Offshore Banking: Q & A
10. November 2021
How to choose the best offshore bank for you? Here are eight frequently asked questions and answers.
We guide you through compliance, documentation & bank selection to ensure successful account setup.
Opening a corporate bank account abroad can be frustrating — especially when you face:
At Benson Formations, we turn that uncertainty into clarity.
Our banking team knows what each bank really requires — and how to position your business for approval the first time.
Your business deserves more than “we’ll try.”
With Benson Formations, you get a clear strategy, faster results, and full support from submission to activation.
“Opening a foreign bank account used to be simple. Not anymore. Today’s banks require rigorous compliance, detailed documents, and ongoing scrutiny. That’s where we step in — guiding you every step of the way to ensure a smooth, successful setup.”
It used to be fairly easy to open a company bank account in a foreign bank and only in a matter of few days. Not anymore! Nowadays, it is an uphill task and even a bigger challenge if you are yourself a director in your foreign company who is not using a local professional director. In such cases, the bank account opening process can last several weeks or months, or it can end up with a negative outcome and refusal by the bank.
We work with banks on daily basis and we know how to achieve a high rate of positive results. We follow constant changes in banking requirements regarding due diligence, know-your-client (KYC) and anti money laundering (AML). We are prepared to share our knowledge and know-how with you, advise you on which particular bank and in which country would be most suitable for your business needs. All based on strengths and weaknesses and fees and charges of a particular bank. We will then assist you with your bank account opening procedure. Contact us to assist you in facilitating the tedious bank account opening process for your company abroad and get positive result whenever possible and as soon as possible.
Opening an international bank account isn’t just about paperwork — it’s about knowing how banks think.
That’s where our team and network make all the difference.
Our team includes former bank relationship managers and compliance officers who know exactly what each bank expects.
We maintain established relationships with reputable institutions across the UAE, UK, Thailand, Singapore, Cyprus, and the Caribbean.
Because we pre-screen clients, prepare their cases properly, and present them to the right banks — not just any bank.
From initial selection to final approval, we handle all communication, documentation, and follow-ups directly with the bank.
Every client receives tailored guidance on where to open their bank account — based on your business profile, activity, and target jurisdiction.
We protect your privacy while ensuring every application meets the latest AML / KYC standards and banking requirements.
During the initial introductory meeting or a conference call we will discuss and ascertain in which country you intent to open your private or company bank account. This will enable us to tell you whether we are able to help you with your query or not. Private and discreet communication is a matter of course.
Prior to working on commencing your bank account opening, we, as a regulated entity, run necessary due diligence on you, i.e. know your client (KYC) and anti money laundering (AML) screening. This is in order to know who you are and what is your risk profile, and to decide whether to take you on board as a new client or not. Following successful due diligence, we will conclude a service contract. This will cover bank account opening assistance and start providing our service.
Once the due diligence has been successfully completed and the service contract concluded with the agreed payment duly paid by you, our specialist team which includes former bankers will start to assist by going through your bank account opening application. We will work closely with you, update you on the progress and possibly ask additional questions along the way. After our work is done, we will kindly ask you to give us feedback, which is important for our ongoing effort to improve our services.
You are only one step from opening a bank account.
This assistance will change the way you think and run business.
How to choose the best offshore bank for you? Here are eight frequently asked questions and answers.
Month of July, the Bank Account Bonus Month reminds us all to take a moment and think about opening a bank account that will pay us to do so! The aim of this month is to celebrate bank account sign up bonuses and try to get as many new bonuses as possible.