Offshore banking is on the rise around the world, even if the OECD is actively persecuting secure jurisdictions.
The increase in statist policies, high taxes, and banking instability are only a few reasons that justify looking for offshore banking services.
Thus, here we tell you the best offshore banking destinations to safeguard your money in 2020.
Singapore
Singapore is a safe offshore jurisdiction. It is the freest economy on the planet, has a rock-solid regulatory frame, and strong privacy laws. Singapore is the best premium offshore banking destination. It offers a beneficial tax regime, a relatively simple opening process and credit card issuing for corporate accounts. Offshore companies may have some limitations, but some banks allow them.
Georgia
Although, technically, Georgia is not an offshore jurisdiction, it is one of the easiest countries on the planet where to open a bank account. It is one of the freest economies in the world and an emerging market and its banking sector is a clear reflection of this. The two largest banks in the country are well-known for their stability and are public in the London Stock Market.
If you go to Georgia, you can open an account in half an hour. If you want to do it remotely, it takes less than ten days. All you need is proof of identity and residency and filing some paperwork. Accounts in Georgia are multi-currency, and they have excellent service. Moreover, banks usually have English-speaking personnel.
Switzerland
Switzerland is the king of banking. If you want a bank account for asset protection, this is the best place as long as you are a legitimate businessperson. Swiss law forbids bankers to disclose information about your account without your consent, with the only exception of criminal acts and a yearly reporting to avoid tax evasion.
Paired with a solid trust or corporate structure in Nevis or Belize, Switzerland offers rock-solid asset protection. Plus, it has one of the most stable political and economic climates in the world.
Panama
If you’re well-acquainted with Panama as an offshore jurisdiction, you may know it is particularly known for its mountains of paperwork. But certain banks are transparent. You won’t need to be coming and going with more and more paperwork.
Moreover, it’s a friendly jurisdiction for foreigners, and minimum deposits vary a lot depending on the service.
Banking in Panama is an excellent choice as it offers one of the strongest banking sectors in the world, with excellent service for foreigners. Panama bank accounts are especially useful for foreigners who live abroad or travel often as it is quite easy to manage the account remotely. Panamanian banks usually offer excellent online banking services.
Cayman Islands
The Caymans are a synonym of offshore banking. They offer rock-solid protection and full tax optimization, which is one of the main advantages of offshore banking. It is recognized as one of the top ten best banking centers on the planet and doesn’t have capital gains, corporate, withholding, property, payroll, or income tax, plus no exchange control. It is the ultimate offshore destination.
What can we do for you?
The idea of using offshore banking services is to diversify political and economic risk. If you live in an unstable jurisdiction or one that is prone to economic downturns, such an account is a necessity.
If not, you are risking your assets to confiscation, freezing, or devaluation. And this can happen in a blink of an eye. If capital controls are imposed in your home country, you can freely make use of your money if you have an account in another reliable jurisdiction.
An offshore account is not about money laundering, despite what the media wants to make you think. It’s about legally protecting your assets and your family’s future. And in Mundo, we can help you with it. We can help you open bank accounts in the best offshore banks in ALL the jurisdictions we just mentioned, and, in some cases, we can help you do it remotely.
Our experts will help you open your account in a legal and safe way. It is important to note that moving your money to another jurisdictiondoesn’t necessarily exempt you from paying tax on this money. For this reason, we recommend researching the tax legislation of both your home country and your banking country in order to be in full compliance. Luckily, our experts also offer tax advice.
Enquire now and start enjoying the benefits of an offshore bank account.
