How to Create an Offshore Plan For Your Business
If you are going to open an offshore account you need to carefully create a plan about its use and functionalities. This can potentially save you a lot of money from taxes, but if done incorrectly can also put you in trouble. We offer you ideas on how to make an offshore account plan for different purposes such as personal wealth, business and retirement.
How to Create an Offshore Account Plan for Personal and Business Use
The first step of creating your offshore plan is identifying your goals. What do you need this account for and what do you hope to gain from it. For example, you may want to protect your current or future personal assets and therefore you expect a high level of privacy in your financial affairs. Other factors that may prompt you to go offshore are:
•Ability to trade internationally
•Protection from litigation
•Offshore funds investment
Also consider how quickly do you need your account to be set up. Some providers may be able to offer an express service of up to 2 weeks for your complete package, which will also cost you much. If you are not in a rush, you could get everything done in 30 to 60 days.
The next step would be to think about how frequently and in what way would you like to access your offshore bank account. If you plan to do business with these funds, you will need frequent and easy access, so Internet banking feature will be very important. If that’s not what you have in mind, you could use the account as a savings one, which means you will probably not need to access it on daily or weekly basis. Read more Protected content