Internet Offshore Banking - Open an Offshore Account the Easy Way - By: Patrick Winters

Offshore banking is nothing more complicated than banking in a country where you are not a citizen or resident. If you live in the US, banking in Canada is just as much "offshore" as banking somewhere more exotic like the Caribbean or a Pacific island.

Unfortunately, some of the countries which offer most benefits to the offshore investor are not always close to home. The benefits of offshore banking have been clear for decades, but usually only available to the very rich. You may imagine someone on a private yacht making a call to their Cayman Islands bank, handling large transactions incognito. But the expenses incurred when traveling abroad or wiring money by telephone made the reality of offshore banking prohibitively expense.

Fortunately, with the advent of new technology, internet offshore banking has now become secure enough to be seen as an alternative to traditional means. In fact in some ways it's a lot more secure than traveling in person to an offshore jurisdiction. This is handy because the most private and confidential offshore banks will be those that have least connection with your home country, especially NO physical presence.

Internet offshore banking keeps your banking fees minimal because the entire process is automated. In addition, you are not dependent on working hours to do business. You can order the execution of your financial transactions 24/7 wherever you are in the world - with as little as a laptop and internet access. SSL (Secure Socket Layering) encryption prevents third parties from seeing what you are doing or checking your account. Even the most complex financial transactions can be executed by sending online messages within this secure system. In this way you can be sure that your financial affairs are kept private between you and the executors.

Internet offshore banking certainly makes banking offshore easier, but going from account opening to sending your first wire entirely online is not something that many banks or offshore service providers will offer. Often the process will involve visiting a jurisdiction at some point in person, multiple phone calls, and unearthing numerous documents such as bank reference letters, and information on the source of your funds. Other documents may need to be revised by an attorney. In most cases the process is certainly not instant.

The amount of paperwork and hoops you need to go through will depend heavily on who you bank with. If you are lucky, it could be nothing more than a notarized copy of your passport and a notarized proof of residence - but this will be the legal minimum. You should regard anything less with suspicion.

About the Author

Move offshore with offshore banking specialists Capital Conservator. Our internet offshore banking was specifically designed for a privacy-minded clientele. Its simple - handle everything online from your account opening to stock trades and even complex investments. http://www.capitalconservator.com

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