types of banking transaction remotely. Usually smart investors & high net worth individuals o shore banking since certain countries considered TAX HAVEN jurisdictions and o er Tax Exemption / Low Tax. For variety of reasons OFFSHORE BANKING is very popular and b discuss them in brief.
TOP 7 REASONS WHY YOU NEED TO ESTABLISH OFFSHORE BANKING? O shore banking is ideal if you try to achieve asset protection, estate planning and or operating an international business. Advantage of o shore banking is that, in certain juris Trusts are private and completely out of reach by domestic seizure. In addition, the funds and assets are tax exempt in TAX HAVEN jurisdictions. O shore banks operate exactly t as any domestic bank in your home country & they o er the same services. However the fundamental di erence is that OFFSHORE BANKING provides privacy, con dentiality exemption. Reason # 1 – ASSET PROTECTION: This is number one reason most people including high net worth individuals seek to open an OFFSHORE BANK ACCOUNT. Courts especially in are very busy sorting out thousands of civil litigation cases against wealthy individuals as well as corporations are pending. Once the case is decided one way or the other, ther a judgement and the judgement could be against the defendant or a company. At this time it is too late to act and the attorney for plainti will swiftly move to seize the assets, w the individual or company has in the USA depends on the amount of judgement. THERE IS NO WAY OUT AT THIS POINT and your assets will be taken away from you. For this r you have already established an OFFSHORE TRUST & BANKING in a “TAX HAVEN” jurisdiction, your assets will be safe and nothing to worry about. Reason # 2 – TAX EXEMPTION – Certain countries such as Panama o ers tax incentives to investors and do not impose any taxes on assets of foreign investors. Panama is very u tax exemption of assets and no other country would o er tax exemption to investors. Some countries or jurisdictions o er reduced tax rate however Republic of Panama jur o ers TOTAL TAX EXEMPTION to all foreigner’s assets. Just imagine, if you or your company makes millions of dollar per year and you DO NOT HAVE TO PAY ANY TAXES GOVERNMENT. This is just beautiful and do not exist except in PANAMA. Reason # 3 – ASSET DIVERSIFICATION – Financial planning and asset diversi cation Holding foreign currencies is necessary for for any nancial portfolio. Like the old saying: PUT ALL YOUR EGGS IN ONE BASKET. Any prudent investor needs to diversify its portfolio in terms of its holding as well as classi cation, etc. For example, in your portfolio, you m some stocks, bonds, treasuries, mutual funds. You may also diversify your stock holdings and have some technology stock as well as health care company stock, etc. So, as diversi cation is wise. Another argument could be that U.S. bank insures each account up to $100,000. and if you have in excess of this amount and for some reasons someth haywire, you’ll lose your life saving. So we recommend to have an OFFSHORE BANK and do o shore banking to reduce any nancial risk to your assets. Reason # 4 – PRIVACY, ANONYMITY & CONFIDENTIALITY – In this Internet age, cell phone applications and GPS, almost any where you go and do, the U.S. government is ale they follow you around round the clock. All your banking transactions are being monitored in the USA. Another words, there is no privacy & con dentiality in your personal or c account. Imagine, if a country can provide anonymity and privacy to you while you doing your transaction!. Again certain countries such as Panama have set up their banking system b SECRECY & CONFIDENTIALITY. So when you use Panama as your OFFSHORE BANKING jurisdiction, not only Panama does not impose any taxes on your assets or income derived fr assets but it protects your assets from seizure by predators while keep all your banking transactions private & anonymous. Reason # 5 – SAFETY & SECURITY – This topic must be in mind of everyone when banking in any country since political system varies in each country and we need to be sure assets remain safe and secured not only from litigation and seizure but also a bank collapse, economic melt down or political chaos due to geopolitical issues. Safety & security must be on the mind of every investor when dealing in any domestic bank or an o shore bank. For example a country such as Venezuela is going through economic melt dow
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political issues or country of Cyprus, few years ago, went belly up and some Cyprian banks went bankrupt and assets of investors went down the ame. We have studied many OF BANKS in many countries and found that REPUBLIC OF PANAMA o ers the safest OFFSHORE BANKING to foreign investors due to many reasons; country is a stable democratic system currency is U S dollar economy is very stable & growing no sign of in ation or political issues In addition banks doing business are very conservative stable and neve
