When choosing a bank for your offshore company keep the basic rules in mind:
- Do not select banks in Africa, regardless if they are labeled AAA or whatever, it is Africa afterall and Africa is known for changing rules and leaders far more often than most people change their clothes.
- Do not select banks that are to small, they are usually either used by the mafia to wash money, or setup for purpose of a fraud.
- Choose banks in Europe, usually Switzerland or Liechtenstein, those are great locations and known for the upper most banking abilities to be outstanding.
- Choose a secondary bank so that you always have ways to move your money around. If you smell trouble at one of the banks because of various reasons move all the money out of the account and setup a third bank so that you always have two banks.
- NEVER open a bank account unless you have the direct contact to the bank. Never let a broker decide for you what bank to choose, nor let them be the contact person, because that basically means they own your money.
- If you select a bank make sure that you have the power in the bank account. If you have nominee directors make sure that you with the bank still have the ownership of the account.
- If you use both nominee directors and shareholders then again, make a power of attorney at the bank only allowing you to be in control of the money. If something happens and you are all the sudden removed from the company that incorporated the bank account you either move your money or call the bank. The bank is ALWAYS your best friend, unless its a bank in Sierra Leone.
