OFFSHORE BANK ACCOUNTS
Why do you charge a fee for the assistance with the account opening?The offshore bank account introduction is a professional service, which takes time and effort on our part. As Approved Introducers to the bank, we refer our client to them, provide the client with a full set of account opening forms, provide assistance or instructions as to how these forms should be appropriately completed and recommendations as to what information should be provided and how. Following the completion of the account application file, we introduce the client to a dedicated customer services manager in the bank. The banker would then take over the whole account application process directly. The bank account introduction is a one-time service. In many instances, the offshore bank account opening can be completed by mail, without a personal presence of the client. At the same time, there are banks which require the beneficial owner to be personally present, either at the time of account opening, or within a certain timeframe after opening. Sometimes, the Registered Agent`s involvement in the bank account opening process may also include evaluating the clients` needs and background in order to suggest which could be the most appropriate offshore bank to approach. We may also complete some of the account forms for the client or, ultimately, undertake some of the regular management functions of the account. During the offshore bank account opening process we spend quite a lot of our time in order to assist the client with the account application. In fact, the time spent by a qualified member of staff on any particular offshore bank account opening much exceeds the average time spent on a new IBC formation. Therefore, it is quite logical that this service involves a fee, which is actually quite small compared to the effort going into it. A bank introduction service is optional. Nothing precludes the company owners from approaching any offshore banks at their own discretion. To that extent, we, as Registered Agents, will stand by to provide any assistance that might be required to support the IBC during the account opening. |
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