Read this page to the end if the above problems concern you or contact us to see how we can assist you to overcome all the aforementioned difficulties. We also provide 30 minutes FREE consultation to understand your needs and problems.
Here is the list of best countries to open offshore bank account remotely. We are working with many banks in the following countries but not limited. Each bank has its own terms and conditions to open bank accounts.
USA
Cyprus
Belize
Puerto Rico
Liechtenstein
Mauritius
St Kitts & Nevis
Hong Kong
Singapore
Vanuatu
Vietnam
Saint Lucia
Malaysia
Switzerland
Lithuania
BVI
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How to open an offshore bank account online?
Well, the general answer to this question is to find a bank that allows you to register through their online application form.
Although it is easy to open bank accounts in local banks, it is not simple to open an international bank account online. Some banks like Euro Pacific Bank and Bank Frick allow you to apply your application online; however, providing adequate information and documents that comply with their needs required a high level of experience and knowledge. We suggest you contact directly with the bank if you have enough knowledge and experience in banking.
Foreign banks eventually require you to submit all original certified documents and application forms. Filling the bank application form is not as easy as it looks. One small mistake may result in application rejection.
Frankly, most of these applications get rejected due to the lack of documents and improper answers.
So, What is the best way to get an overseas bank account if you are not an expert?
Well, The best way to open an overseas bank account is to consult with an agent who has enough experience and connections in the banking industry. It makes the account opening process faster and easier.
We have helped more than thousands of our clients to successfully open their accounts.
- Open bank account for business
- Domestic company and bank account
- Offshore company and overseas bank account
- Personal bank account
- Pseudonym bank account
- Opening bank account for Forex traders
- Paypal bank account
- Bitcoin trading and bank account
- Why Oobac?
- How we work?
- Some useful information
- FAQ
Open bank account for business
Open bank account for business is the most common inquiry that we receive every time.
Most of the companies would like to expand their businesses globally and offer their products and services to overseas consumers. Thus, a foreign multi-currency bank account can help them to receive different types of currencies.
It is a cost-efficient approach if we would be able to pay our service provider with different currencies without paying for the exchange rate.
There are more advantages to use a foreign bank account for your business. In our other article "Why open an offshore bank account?", we have explained in more detail.
Domestic (onshore) company and overseas bank account
You might have a local company in your city of residency. Domestic companies are normally performing their business locally within certain areas.
When local companies try to expand their business globally, a foreign bank account that supports different currencies is a must. Without a flexible bank account, it is impossible to do business with other countries.
It is also more convenient when you pay your service providers with the currency they invoice you. For example, assume one of your service providers is located in Europe and invoice you in EUR currency. You can pay them with your EUR account directly without paying an additional currency exchange rate. Some banks even provide you with a low transaction fee when you send money to the bank that is located in the EU area.
Oobac can open your company's account with the fastest and easiest way.
Do you have a local company in your hometown?
Get your overseas bank account and expand your business globally. Pay and receive globally.
Contact Us NOW!
Offshore company and bank account
An offshore company is a company you establish in a foreign country that has low or zero tax obligations.
It is a very good choice for startups and new businesses that are looking for a cost-effective company structure.
There is a possibility to get a corporate bank account for your offshore company exactly in the same country; however, we normally suggest having a different bank account in a different jurisdiction. This will make your business structure more secure and private.
Although offshore companies have now become very stable and useful, they are normally offered by small and developing countries. They do not have as much power as large and developed countries, so it is better to keep the account and company separately unless you have specific reasons.
This is a professional way to use an offshore company.
Want a bank account for your offshore company?
Just give us some information about your company and your needs. We will provide you the best possible solution.
Contact Us NOW!Personal bank account
Opening a personal bank account in overseas banks is not as difficult as a corporate account. In the current situation of the world, it is reasonable to diversify your assets and funds. Having your funds in different banks from different countries is a wise choice.
