|Bank Account opening usa, cyprus, malta, lativa, germany, uae|
Bank Account opening
Bank account abroad without incorporation of a company abroad respectively without shifting the resident taxation?
In many cases an “isolated” account opening abroad doesn’t make sense. This is because regardless of the country where a natural person or legal entity (company) holds an account, the country of residence has the right of taxation. In case of the natural person the country, where this person is subject to resident taxation.
In case of the legal entity, the place where the official place of business, in accordance with Article 5 OECD-MA, is documented.
Due to the international treaties (also compare OECD CRS Treaty since 2016) it is almost impossible today to keep foreign accounts secret. If foreign accounts/income is not declared in the tax return, it is generally considered to be tax fraud.
If the client’s (legal entity, company) purpose is the legal reduction of ongoing tax charge, an incorporation abroad with locally registered business location should be realized. As an international tax consultancy, we offer all important countries and services:
We are happy to advise you.
For natural persons the relocation of the resident taxation to a low-tax country is suitable. Often the Non Dom & Remittance Base in Ireland, England or in Malta is interesting.
When does an isolated account opening without the incorporation of a company abroad make sense?
In all case we advise our clients to declare foreign account income in the local tax return. It is totally legal for natural persons or legal entities to hold foreign accounts, as long as the earnings are declared in the tax return.
Bank Account opening abroad
Our office opens accounts locally and abroad for natural persons and companies:
For the account opening of natural person the following documents are generally needed:
Required documents account opening for corporations
-Natural persons (directors, shareholders):
All above mentioned documents are required in English. If not available in English, translation by an officially recognized translator, along with required notarization and Apostille For account opening in Germany, the same documents are needed in German language. The fees depend on the country of the account opening. We are happy to send you a fee schedule.
Bank account opening USA via Delaware Bank and Delaware Corporation
We can open a bank account in the US without the need for president of the US corporation to have a domicile in the US. However, the personal presence of the beneficial owner/ president of the US corporation is required for the account opening in the US. We would prepare everything and arrange an appointment with the bank. On request we accompany our client to the bank appointment (included in account opening fees). Foreign corporations (e.g. German GmbH or English Limited etc.) need a Delaware Corporation with the same name.
The following requirements have to be met for an US account opening:
For documents in a language other than English a translation into English by a sworn translator has to be presented along with notarization (the notary’s text has to be in English).
We offer a complete package to our clients:
1. Incorporation US Corporation Delaware, Complete package:
2. Account opening Bank Delaware
Account opening for existing US Corporations or US LLCs in other US states
For existing US corporations from other US states we can also open an account with our bank in Delaware.
Opening merchant service account
Merchant Account for your US Corporation (online credit card statement + PayPal): Installation fee one-off 350 USD. Plus provider fees.
Account opening USA for physical person with residence outside of the US
Can only be realized through an incorporation of a Delaware Corporation with account opening Delaware, see above. With this, the corporation can bear your name, e.g. John Q. Public Corporation.