The theme of the tax havens is very common. Actually, they’re foreign jurisdictions where there is a low taxation and tax benefits for natural persons or companies. For this reason, many people opt for opening an abroad current account without residence, whether it is personal or for business.
THE CHARACTERISTICS OF AN ABROAD CURRENT ACCOUNT
The characteristics of an abroad current account vary according to the kind of account opened abroad without residence, and it’s full legal. This implies doing the necessary tax declarations in the residence country. Every account allows to deposit a sum of money, withdraw cash and receive and make payments (direct debit or purchase by credit card). In some banks it’s allowed to open an online abroad account, thus without physical presence. Furthermore, the customer is provided with a debit card and can dispose of e-banking. An abroad account could not have bank withdrawal charges at ATM’s. Then, if you open an abroad account in England this is not subject to double taxation of world markets, thus it’s preferred by entrepreneurs in order to make transactions globally, without problems arising from black lists or similar limitations.
CONSULTATION TO OPEN AN ACCOUNT ABROAD
Open a current account for non-resident outsiders is quite easy, and in many banks you can open an online foreign current account without physical presence in the branch of the chosen bank. It’s also true that the local norms in force in the chosen country could provide particular forms of privacy protection or exclude particularly favorable norms for the indicated account: to avoid mistakes when opening an abroad account without residence, it’d be convenient to ask for a professional consultation, to be indicated the best way to open an abroad current account with reduced taxation, where is more advantageous to open an abroad account, to have specific suggestions for the privacy to open an anonymous abroad account or manage an abroad current account not declared, if not compulsory.
DOCUMENTS TO OPEN AN ABROAD CURRENT ACCOUNT
To open an account abroad without residence, the documents to be submitted are those required in your country’s bank, e.g.: A copy of the passport or identity card; Referential letter by at least two different banks of your country or a bank and an accountant of your country. In case of business account, it’s required a copy of company documents and the Certificate of validity, even though not by all banks.