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Banking facilities available

Our services

Through Pearlem your company can open a bank account where it wishes. Therefore, a company registered in Singapore or Panama may as well have its bank accounts in Switzerland or Vanuatu and vice versa. We are able to provide you with the access to the best offshore banks that are secure, provide excellent services, as well as numerous banking facilities (e-banking, credit cards, letters of credit, etc.). For extra information, please refer to our FAQs or Contact Us. 

Banking facilities available

  • Multi currency accounts
  • EBanking
  • Trading in currency, shares and other titles
  • Interest bearing accounts
  • Credit card and Debit card 
  •  Letter of Credit
  • Term Deposits
  • Trading in shared, bonds and other titles
  • Foreign Exchange Trading
  • Individual Personal Client Support

Bank Account requirements

  • 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 residence which, must be less than three months old. However, the full scope of documents depends on the bank, and on the particulars of each case. 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 Panama, banks do not open accounts by correspondence.

    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, FedEx or Chronopost), along with the other documents mentioned above.

    Disclaimer:

  • Each bank account application is subject to the bank’s mandatory due diligence requirements and duties under national and international (FATF) standards, in particular to prevent money laundering, and nothing on this webpage shall be construed as an offer to waive such requirements and duties.

  • Banks are listed as example only. You will need to confirm your choice of a bank after the registration of your company. You have no obligation to select a listed bank and may propose another bank of your choice. Pearlem is not proposing bank services. An introduction service includes the preparation of the application form and the submission of the application file. Any application is subject to the acceptance of the client by the bank.

Other important characteristics to study before selecting an Offshore Bank:

  • Political and economic stability of the country where the bank is located.
  • Bank service conditions (fees, minimum deposit, etc).
  • Excellent reputation of the institution.
  • Wide range of financial products offered.

How it works?

Application form

Complete our online application form (less than 5 minutes)

Documents

Upload your personal documents

Registration

Company gets registered

Services

Additional Services, such as bank account are processed

Service package

Receive your company kit in full confidientality.

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Frequently Asked Questions

Offshore companies are described as companies that conduct small or zero volume of business within their jurisdiction of incorporation. They cooperate with different businesses from all around the world with the exception of the country where the company has been incorporated. Offshore companies are associate with low taxes in jurisdiction of incorporation and low maintenance costs.

Offshore companies have three characteristics: 

1. they should be registered as an entity within the jurisdiction of incorporation

2. the “incorporators” (individuals or group of people) should live outside of the jurisdiction of incorporation

3. the company should transact exclusively outside of the jurisdiction of incorporation

It is a very common question: “where should I register my company?”.

Every client, every situation is unique, therefore, there is no simple and straight answer to that question.

Factors that have to be taken into consideration:

  1. Your company activity
  2. Your place of residence
  3. Your nationality
  4. Where your clients and providers are located
  5. Your affinity with certain regions of the globe
  6. Your willingness to provide audited accounts or no
  7. The kind of banking facilities that you need

All these factors have an influence on which jurisdiction you should opt for. The Pearlem team will be more than happy to review the options available to you and assist you in deciding which jurisdiction would fit you best.

 

At Pearlem we offer multiple payment options to suit your individual needs. Bank transfer, Credit/ Debit card, Cheque, Cash or Bankers Draft are all accepted. We do not hide andy fees from our customers. If there are any additional costs we will disclose them to our clients. 

There are jurisdictions that do not require financial reporting or auditing. However, in certain jurisdictions, such as Hong Kong Cyprus and the UK for example, it is mandatory for companies to produce yearly accounts and to have them audited, and in some cases, to pay taxes (please refer to our jurisdiction comparison table).

While a company may not be subject to tax reporting to its local authorities, we advise you to consult your own tax, legal or accounting advisor to determine whether you or your company have any reporting obligations in other jurisdictions, including the jurisdiction in which you are a tax resident.

Under FATCA (Foreign Account Tax Compliance Act) or CRS (Common Reporting Standard) regimes, most of the offshore jurisdictions may report information about their offshore companies (and the company’s bank accounts) to the relevant home country tax authorities.

No. Generally, it is not required to have a physical office to open an offshore company. However, some jurisdictions may require secretarial maintenance. We advise to seek counsel with your tax/legal advisor. 

 If it is not a requirement to have a physical office everything can be finalised by a way of correspondence.

Every jurisdiction is different and has its own incorporation timeframe. Please refer to our jurisdiction comparison table. Once the company has been incorporated, it will generally take about two to six days for the corporate documents to become available.

In order for us to register your company we require some documents like your passport copy as well as your proof of address such as a utility bill. A certified true copy may be performed by a notary, a practicing attorney-at-law, a public administration or a banker.

The documents must be recent, and the proof of address must be less than 3 months old. It is essential that the certification must confirm that the copy is a true copy of the original document.

Additionally, it is a requirement that the person certifying documents must indicate his/her name, capacity, date of the certification along with the signature next to their official seal. Some jurisdictions have specific requirements and we recommend seeking additional information and instructions from Pearlem and to submit scan copies for prior review.

