Advantages of Offshore Bank Accounts
When conducting business from an offshore location, one of the main tasks for an online entrepreneur is to minimize their presence in the country where the funds originate. It follows that having bank accounts in the countries where clients are located is unacceptable. Obviously, in such a situation, it is necessary to open a company current account with a bank in some offshore jurisdiction.
In addition to resolving the issue of a corporate account, one should not forget about withdrawing the profits from the company’s account for subsequent use for personal purposes. In this case, there are two options:
1. Transfer money to your account in the country of residence
2. Open a personal account with some offshore bank
Transferring funds from offshore to a bank in the country of residence, firstly, entails the need to pay taxes on this amount, and secondly, the relevant authorities will immediately have questions about the origin of these funds, the consequences of which can be very diverse, but in any case unpleasant.
In the second case, we have a completely transparent situation from a legal point of view, when a citizen of one country earned money by conducting business in another country and deposited it in a bank account in that same other country. These are absolutely legal actions and no tax authority in the world will have any complaints in such a situation.
As for the direct use of funds held in a foreign bank account, it is advisable to link a VISA debit card to this account and use it anywhere in the world. This operation can also be carried out with our help. To cash out amounts up to 1,000 euros per day on the territory of the Russian Federation, you can use ATMs of a number of banks in which there is no commission when withdrawing funds from foreign accounts using plastic cards.
Benefits of Offshore Banks
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Firstly, it is the availability of a corporate or personal account, which no one knows about at all. For citizens permanently residing in the territory of the Russian Federation, this may not even be a financial issue, but a matter of personal safety
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Secondly, many offshore banks are financial institutions of colossal reliability. For example, the largest businessmen and politicians from all over the world keep significant funds in banks in Switzerland or the Cayman Islands
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Thirdly, compared to Russian structures, the cost of international transactions on the account can be minimal
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In addition, the quality of service and attitude towards customers in such organizations is traditionally very high, which makes working with them simply pleasant
To open accounts with foreign banks, please contact our offices.