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system, currency is U.S. dollar, economy is very stable & growing, no sign of in ation or political issues. In addition banks doing business are very conservative, stable and neve issue in terms of clients assets. Reason # 6 – REMOTE ACCESS – While doing o shore banking, you need to be sure that you can have access to your assets and be able to conduct any types of banking transactio your o shore account. We do not recommend that you open up an OFFSHORE BANK ACCOUNT in a tiny bank that is not capable of handling banking transactions remotely technology software is old and is not up to par. Today’s banking system have transformed and not only most large bank have MOBILE access and MOBIL APPS, you can make all transactions via your cell phone with pushing a few buttons remotely no matter where you are. This remote banking access is very important when opening a bank account in an country. We have found that most banks in Panama have adapted to the new technology and o er remote access and mobile friendly apps to accommodate their clients, n where they are. Reason # 7 – HIGHER INTEREST RATES – Last thing we consider is interest rate since nowadays U.S. Central Bank have been reducing interest rates to almost ZERO. Even though believe this type of interest rate is not sustainable for a long time, the economic environment at this time demands very low interest rate and banks can borrow from FEDS at almo interest rate. For this reason banks are o ering low interest rates to their clients whether in terms of mortgages or personal borrowing. We have found that U.S. banks competitive and pay a very low interest on any types of deposit while banks in other countries may o er higher interest rate for your saving and checking account. We recomm you check with any bank that you may consider to open an account and see their interest rate compares to an OFFSHORE BANK. Nevertheless, generally speaking o shore banks outside the USA o er better interest rates on your savings and assets. Learn more about HOW TO SET UP A FOUNDATION IN PANAMA? (https://www.panamalegalcenter.com/setting-up-a-foundation/)
We have been working and setting up o shore banking accounts for our clients since 2001. Our professional team of advisors wi you to open a secure o shore bank account with a reputable bank. A team of professionals with many years of experience in the banking industry will assist you to make sure all your questions asked and you have peace of mind and your assets We have the know-how and experience since almost all our clients are foreign investors. Our strategy is to set up CUSTOM MADE OFFSHORE BANKING SOLUTIONS for our client their need. We also entertain setting up Merchant Bank Account for corporations, small or large.
BEST COUNTRIES TO OPEN AN OFFSHORE BANK ACCOUNT? O shore banking has become an important issue in recent years and more people from North America and Europe have started looking into opening an OFFSHORE BANK acco reasons behind this surge could be explained as;
Increase in Local, State and Federal Government Taxes Government Invasion of Privacy Asset Protection Geopolitical issues No matter what the reason is when considering opening an OFFSHORE BANK ACCOUNT, you need to know where is the best place to open an o shore bank account. We have r many countries for opening an o shore bank and brie y summarize each country’s banking situation below:
SWITZERLAND: Switzerland used to be the best place to have an o shore bank account due to its secrecy laws. However about 10 years, IRS invaded the SWISS privacy laws and all foreign transactions made by anyone especially AMERICANS are reported immediately to the IRS. So we do not recommend for you to open o shore bank account in Switzerland. I fact, it is very risky for anyone especially Americans to open a bank account in Swiss banks for their reporting issues to American Government Agencies. CAYMAN ISLANDS: Cayman Islands is a very small country in the Caribbean region and used to have a good reputation as far as con dentiality and were know “Tax Haven” for everyone to stash their savings. They used to have an economic niche because they had con dentiality clauses to protect investor’s privacy. How Cayman Islands no longer considered a safe and secure place to do OFFSHORE BANKING due to their IRS reporting of their foreign account holders. SINGAPORE: Singapore is a fairly stable country with global nancial sector and it has the largest FREE TRADE ZONE for export and import. Most international banks have b and nancial activities in Singapore and it is considered a nancial hub. Opening an o shore bank account in Singapore is not risky however Singapore does not o er any CONFIDENTIALITY or ASSET PROTECTION to its clients. So we do not recommend Singapore as the best choice for opening an o shore bank account. BELIZE: Belize is a small Caribbean country and o ers some privacy to its foreign investors. Many foreign investors believe that Belize is an ideal country because of its p asset protection laws. When you’re opening a bank account in Belize, all terms & conditions as well as contracts are written in English. So de nitely this is an advantage fo investors since you d o not need a translator. There are two types of banks in Belize; LOCAL BANKS for Belize residents and OFFSHORE BANKS for foreign investors. So as a investors, you ONLY can open a bank account with an o shore bank. Once you open an o shore bank account in Belize, your funds are far more secure than they would USA. In case that you have a ongoing litigation or a judgement is rendered against