How to Open an Offshore Brokerage Account

Opening an offshore brokerage account can be advantageous for tax purposes.

An offshore brokerage account is important for corporations, high-net wealth individuals and businessmen, to protect assets and avoid paying more in taxes. With an offshore account, you don't have to visit a bank--you can access the account via an ATM card or online. The Bahamas or the Caribbean are great tax havens for opening an offshore brokerage account.

Things You'll Need

• Paperwork for opening account

Instructions

1. Form an International Banking Corporation (IBC) to protect your anonymity. If doing this in the Bahamas, it is completed in Nassau with the Registrar of Bahamas. Fill out the IBC paperwork, which can be found in the Registrar's office.

2. Contact corporations that deal with operating accounts, such as processing, certifying and preparing the documents. The office of the Registrar will have this information available for you to review.

3. Choose the specific bank where you want to open the account, after all the necessary documents have been approved, including the brokerage and investment documents.

4. Manage the account by phone, Internet or mail once the account has been opened at your bank. Begin transacting as you normally would through a U.S. bank.

References

• Opening An Offshore Brokerage Account