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| | | | Offshore Banking Many people decide to have more than one offshore bank account in the name of their corporation. This is because the first wire from the U.S. to the offshore account may be traceable, the second wire from one offshore account to another is not traceable. The offshore banks pay interest just like in the U.S Generally accounts will be opened in the corporate name in different countries. Thus the possibility of discovery is even less. We only use countries with strict bank secrecy laws. Credit Cards Some offshore banks also offer secured Mastered and Visa credit cards. Purchases made in the U.S. cannot be traced as the cards will be issued in the name of your private offshore corporation and the cards are protected by the offshore bank secrecy acts. The cards can be used to obtain cash from your local ATM machine. The cards require a deposit equal to 150% of the credit line. Thus a $1000 credit line would have a $1500 deposit. This allows you the flexibility of choosing your own credit limit. Repayment terms are usually very flexible with minimum monthly payments as low a 10% of the outstanding balance. The time deposit that you use to back the account is interest bearing. Interest rates are comparable with rates in the U.S. Location of Offshore Accounts Your accounts can be located anywhere you choose on a worldwide basis. We generally open accounts in the Bahamas, British Virgin Islands, Nevis, or Antigua. It has been our experience that some people are constantly roaming the globe looking for the one perfect place. In truth the Caribbean countries offer an excellent place to put your assets. The countries in this part of the world have English law, modern communications, are not members of NAFTA and have not signed a Tax and Information Exchange Agreement with the United States. Most tax haven jurisdictions are carbon copies of each other. National Business Incorporators, Inc.
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