The Perfect Anonymous Offshore Bank Account

Every single person who is interested in tax savings, asset protection and financial privacy is searching for the perfect anonymous bank account.

The perfect anonymous bank account has some of the following elements:

It should be a private banking account,
It should probably be in the name of a tax-free Corporation registered in one of the offshore tax havens.
it should have online access, a MasterCard or Visa card attached to it as either a debit card or prepaid card.
In addition, the bank should have tax-free interest-bearing accounts, and
It should provide online securities trading on a tax-free basis.

Now that we've decided the elements that we want to have in our perfect anonymous bank account, we need to sort through the hundreds of options that are presented to us.

Private Offshore Bank Accounts

"Private banking" is an option often touted by the big international banks. Every one of them claims to have "offshore banks" with private banking services. The problem is that the offshore banks are in reality "offshore units" of onshore banks. As such, they only provide the most perfunctory privacy.

Why does this matter?

An example which comes to mind occurred in the Turks and Caicos Islands some years ago. A very large and well-known international bank, with many "offshore" branches had information in its Turks and Caicos Islands bank that was sought by the United States government. They were unable to get a subpoena in the courts of the Turks and Caicos Islands because of their bank secrecy laws. So instead, the US Federal Court in New York imposed a fine on their New York bank of $100,000 per day until the information was surrendered--the bank rolled over in about three days.

No major international bank today really provides secrecy through any of its offshore units anywhere!

Swiss Bank Accounts

A second option to consider is opening a Swiss bank account. After all, Switzerland is one of the original offshore tax havens, and practically invented the anonymous bank account. For years Switzerland's numbered anonymous bank accounts were the height of security. Even if all of that were still true, Switzerland might not be a good choice simply because its fees are incredibly high.

Swiss banks know how to squeeze money out of their customers better than anyone else. For the sake of argument, we'll assume you are willing to pay the fees levied by the Swiss banks.

Switzerland is still a bad idea! Switzerland regularly freezes accounts of foreign persons at the request of foreign governments. Switzerland is now collecting tax from its foreign accounts and paying it to foreign countries. Swiss banks are operating in major high tax countries, such as the US and the UK. As such, they are subject to exactly the same pressures as that bank in the Turks and Caicos Islands.

Offshore Bank in an Offshore Tax Haven

The third option is opening an offshore bank account with an offshore bank, registered and operating in an offshore tax haven. Provided that such a bank is not owned by an institution in a high tax country, it can provide greater privacy than an "offshore unit" of the major international bank.

However, the US Patriot Act provides draconian sanctions against such banks, and in most cases presumes that they are "criminal operations". Additionally, these banks usually find it very hard to offer quality debit card or trading facilities because they are chartered in countries that are on various financial Black Lists.

Hence, having an account in such a bank, could actually place you at risk as your funds could be considered contaminated because they were co-mingled with criminal funds. Additionally, the overwhelming majority of so-called "offshore banks" are poorly run by people without banking experience, and are often nothing more than "shell banks" existing virtually, but without offices or people.

Banking Anonymously with a Tax-free Corporation

Some people are fooled into believing that by registering a tax-free Corporation they will be able to bank anonymously by hiding behind their tax haven company registration. In almost every case, that is not true. Almost all banks require "beneficial owner" information which defeats any tax strategy or tax planning intended to provide tax avoidance through the use of a tax haven company. In fact, most of the so-called tax havens now require disclosure of the "beneficial owner" of any tax-free company.

But there are even larger threats to anonymous banking.

Every bank, anywhere in the world, which has a US correspondent bank account, is required to submit its self and its records to the US government upon request, as if it was chartered and operating within the United States. If they fail to do so, the funds in their correspondent account can be frozen, and criminal charges could be levied against the bank officials.

Moreover, similar regulations make it extremely difficult to have anonymous trading accounts, or any kind of Visa or MasterCard.

So, Does the Perfect Anonymous Bank Account Exist?

Perhaps not the "perfect" account, but a darn good one does exist. It was created by professionals with years of international banking experience AND years of professional offshore tax haven and tax planning experience. That solution is the Capital Conservator Group's offshore banking account.

Capital Conservator's corporate structure and offshore banking accounts were specifically created, designed and implemented to provide the greatest degree of safety, secrecy, security, and flexibility available.