Article: Do You Need An Offshore Bank Account
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Do You Need An Offshore Bank Account
When you think of offshore bank accounts do you see shady characters carrying around bags full of money? Today?s modern bank legislation does not allow banks to accept cash deposits or transfers of US$ 10.000 and up without presenting proof of the source of funds.
All serious establishments will ask you to fill out forms known as KYC or know your customer. Find out more about KYC http://www.offshoreincorporation101.com/KYC.html This is not only to be able to give you better service but to protect themselves in case you are accused of money laundering. These forms also allow the bank to know your sources of income. Knowing your cash flow the bank will not ask you to prove the origin of the funds every time you make a transfer.
Even though you have filled out a ...
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