you, funds accumulated in your bank account in Belize will be safe. IRELAND: Ireland is a European country that permits foreigners to open a bank account even though you may not be resident of Ireland. The Irish Credit Bureau (ICB) is credit agency of Ireland that does credit rating and their credit rating system is very di erent from the credit reporting agencies in the USA. Opening an o shore bank ac Ireland is not that di cult however you need to show proof of your residency in your domicile. There are no speci c bene ts to have an o shore bank account in Ireland. PANAMA: Panama is located in Central America and is well known known as ” TAX HAVEN ” jurisdiction in the world. Even though Panama banking system is a bit com Panama remains our BEST recommended place for opening an OFFSHORE BANK ACCOUNT. Below we will explain the main reasons, Panama is our choice for o shore ba follows:
BENEFITS OF OFFSHORE BANKING PANAMA OFFSHORE BANKING:COMPLETE GUIDE SAFE BANKING SYSTEM: Panama banks are well capitalized and safe and your money in Panama banks will remain safe and sound. You will have peace of mind when yo
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are in any bank in Panama. In addition, you could do remote banking and perform all types of transactions via your cell phone or Internet. CONSULTATION
BANKING SECRECY LAWS: Panama has established BANK SECRECY LAWS protecting the privacy of all bank account holders. The Panama banking secrecy la
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OFFSHORE BANKING - PANAMA LEGAL CENTER make it a crime for anyone to reveal any information about a customer’s account. ASSET PROTECTION: Because of the Panama secrecy law, your funds and assets will be protected and shielded from foreign creditors & judgement. Another words, o establish a TRUST or a COMPANY in Panama and transfer your assets to this TRUST, no creditor will be able to seize your assets that are held in the PANAMA TRUST. Pana provides an IRON CLAD protection for its owners, settlers and bene ciaries. The way it works is very simple; rst you set up a Trust in Panama, second you open a bank ac the name of your Trust in a bank in Panama, third you transfer funds to your Panama Trust. NO TAXES: Panama does not impose any type of taxes whatsoever to foreign account holders whether a corporate or trust account. For example, if you es company or set up a trust in Panama, all your funds and interest produced by such company is not subject to any tax. You can do business in the name of this Panama com over the world and generate millions of dollars of income for your company and will pay ZERO taxes to any Panama agency or government. The only type of tax that you pay is an annual xed franchise tax of $350.
PRIVACY & ANONYMITY: You may ask, WHY Panama is the best jurisdiction in the world? Our answer is very simple. When it comes to privacy, con dentiality anonymity, Panama beats all other countries and is rated NUMBER ONE PRIVACY PROTECTOR in the world. Just think about it for a second. We all need our priva we do not need other people and government agencies to go around and do a peek a boo in our personal a airs. For this reason, we feel Panama o ers the m privacy structure for number of reasons; ⇒There is no “piercing the corporate veil” in Panama. ⇒Panama bank secrecy laws are the best in the world when it comes to o shore bank accounts. If someone reveals information to a third parties, he is commuting a crime and could go to jail for that , ⇒Panama corporate secrecy law still exist. A Panama Corporations still can o er “Bearer Shares”, to its shareholders for complete anonymity and privacy. ⇒Panama has no mutual legal assistance treaties (MLAT’) for sharing of banking information with other countries. ⇒Panama Foundation law allows FOUNDATION, TRUSTEES and BENEFICIARIES operate and remain completely anonymous and private.
POLITICAL SYSTEM: Panama is a democratic country and its republic is quite stable. Panama’s economy keep growing and Panama Canal’s its self generate in e of $3. billion dollar a year of income. U.S. DOLLAR: Panama currency is the same as USA, U.S. dollar. FINANCIAL HUB: Panama is one of the major banking centers of America, with a modern banking system where clients can transact safely through the m sophisticated online Banking as well as through personalized banking. EXCELLENT REPUTATION: Banks in Panama has an excellent reputation worldwide being one of the countries with one of the fastest growing levels, with investment grades. In addition our major banks have excellent quali cations worldwide, resulting in one of the most stables and thriving economies in the worl INFRASTRUCTURE: Panama has one of the largest FREE TRADE ZONES which is located in COLON. In addition Panama has excellent infrastructure, transport & considered nancial hub of the Central America. TECHNOLOGY DRIVEN: Panama banks are sophisticated and they issue debit or credit cards to their clients for cash withdrawals or purchase. In addition, most Panama banks have Mobile Apps and you can conduct business banking anywhere in the world via your cell phone.
Learn more about PANAMA OFFSHORE MERCHANT ACCOUNTS (https://www.panamalegalcenter.com/o shore-merchant-accoun Did You Know O shore Banking Assist You With Asset Protection, Estate Planning?
