Offshore Banking Centres

Since more and more companies and individuals are setting up offshore banking accounts, this guide to the features of some of these off shore centres will come in handy for those thinking about making the plunge. Hong Kong One of the world's largest offshore banking centers with 60 of the world's hundred largest banks, Hong Kong offers one of the strongest banking systems, and the most stable and secure places for savings. Although a Hong Kong bank account does not offer the high degree of secrecy offered by some other off shore banking centers, it does offer attractive taxation for Hong Kong Companies. Because of its ease of Hong Kong company setup, stability, and absence of foreign exchange controls, Hong Kong is one of the most popular countries for setting up an offshore company.
Belize Since Belize has no taxes, tax evasion is not a crime in Belize. Offshore Belize offers off shore banking accounts protected by legislation to be safe from creditors and free from the requirement of tax filing. Court requests for the details of a Belize bank account are not allowed.
However, Belize banks are subject to strict banking regulations. For example, Belize banks are required to hold a higher reserve than a USA bank. All deposits are also insured and carefully audited. Information on shareholders, managers and owners of a Belize company is recorded only in an offshore company and nowhere else allowing the use of "Bearer Shares" that makes it unnecessary to keep a list of a company's shareholders. BVI Considered one of the best financial centres in the world, a BVI bank account offers access to account information 365 days of the year, privacy, and a stable government that has a close partnership with the industry. Increasingly Asian, Middle Eastern and Eastern European companies are being drawn to the British Virgin Islands for its high quality Financial Services sector and its business friendly BVI Company, the Offshore International Business Company. Professional services for BVI companies include insurance, banking, trustee business, company management, mutual funds as well as the registration of companies, limited partnerships, intellectual property and ships. BVI company formation is very efficient and usually can be completed within four (4) working days.