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Seychelles offshore banking is best explained by the seeing the list of information that is required by a Seychelles bank to open an account for your offshore company.

A Typical Bank Account Application Form Will Require The Following Details:

01 Type of Account: Corporate / Personal

02 Type of Business: Limited Companies, Companies, Clubs, Associations and Societies

03 Name of Business

04 Country of Incorporation / Registration

05 Name of Signatories and authority given to them

a. to sign this Agreement

b. to enter into any other agreement with the bank for banking products or services with they consider to be in the interests of the Business from time-to-time; and

c. To give instructions to the bank and set up security procedures for giving instructions by telephone.

Including the account type.

06 To agree and accept on behalf of the business:

a. Accept the banks terms and conditions

b. that requests for new accounts shall be in accordance with the mandate held with the bank

c. Bank standard terms and conditions

d. Authority for transfer instructions.

e. Various indemnity covering transfer instructions, checks payable abroad

f. To allow the bank to get credit reference about the person opening the account.

07 The combination of individual / s authorized to give instruction to Bank are:

a. Account operating signatures: Singly, jointly, with limits

08 Information Memorandum

a. Business Name:

b. Registered Office Address:

c. Contact Details: the account holder’s or any others: Phone, fax, email,

d. Correspondence Address/Statement Address

e. Share Capital

09 Banking requirements

a. Currency Required

b. Frequency of Statements

10 Business details

a. Full description of main activities/trade of the company. [Specific]

b. Description of the operation of the business

c. How and where the income to this account will be derived.

d. Any additional useful information:

i. Website Address

ii. Brochures

iii. Publicity Material

iv. Business Plan

11 Source of Funds

a. Please specify where funds to this new account will come from.

b. Specific company names/ individuals if known

12 Specify the countries of operation

13 Expected annual turnover

14 Frequency and size of annual payments into the account.

15 Beneficial Owners.

16 Declaration regarding Money Laundering:

a. We hereby confirm that to the best of our knowledge the company is not and will not be involved in

i. Money Laundering,

ii. Drug Trafficking or

iii. Terrorist Activities.

There are a few other issues related to Seychelles offshore banking that every one wants answers to and I am mentioning them below:

1. Due Diligence

To open a corporate account for an offshore company, all reputable banks including those providing Seychelles offshore banking, will require detailed personal and business information from the owners and controllers of the offshore account.

* Identify the actual beneficial owner of the offshore company. All owners and controllers of the IBC, as well as everyone who will be granted account signatory rights, need to be properly identified and have to provide a number of documents, such as

- a certified passport copy,

- a bankers and/or professional reference,

- a detailed business description and

- a cash flow forecast.

These requirements may vary in details, but their general scope remains fairly similar to most offshore banks, not just in Seychelles offshore banking. Utilizing appointed directors and nominee shareholders is certainly helpful in respect of avoiding unnecessary public scrutiny, however these confidentiality functions are fairly irrelevant in Seychelles offshore banking account openings.

Any bank will primarily be interested to establish the actual, real owners of the company, and will not be satisfied by merely getting the data on appointed managers or representatives.

2. Anonymous accounts at Seychelles offshore banking?

There is no such thing as ‘anonymous accounts’! All banks are required by law to know their clients in very comprehensive detail. While account introduction through an approved intermediary (like us) is still possible without the personal appearance of the owner of the company, banks still want to know their clients and their business dealings in great detail. This is simply required by the laws, that have become stricter after 9/11, that regulate banking industry and there are no exceptions.

3. Seychelles offshore banking secrecy:

While the banks are required to know their clients in detail, banking secrecy remains a fundamental cornerstone in all offshore financial centers, and certainly in Seychelles! The banking secrecy regulations stipulate that all information relating to the client must remain strictly confidential.

Any confidential banking and personal information may only be divulged if demanded so by a Seychelles court ruling. Such ruling, naturally, would have to be based on extremely serious circumstances under the applicable criminal laws in Seychelles, and following a proper criminal investigation, carried out domestically in Seychelles.

