Frequently Asked Questions
Do I have to be rich to have an offshore account?
Not at all! Most banks only require a minimum deposit of $1,000 to open an account. Some are as low as $500.
What's the difference between an offshore corporation and an offshore foundation?
A corporation is used if you are intending to conduct business offshore: a real estate brokerage or an import / export business would be examples. Whereas a foundation can hold assets such as bank or brokerage accounts and collect interest or capital gains, their revenue would primarily need to be "passive".
Do Panamanian banks have government deposit insurance?
No. They have a very strong banking regulatory body. Interestingly, there has never been a bank failure in Panama.
How can I have access to my funds if my corporation or foundation has a Panamanian bank account?
Most Panamanian banks provide online banking.
Would I have to fly to set up my foundation, corporation, or bank account?
No. Offshore Financial Solutions has arranged to have its clients be able to handle these affairs via phone, fax, and overnight courier.
Does having my money offshore mean I don't have to pay any taxes in my home country?
It depends on the laws in your country. But U.S. Citizens are taxed on their world wide income. Using an offshore entity to evade taxes that are legally due in your country is called "tax evasion", which is illegal. OFS does not endorse tax evasion in any capacity. However, offshore entities can be an extremely effective way to protect your assets, maintain the privacy of your financial affairs, and provide for excellent estate planning strategies.
Can I own precious metals in an offshore corporation or foundation?
Absolutely. And OFS has made arrangements with one of the largest precious metals dealers in the world to assist its clients in this regard.
How about foreign currencies? Can they be owned in an offshore account?
Yes. Offshore banks provide accounts in a variety of currencies.
How do I start an offshore corporation?
Contact us for an initial consultation on what kind of offshore strategy would be best for you.
More Offshore Information
Still have more questions about what offshore finance can do for you? Please feel free to contact us by phone, email or via our online submission form with questions, comment or suggestions.
Let our knowledgable, experienced staff provide you with an in-depth phone or email consultation to start you on the road to offshore financial freedom.
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Why Offshore?
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