In today?s fast-paced and highly competitive globalized economy, corporations need to be highly mobile. This means that they must have quick access to their cash assets at a moment?s notice. More often, home countries have strict laws on the withdrawal of large amounts of cash, especially if they are in dollars.
Corporations then seek sanctuary in countries with less strict guidelines and create what is termed as offshore bank accounts. This is a practice around the globe for big companies. The favorite destinations for offshore banking are Antigua and Barbuda, Bahamas, Belize, British Virgin Islands, Delaware, Gibraltar, Guernsey, Isle of Man, Jersey, Liberia, Mauritius, Nevis, Panama, and Turks
The Bahamas is not just a great getaway for tourists. It has, for many years now, been a safe haven for businessmen and for their cash assets. Banks in the Bahamas have been touted as the world?s greatest tax haven for foreign accounts. The islands allow offshore incorporation of business entities and offshore banking for them; and all transactions are regulated and guaranteed by the International Laws on Offshore Banking.
But if you think having an offshore bank account in the Bahamas would mean frequent travels there, think again. While trips to the island paradise are always welcome treats (if not for the expenses they entail), you do not necessarily have to visit the bank to deposit and withdraw money or create an account. The Bahamas banks feature global access through automated teller cards capable of debit and credit transactions. This allows you to transact in stock trading and foreign currency exchanges. You can even have important documents couriered to your address.
To get an offshore bank account, you must apply first for an IBC or International Banking Corporation for your company. You may get help from institutions that specifically cater to this kind of need. The IBC?s are processed in Nassau, Bahamas. Your service Read more…
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