An offshore company may be of interest to a great number of people and it may be used for various activities:

  • Businessmen:
    Creating an offshore company allows businessmen to begin an activity without having to deal with the set-up of a complicated infrastructure. An offshore company allows you to quickly create a stable structure with a simple administration and enjoy all the benefits of the offshore jurisdiction.
  • Commerce over the Internet (E-Commerce) :
    Internet traders can use an offshore company to maintain a domain name and to manage Internet sites. An offshore company might be ideal for people whose business is on the Internet. You might choose to incorporate the registered office of your company in an offshore jurisdiction to take advantage of the various benefits offered by these jurisdictions.
  • Consultants / Counsellors:
    You can also carry on your consultancy or counselling business through an offshore company. You will find it easier to manage your company, while being registered in a stable jurisdiction and benefiting from all the strengths of this jurisdiction.
  • International business:
    International commerce can be carried out through an offshore company. It will handle purchases and sales operations. Pearlem can also arrange for obtaining a VAT number for companies that we register in Cyprus or in the United Kingdom.
  • Holding intellectual property rights:
    Any kind of intellectual property right (a patent or trade mark) may be registered in the name of an offshore company. The company may also buy or sell this type of right. It may also grant rights of use to third parties against payments.
  • For the custody of movable and immovable property:
    Offshore companies are used to hold both movable property (such as yachts) and immovable property (such as houses and buildings). In addition to confidentiality, the benefits and advantages they offer include exemption from certain types of taxes (e.g. inheritance tax). It should be noted, however, that some countries do not allow the acquisition of movable/immovable property through offshore structures and therefore those wishing to form an offshore structure are advised to check with a competent authority before proceeding.
  • For inheritance purposes:
    An offshore firm that always stays afloat (provided all costs associated with running it are paid) may, in some countries, be used in relation to inheritance tax laws. With a view to optimising inheritance tax liability, the offshore structure may also be combined with a trust or a foundation.
  • Stockbroker/forex:
    Very often offshore companies are used for stockbroker/forex share or foreign exchange transactions. The transactions may for instance be performed with an account opened under a company name.

Pearlem Corporate Services and its affiliates do not provide tax, legal, or accounting advice. Materials provided by Pearlem Corporate Services and www.pearlem.com have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario.

In the event where Pearlem is not able to register your company then your order will be subject to a refund as per our terms and conditions. Please find our refund policy here.

Pearlem acts as your corporate service provider and we provide assistance with the company registration as well as bank account opening.

During the process of registration of the company, there factors we depend on like the authority approval and also the client cooperation to obtain the required documents. When such documents are provided on time, we will be able to efficiently handle the procedures. Pearlem has successfully registered companies internationally in many jurisdictions.

Pearlem deals with several banks internationally and once you become our client, we shall start to create your banking profile, that means to introduce you to the right bank which suits your banking needs and to increase your chances to open your company bank account, but the choice of a bank is ultimately yours. In the event that the bank will reject your application, our team will be glad to re-assess your case and may assist you with a new application after carefully reviewing the reasons of rejection. In such event, we will initiate opening with another bank. 

An offshore company is nothing else than a company. It is legal to set up an offshore company as long as it is not created for the purposes of tax avoidance, tax evasion, money laundering, fraud or trading without proper license. 

Above mentioned illegal activities brought bad publicity to the offshore world. At Pearlem compliance with law is obligatory that is why we conduct strict due diligence and Know Your Client processes and are sometimes forced to refuse or report clients that we know.  

Each jurisdiction has different dates for the company renewal fees to be paid.  In most jurisdictions the renewal fees have to be paid prior to the anniversary of your company.  However there might be exemptions where a jusrisdiction requires the fees to be paid at a specific fixed calendar date. In order to maintain you informed and avoid surprises we will be sending you renewal invitations from 2 months prior to the renewal date. 

Please refer to the below table for detailed information about each jurisdiction

Jurisdiction Renewal Date
Anguilla

Jan 1st next year (Incorporation from Jan 1st to Mar 31st)

Apr 1st next year (Incorporation from Apr 1st to Jun 30th)

Jul 1st next year (Incorporation from Jul 1st to Sep 30th)

Oct 1st next year (Incorporation from Oct 1st to Dec 31st)

Bahamas

31 December of each year

Belize (IBC)

02 January of each year.

Belize LLC

Anniversary date

British Virgin Islands

31 May next year (Incorporation from 01 January to 30 June)

30 November next year (Incorporation from 01 July to 31 December)

Cayman Islands

31 May next year (Incorporation from 01 January to 30 June)

30 November next year (Incorporation from 01 July to 31 December)

Cyprus

30 June of each year

Hong Kong
Anniversary date
Malta
Anniversary date
Mauritius
01 July of each year
Nevis & St Kitts
Anniversary date
Panama
Anniversary date
Seychelles
Anniversary date
UK
Anniversary date
Singapore
Anniversary date
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