“Going offshore” is a good solution for companies that do a lot of international business, and for people who want to protect their assets. Offshore banking in combination with having an offshore company guarantees maximum privacy and maximum flexibility.

What to do when you want that extra security for your business or wealth? The first thing to do is to start a company in a tax haven country. The most common form of such a company is an I.B.C, an International Business Company. The IBC is perfectly private. The owner of the company can appoint the employees and directors of the IBC while at the same time keeping their identities a secret. Shareholders are not obliged to reveal their identities, either. 

In case the owner of the company does not want to reveal his ownership to his home countries’ jurisdiction, a foundation may be created that will take over ownership from the person and in this way disconnects the offshore company from the person in question.

 The second step is to create an offshore bank account to make it possible for the IBC to conduct business and transfer money. It is highly recommended to open the offshore bank account in another financial center than the one in which the offshore company is founded. Separating the offshore bank account from the offshore company guarantees high levels of security and privacy. What is more, spreading the risks is usually considered a smart option in international business.

 Most offshore banks offer credit and debit cards that you can use from any location in the world. However, only use the ATM for rightful and publicly acceptable transactions, or else the credit or debit card may undo all the built-up protection of assets and privacy.

Step three, when the IBC is ready to rumble and the international bank accounts are set up, is to create a mailing address for the offshore company. An offshore mailing address is often referred to as a “maildrop”. Whenever the offshore company receives mail from the offshore bank or other entities, the “maildrop service” will forward the mail to any given address. The maildrop service makes sure that the mail is unrecognizably put in a white envelope, and thus you can have it sent to a mailbox close to your home or even to your home address.

We hope you can benefit from this information, good luck!

The main source for this information was www.offshorexplorer.com

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