HOW MUCH MONEY DO YOU NEED TO OPEN AN OFFSHORE BANK ACCOUNT? Generally speaking each o shore bank has its own policy for account opening & maintenance. You may nd 2-3 banks in the same o shore territory have di erent requireme only each o shore bank may require a di erent opening deposit payment, each bank has its own documentation requirement. So there is no standard rule for deposit when op o shore bank. We suggest that you contact an advisor in the country you wish to open an o shore bank account and inquire about documents needed as well as initial minimum Based on our experience, initial deposit of $1,000. U.S. dollar, you can open up an o shore saving account. We suggest that you open up a saving account and after account open can wire transfer additional funds to your OFFSHORE ACCOUNT and this way, you start saving as much as you can. Before you know it, you may have substantial amount of mon in your o shore bank account.
CAN YOU OPEN AN OFFSHORE BANK ACCOUNT? Of course, you can open an OFFSHORE BANK ACCOUNT in a foreign country and bene t from advantages of OFFSHORE BANKING. No doubt, each jurisdiction and each o shore b its own rules and requirements and you need to check for each country’s o shore banking laws and each bank for its banking requirement. For opening an o shore bank, you may need to provide the following information / documents:
A Valid Passport A Reference Letter From Your Home Bank Proof Of Residency Proof Of Income Or Pension Contact Information Such As Telephone, EMAIL, etc. In Person Signing Bank Account Contract Initial Deposit Driver License Or Other Form Of ID Income Tax Returns Source Of Funds Personal / Commercial References CONTACT US FOR MORE DETAILED INFORMATION FOR OPENING AN OFFSHORE ACCOUNT EMAIL US: info@panamalegalcenter.com
CHARACTERISTICS OF OFFSHORE BANKING
CHAT! FREE CONSULTATION O shore banks o er anonymity, privacy & con dentiality. In addition, o shore banks shields your assets from seizure by anyone located at home country. Legality – O shore banking is absolutely legal anywhere in the world.
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Legality O shore banking is absolutely legal anywhere in the world. Taxation – Ideal O shore banks located in jurisdictions that are tax exempt from interest & capital gains. A wide range of investment products may be available from o shore banks, especially from those o shore banks that have private client services. Generally speaking, interest rates at o shore banks are signi cantly higher than your local banks. For example,in Panama, few established banks o ering CDs at 3- 4%, while newer banks are paying as much as 4.5% on a 2 year CD. Of course, O shore Banking Rates quoted are as of the posting of this article an subject to change An o shore bank account is an indispensable tool for those conducting international business. Many multinational companies such as Google, Microsof Apple, Ford, etc. have o shore accounts in various countries to manage their huge amount of cash and holdings.
You can open checking
/ saving accounts in offshore banks and could receive master / visa debit or credit card. Most offshore banks are capable to m
Types of Offshore Banking Include:
Personal Banking - personal saving or checking account
Joint Banking - joint saving or checking account for two people
Corporate Banking - generally checking account for companies
Group Banking - Generally set up for employees of a company
We Assist You To Open O shore Bank Account In Panama Why Open An O shore Bank Account in Panama? First class jurisdiction for anonymity & privacy First class jurisdiction for tax bene ts First class jurisdiction for asset protection Ideal for diversi cation of investments. Exempt from domestic & foreign capital gains Country of Panama and its banks are stable, safe and secure. If you’re looking for an international hub for your business and investment, Panama o ers a great deal of nancial bene ts & advantages.
Learn more about HOW TO DO BUSINESS IN PANAMA? ULTIMATE GUIDE (https://www.panamalegalcenter.com/how-to-do-busin panama/) Panama Bank Secrecy Law The Panama law allows a Private Interest Foundation for estate planning purposes and it ensures all assets are protected under trust law of Panama. It is noteworthy to mention assets associated with a Private Interest Foundation in Panama are not subject to seizure by anyone. Panama has strict bank secrecy law and is illegal to disclose any informatio anyone’s bank account.
What We Do To Service Our Clients? Our O shore Banking Services: First and foremost to understand your nancial need in terms of o shore banking, asset protection strategy and investment objective. Once we fully understand your needs, we analyze and structure a tailored plan to cover your need o shore. Our plan of action may include; opening an o shor account, setting up a private foundation, setting up a company, etc. In addition, our rm can provides: nominee and director services. bank referral services, asset protection strategy and brokerage account assistance.
We strive to make sure you achieve your nancial goals, fully protected and your o shore account is in good standing.
(https://www.panamalegalcenter.com/contact-us/) FOR MORE INFORMATION, EMAIL US:
info@panamalegalcenter.com
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