Information sharing, reporting or any kind of release of confidential banking information to any foreign party or foreign government is strictly prohibited. Severe financial and criminal penalties await anyone who divulges client information, and is applicable to both the bankers and the registered agents.

Offshore Bank Account is a widely used term which has been used by many people in the online business Industry.  The latest is that many are looking for Offshore Merchant Accounts, which are more a bank which offer credit card processing for online businesses.

Offshore Bank Account is all about the way to open a Bank Account in an Offshore Jurisdiction without to enter into a trap or get ripped off by any suspicious services.

With an Offshore Bank Account which you for instant open in Cyprus you can manage your daily banking through a very use friendly Internet Banking system which give you access to your bank account all around the clock.  

By accessing your offshore bank account with the Internet banking that comes with the bank account, you can request wire transfers which can be transferred to any bank account in the world. You can see your account balance and you can make internal transfers and currency trades if you like.

An offshore bank account which is opened for instant in Cyprus has also an IBAN bank account number which is a must if your trading partners are located in Europe, of course you will also have a regular bank account number for your account. However, by using the IBAN account number when someone from Europe need to transfer money to you, it will be faster and also cheaper for each transfer.

CCLOGIC.Com has specialized in the opening of Cyprus Offshore Bank Accounts and is an official Introducer for the major Offshore Banks in Cyprus, Europe. We help our clients to archive their needs and have a high success rate to open new offshore bank accounts for our clients.

While offshore bank accounts are not for everyone, they can offer huge benefits to the right person. For many small businessmen and entrepreneurs, a good offshore bank account has provided the “key” or competitive edge to unlock vast potential wealth. But first I want to dispel two big myths about offshore bank accounts.

#Myth 1 – Only the super-rich can afford offshore bank accounts. You don’t need to be rich to open an offshore banking account. While it is true that a “wealth-management” service with a personal banker might require an initial investment of US$1MM, accounts with no minimum deposits certainly exist, and smaller minimums of US$500-5000 are quite common.

#Myth 2 – Offshore bank accounts are illegal, or used only by criminals. The confidentiality that offshore banking accounts offer has led to abuse by criminal gangs, but in fact these days many offshore banks have stricter due diligence than their onshore competitors. Criminal activity, wire fraud and money laundering will just as likely take place in New York or London (government sponsored or otherwise). Furthermore, ownership of an offshore bank account is never illegal, although not declaring that you have it can be illegal (laws will vary from country to country).

What can an offshore bank account do for you? Here are some of the advantages that have helped investors make their choice.

1) Privacy – Shield your assets from prying eyes. The phrase “If you’re not doing anything wrong, you’ve got nothing to hide” is often used, but the brutal truth is that many citizens from countries all over the world are exposed to corrupt authorities and criminal elements. Even in more stable countries frivolous litigation can decimate a man’s wealth, while he cannot trust the government to rule in his favour. Why take the risk? By shielding your financial identity with an offshore bank account you can escape the attention of greedy lawyers and experience the kind of total economic freedom that a domestic account can’t offer.

2) Asset protection – Wealth held offshore is harder to reach for anyone who might want to get their hands it. Often the physical distance and legal complexity of attempting to seize an offshore account will ensure that a case against the account holder never takes off.

3) Earn tax-free interest – Many offshore accounts will not have interest taxed at source like your home bank account. In addition the offshore account can open up for you some of the best investment opportunities not available in the domestic market .

4) Multiple currencies at your fingertips – swiftly change between foreign currencies at a fraction of the cost of doing it at home. Some offshore accounts will also offer FOREX and Trading accounts, allowing you to instantly buy and sell at the click of a button from a tax-free offshore base.

5) Perhaps the best advantage of an offshore account is that it will allow you to make international transactions with little or no hassle and red-tape. If you try to transfer even relatively small amounts of money from your domestic account you will likely face a barrage of security questions and other invasive queries, but a good offshore account will allow you to make such transactions online effortlessly, and into the many millions of dollars.