Banking

Location independent entrepreneurs, global consultants, digital nomads, perpetual travelers, and offshore companies, to name a few, can experience challenges to comply with the elaborate requests of financial institutions to open and maintain a bank account and execute transactions. Since the beneficiaries of these banks accounts often reside in countries distinct from their banking relationships, and regulation does not always consider and support this lifestyle, this group of customers is often questioned by financial institutions and sometimes regulators. To avoid frustration and lengthy procedures, competent assistance can ensure financial privacy, whilst providing the appropriate answers to the financial institution and provide a stable and professional relationship.   

Location independent business people aim to limit corporate restrictions and bureaucracy, and as a result find a business base where the rules are most fair for their operations. Such flexibility is available in different offshore financial centers. Corporate convenience and freedom of establishment sometimes conflict with financial service provision.

Offshore Financial Services holds a focus on the full spectrum of living and working in different countries. As such, we assist people and companies to obtain (tax) residence permits, incorporate (offshore) companies, set up (offshore) bank accounts and acquire the appropriate corporate licenses to operate. Furthermore, services include the provision of insurance policies, corporate finance, and asset recovery. These financial services often involve the assistance of offshore financial centers and the composition of unconventional, yet tailor made products.

Traditional retail banking and services provided for offshore financial centers differ greatly. The involvement of global and non-resident business activities executed by companies with foreign management makes these offshore financial centers difficult to grasp. Privacy advocates justify the existing company structures, whilst regulators aim for further transparency. Financial institutions are in the middle as being the gatekeepers of a safe, sound, and stable global financial system.

Conflicts between the individual and corporate financial privacy of a customer and the protection of the financial system lead to strict regulation and automatic exchanges of information. For individuals using the offshore industry for the purpose of illegal tax evasion, modernization of financial regulation is inconvenient. However, those who follow the rules of both the home and host state, can still benefit from the industry and its local advantages. 

Offshore banking and financial services for offshore companies and other non-resident equivalents invites for a detailed and specialized approach. Financial institutions want to maintain a clean record and obscure customers should be avoided and removed from the banks customer base. As a result, financial institutions dealing with a vast number of non-resident depositors and offshore companies execute periodic checks on their customers. Even though domestic company law does not always oblige international business companies to maintain audited financial records, such is for a bank or other financial counter part these days an additional measure for safety and protection.