Offshore Banking Apostille

Offshore Banking involves having an offshore, or overseas bank account in a country you don’t reside in. These accounts allow you to make and receive payments, hold money and set up savings and investment accounts in multiple currencies. 

Having offshore bank accounts which are, also known as offshore savings accounts, makes it much easier to manage your financial commitments across multiple countries and regions. They can also be useful when making or receiving, regular international payments and transfers.

Using offshore banking as a means of investing abroad is a common practice of wealthy investors. The advantages include tax benefits, asset protection, privacy, and access to a  broader range of investments. The disadvantages include high costs and additional regulatory scrutiny offshore jurisdictions and accounts often face.

 

It is not illegal to establish an offshore account unless you do so with the intent of tax evasion. The Foreign Account Tax Compliance Act (FATCA) requires that all international banks report balances and financial activity of American citizens to the IRS or receive imposed fines. 

When opening an offshore bank account financial institutions are often not able to easily verify personal business information. This is when you would need an Offshore Banking Apostille certificate to accompany your documentation. 

Examples of common personal documents that may require an Offshore Banking Apostille when opening a personal account overseas include but are not limited to:

  • Copies of Passports

  • Birth Certificates

  • Copies of Utility Bills

  • Proof of Earnings 

  • Confirmation of Employment 

 

Examples of common business documents that may require an Offshore Banking Apostille when opening a business account overseas include but are not limited to:

  • Articles of Incorporation 

  • Certificate of Good Standing

  • Certificate of Origin

  • Certificate of Formation 

  • Certificate of Incumbency

 

Apostilles are very important documents and should only be prepared by an agency with document verification experience. Contact our office to discuss the professional preparation of your Offshore Banking Apostille.