An overseas bank account is very useful for freelancers who work from home. You can get paid with the currency of your choice and spend it whenever you like. Most banks offer a debit card that can be used everywhere globally.
Pseudonym bank account
Opening a bank account under an alias is possible only in one bank. This is a AAA class private bank in Liechtenstein.
The pseudonym account is a type of personal account and only offered to high-end clients. There is no such an account for corporate.
Please note that this is different from the so-called "Number Account" which is not sufficient without a name. Pseudonym Account has a name, so you can use this account in a normal way and your real name is never revealed.
Opening bank account for forex traders
Foreign Exchange Currency (Forex) trading is one of the largest markets in the world; however, opening a bank account in foreign banks to deal with Forex brokers becomes very difficult.
Due to some limitations in the home country, people tend to register in Forex companies outside of their country of residence. Thus, they try to open bank account in other jurisdictions.
Some prefer to incorporate an offshore company and trade with their company. There are only a few offshore banks that accept clients who are active in Forex trading. The first condition is that you should only trade with your own fund. Trading with third party funds strictly prohibited unless you have a valid license.
Are you a Forex trader and need a bank account?
We can assist you to open bank account in foreign banks that accept transactions from/to Forex brokers.
Contact Us NOW!
PayPal bank account
One of the easiest ways for companies and businesses to get paid is using services like Paypal, Neteller, Skrill, and the like.
Each of them has its own requirements, regulations and limitations. It is not easy to get an account for all offshore companies if you do not meet their requirements. Especially, opening a Paypal bank account needs its own business structure. First of all, you need to make sure that Paypal has an office in the country you would like to incorporate your company. You can check the list of countries from the following link:
List of countries Paypal supports
In most cases, you need to show that your company has a bank account in the same jurisdiction as your company. So, we suggest you consult with one of our advisors or Paypal before establishing your offshore company.
Do you need a Bitcoin-friendly bank account?
Although many big banks prohibit buying/selling Bitcoin and other cryptocurrencies like Ethereum (ETH), XRP, Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP) and etc using your bank account or debit/credit, there are still banks and financial institutions that allow you to buy bitcoin and similar cryptocurrencies.
Contact Us NOW!Why Oobac
WHY
work with OOBAC
?
We have been in this business for more than 15 years.
We have successfully opened more than 1,000 quality overseas bank accounts.
We find the most suitable bank for your needs.
We will guide you on how to use your e-banking if your English is not enough.
We provide free consultation via email, Skype, Line, and phone.
Contact us via oobac. We have a secure internal messaging system in which we provide free advice in English and Japanese language. Do not worry, you can ask as many questions as you have. We try to understand your business activity and the purpose of the account. This is very important, the more we know about your intention, the more we can assist you to select a suitable bank.
Once we fully understand the purpose of the account and your company business activities, we will suggest some suitable banks to choose from.
We collect the initial information and documents to communicate with the selected bank. This is to get the green light or a pre-approval letter from the bank. For some specific business activities, we might need to check with several banks to get the pre-approval.
Once we receive the pre-approval from the bank, we will prepare the complete application form. You need to print every page, sign the specified places, and send the original forms and documents to our office. Normally, we will check the scanned copy of the forms first to make sure everything is in order and then we will ask you to send us the original ones.
Once we receive the original forms, we will sign and certify the forms and submit them to the bank. This stage might take longer because the compliance department of the bank needs to check all the documents and application forms. They may ask for additional information and documents which we will inform you to prepare.
We will inform you when the account is fully approved and provide you with an official letter or email from the bank. We have successfully completed our job. From this stage, you need to communicate with the bank directly because this is your account and we are not allowed to interfere any longer. You need to deposit the required initial deposit and activate your account.
Some useful information
Open bank account requirement
The documents required to open a bank account vary between banks. Each bank has its own regulations and requirements, so they may ask for more documents and information. In general, the following are the most common documents that banks ask for personal account:
- Notarized copy of passport
- Notarized copy of Proof of Address within three months (it can be utility bills like electricity bill, water bill, etc).
