No. The registration of an offshore company itself is a fairly straightforward process. On the contrary, opening of a bank account, even for the same newly registered IBC, is not automatic and not guaranteed. The success of the offshore bank account opening does not depend on us, it depends on You. The corporate status and structure of the IBC is not too important when opening the bank account. The personal and business details of the beneficial owner are most important. The main pre-requisite for a successful offshore bank account opening is to provide a clear and logical information as regards the intended business of the company – this is the first block of information that the bank will review during the application. Some offshore banks even agree to assess the business description before the formal application is filed. The bank will also estimate the potential profit of the client to the bank – how much income the business in question will bring to the bank (frequent or high-value transactions, use of credit cards, interest in other services offered by the bank) as compared to the expenses of the bank for the client’s KYC check and regular KYC update. The next important item of the bank account application is personal background of the beneficial owners of the IBC. A detailed Curriculum Vitae showing experience in the field of the proposed business is a valuable part of application.
All this information is something that we cannot prepare for the client, only the client himself can come up with this information. Once the application is filed, the bank will review and assess all the details and will make the final decision. We can assist with preparation of the application to make it look as good and appropriate as possible, but we cannot influence the banks on their decisions therefore we cannot provide any guarantees as to whether the account will be opened or not.
