When opening a foreign bank account, a difficult task often arises with the choice of a reliable and efficient bank, which will be prestigious, convenient and, most importantly, safe at the same time.

Offshore bank account it’s an account that is managed by a bank located in another country other than the country of residence of the holder. Generally, it is a question of a bank account to be placed in a district with a legal offer tax benefits and reductions of taxes on the various financial services.

Apart from these two elements cited above, having an offshore account offers many benefits that are not found very often not among the domestic banks. Among these, one can mention mainly the confidentiality and banking secrecy, and anonymity during the account creation, the non-possibility of freezing of assets, the very low rate when borrowing opportunities and increased investment.

What you need to know before thinking about opening an offshore account?

First of all, you should know that it is not as easy as a few years ago to open an offshore bank account. In Switzerland, for example, it has become almost impossible. It is necessary to make it be very well recommended from a certain category of bank. In other countries such as China and Singapore, it is imperative to move. In effect, the bankers offshore rely on the rule CYA (understand ” Cover Your Ass “). In other words, they protect the most out of their rear. To do so, they are scrambling to get as much information as possible about the applicant of account opening in order to be able to be clear in case of a problem. In this order of ideas, therefore, you must decline the actual identity of the end beneficiary. The bank will ask you in person so that you explain thoroughly your business plan, as well as the origin of the funds to spend on the account, this is to combat money laundering. In any case, in theory.

Collect & Pay Ltd is a fintech company that will enable companies in offshore countries around the world to open an account and make payments to their partners.

How to open an offshore bank account in Collect & Pay Ltd?

Our company provides the fastest way to open an account. All you need is to fill an application for opening an account on our platform and upload the necessary documents. After a KYC check of your company, you can use the platform and start sending payments.

What documents do you need to provide and what are the other requirements for opening offshore accounts?

Contact us to schedule a call with our manager – [email protected]