Guide To Offshore Banking License
A number of key factors, such as Offshore Banking License should be considered when opening an offshore bank account. The best choice for you depends on what you want to achieve with your account. That said, if customer service is your priority you need to consider offshore banks with higher capital requirements.
The amount of money you want to deposit will determine the type of offshore bank in which you need to open an account. As mentioned above, opening an account in a Private Bank requires depositing millions of dollars. To open an account, you may be required to invest a minimum of $2 million.
Other services require a lower amount of money to deposit, such as offshore banks in Singapore, which require a minimum of $10,000 to open an online bank account and $20,000 for other bank accounts.
If you are new to offshore banking and want to start small by depositing a small amount of money, you should consider an offshore jurisdiction like Puerto Rico, where the initial deposit is only $500.