Your new business deserves the best chance to make it past the tenuous first years of existence. Most new businesses fail within the first 3 years of opening. In order to give your new business venture the best chance of future success, you need flexible banking options that meet your specific needs. For many new businesses today, that flexibility can be found only in the offshore bank account.
Does your business stretch across many time zones, and encompass customers from all parts of the world? Do you find yourself travelling as well and in need of access to your banking information all times of the day and night? The offshore bank specializes in being free from the constraints of time zones. Access to banking information is available 24/7 no matter where you are located. You can also get a debit card to withdraw funds that will work in a large number of locations.
Offshore bank accounts specialize in working with worldwide funds. They are able to take in and transfer from many currencies, and from many locations around the world. The ability to work in multiple currencies is another special feature of the offshore banking institution.
Offshore banks often allow for a private contact at the bank that assist you personally with your account. It is possible to open a private account, or an account that functions for your entire business as a corporate account. Offshore banks strive to maintain discretion, and are well known for their success.
In general, the offshore bank can provide creative banking options often not available through regular onshore banks. Lastly, the offshore bank usually offers better terms for interest and tax benefits not available to other regular bank clients.
When used in conjunction with offshore incorporation (or IBC, international business company) the offshore account is a tremendous tool to ensuring that your profits stay just that—profits—and not just taxes and overhead.