TBA & Associates

International Banking

At TBA, we consider a company to be practically useless, unless it holds a corporate bank account.
The exceptions are holding companies that are created with the sole purpose of holding shares in other companies.

Thus we have developed a banking network and expertise which enables us to open accounts for all companies we register. Obviously, the final decision to open an account depends on the bank, but our account opening success rate is close to 90%.

Our professional status as a Corporate Service Provider and our signing of a good conduct charter give us the status of “eligible introducer” in the eyes of financial establishments in general.

As a result of this, opening an account and managing the dossier are much simpler; we send the banking file directly to our clients. We can also open bank accounts by correspondence for the majority of banks with whom we work. TBA also provides several incorporation packages for those who are looking for set up a company with bank account opening included.

TBA is an international corporate and trust services provider; however, a significant percentage of the companies and trusts we incorporate and manage establish accounts with international and offshore banks rather than domestic banks.

How we choose our network of banks

With our 17 years of experience in the field, we are in position to select banks that are secure, provide excellent services, and a wide range of banking facilities. In addition, other important characteristics are studied before selecting a bank, such as:

Political and economic stability of the country where the bank is located;

Bank confidentiality to preserve the privacy of our customers;

Financial guarantees of the bank to avoid the risk of bankruptcy;

Excellent reputation of the institution;

Wide range of financial products offered;

Which account for which customer.

Our customers’ profile is varied and includes, among others, entrepreneurs, international traders, pensioners, shareholders, businessmen, heirs, consultants and patent owners. We have, therefore, developed a banking network where an account can be opened for any type of activity.
To determine what would be the most appropriate jurisdiction for your bank account, please contact one of our advisors who will be happy to assist you.

Usual banking facilities available

As a general rule, the following facilities are available from the financial establishments with whom we work:

  • Multi-currency accounts;
  • E-banking;
  • Trading in currency, shares and other titles; Interest bearing accounts;
  • Credit card and debit card; and
  • Letters of Credit.

We point out that it is difficult for offshore companies to establish credit lines, loans or other cash facilities unless assets are deposited to serve as collateral.

Usual documents required to open a bank account

As a general rule the bank asks for a certified copy of the shareholder’s and director’s passport (beneficial owner), as well as recent proof of address which, must be less than three months old. If the client goes to the bank in person to open the account, a certified copy of the passport is not required. In Mauritius, banks also require a letter of reference from a bank and a CV. In Hong Kong banks do not open accounts remotely.

We will send you the additional documents necessary for opening the account by email, as an attachment, for you to sign and return to us preferably by special courier ( DHL or FedEx), along with the other documents mentioned above.

Reasons to Bank Internationally

There’s a wealth of reasons for individuals and companies to bank internationally. Many people around the world use international banks to shelter their money from their home country’s income and estate taxes. Hosts of banks are based in countries with low or no income and estate taxes, such as the Cayman Islands, Belize, Panama and the Isle of Man. But you can’t just put your income in Belize and not pay taxes.

Customers must report their income and work with their bank to make sure tax avoidance doesn’t turn into tax evasion.

Some individuals use international banks to invest in the economies of booming countries and in developing countries, the same way they might invest in a domestic corporation or real estate venture.

A number of wealthy individuals keep their wealth in offshore banks and other entities to keep it safe from lawsuits. That doesn’t mean these people are criminals; they simply want to avoid losing every penny to a sudden, unexpected or predatory lawsuit.

Since international banks lend and borrow on international markets, they’re less affected by domestic interest rate fluctuations. For example, when someone wants to avoid sinking interest rates in their own country, one thing they might do is move their money into an international bank. Also, some foreign banks might offer better interest rates than domestic banks, providing a money-making opportunity for customers.

International banks also make it easier for a company with an international presence to do business around the world.

For one, the company doesn’t have to set up a million different bank accounts around the world, and then wait to receive money while the banks deal with one another. In addition, international banks offer many financial services to facilitate international trade.

Besides offering payroll services for companies with employees and contractors in other countries, they offer letters of credit to ensure that companies in different countries pay one another for goods and services. They also offer financing services to support businesses facing the large costs of importing and exporting products.

The process of establishing an account at a reputable international bank will probably include the following:

The bank will confirm your identity and the identities of anyone who has an ownership interest in your money.

Like a good father, the bank will ask you about your intentions. Why do you need an international bank account? What does your business do? The bank will inquire about the origin of your deposits, especially very large ones.

The bank will ask for references. Are you a reputable individual or company? The bank will analyse how risky a customer you would be. Can you or your company pay back loans?

Set up company with bank account is important first step for both small and large businesses. This especially true when launching a new business enterprise! A business bank account plays a significant role in growing your business, while shielding it and yourself at the same time. Business bank account keeps track of business expenses, simplify tax reporting, and deposit payments under your company name. It provides a simpler as well as more professional way to run your business. It makes it easier to manage your financials and shield your personal assets in case of lawsuits.

Bank account opening services

Our company licensing services

— What we do and do not do

Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.

TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!

Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.

We help you grow your business across international border and achieve financial efficiency.

We are ready to answer all your questions!