- Updated CV (Resume)
For the corporate account, you need to provide the above mentioned documents for any person involving in the company structure like directors, shareholders, nominees, and beneficiary owners. In addition, you need to submit a notarized copy of your company documents. If you have incorporated your company with us, we will take care of this part and will provide all these documents.
Some banks may ask for additional documents later after reviewing your initial documents and CV. All documents must be in English or a language that banks requires.For example, if your company documents are in the Japanese language you need to ask an official translator to translate and certify them. Please contact us if you need any help in this matter. We can help you to translate your documents from Japanese to English by a Certified Translation Company
Initial deposit
An initial deposit is a fund that you deposit to your new account to activate it. Each bank has its own specific initial deposit and it varies between banks. Most of the banks request between 500$ to 1000$; however, there are banks that require you to deposit 25,000$ to 300,000$. In Oobac, we try to open bank accounts in banks that have minimum requirements.
Certification of documents
For opening a bank account, you need to get all your personal documents, uch as passport copies, proof of address, ID copies, to be certified by authorities.
None certified documents considered as not valid documents.
One way is to go to the notary public or other authorities near your place and get your documents certified. If you are uncomfortable to certify or translate your documents in your hometown for your privacy, there is an online certification company which certify your documents officially. Please contact us if you need more information regarding this company.
In addition, our advisors are the official agents, eligible introducers, and business partners with many banks. We can certify your documents for some of those banks.
Credit cards / debit cards
Normally, most of the banks we work with offer debit cards or ATM cards that can be used everywhere. So, you can withdraw cash at any ATM, buy your grocery, and purchase online. Some banks offer different types of credit cards too; however, there are some limitations for non-residents' account holders. Please contact us for more information.
You are the one who manage the account
We in Oobac will support you in opening the bank account (corporate, personal, or anonymous). Once the account is opened, you are entirely responsible for managing and handling the account. Even though we are the bank's business partner and official agent, we are not authorized to make changes to your account. The banks and mobile wallet institutions have strict security policies that we should follow. This includes placing the power of account responsibility to you, the account owner. Although in some company structures, nominees are directors or shareholders, we will introduce the beneficiary owners as authorized personnel to manage the account. So this will assure that you have the full power to control your account.
Banking systems
Each bank or mobile wallet institution has its own banking structure and system, which might vary between countries. Make sure you have an adequate understanding of their system, procedure and ploicy, so you can work with your account easier.
Communicate with your direct account manager
Some banks introduce a direct account manager who can help or assist you during your banking experience with them. Make sure to communicate with your account manager to get better information and offers. Sometimes, banks offer new products or interesting investment opportunities that can be useful for you. Building a good relationship with your banker brings you more advantages.
What is a checking account?
A checking account is a form of the deposit account held by a bank or a financial institution. It is often called a current account, transactional account, or demand account. Checking account holders use it for their everyday transactions because it usually allows unlimited numbers of deposits and withdrawals. The funds in checking accounts are accessible via checks, e-checks, automated teller machines, ATMs, and electronic debits. This is a very convenient bank account to pay bills, shop online or execute an online transfer. Banks offer a few types of checking accounts like student account, joint accounts, and commercial accounts. Commercial accounts are used by businesses to carry on their day to day transactions while joint accounts are mostly used by married couples or partners. Some banks provide checking account for students with low and zero maintenance fee, so they can use this account until they are graduated.
This is a cheap and flexible bank account. Banks normally do not make much profit out of it. They use it as a marketing tool to attract customers, so they can offer more profitable services like loans, credit cards, and certificates of deposit.
Make sure to ask the banker about the minimum balance requirements and overdraft fee when you are opening a checking bank account. Some banks apply a higher maintenance fee for low balance accounts and have high overdraft fees.
General FAQ
What is a current account?
In the banking industry, a current account is a checking account held by a bank or a financial institution.
