Entrepreneur Banking

How to Open International & Offshore Bank Accounts as an Entrepreneur

FREE: Entrepreneurs Finally Accessing Banking & Services With Ease . . .

  • Entrepreneur Banking 101: The right banks & services tailored to your needs (Page 5)
  • The 4 "Entrepreneur Benefits" you should try to unlock with every account you open (Page 6 -10)
  • Our "8-Step Sequence" to opening accounts of your choosing as an Entrepreneur (Page 12)

Finding bank accounts that let you create & grow is a key factor in being able to test successful business ventures...

But unfortunately, finding banks the support entrepreneurs is becoming more challenging. In this article, we'll explain how we find, approach, apply to, and leverage offshore & international bank accounts for entrepreneurs from around the world.

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International & Offshore Banking for Entrepreneurs

Being able to send and receive money, process payments, and access cash where and when you need it can make or break a new business venture. 

Obviously, you need bank accounts that meet your needs but don’t cost a fortune to maintain. And they definitely can’t be at risk of getting shut down on a whim. 

In this article, we’re going to help you find banks that meet these requirements, and a lot more. 

BUT there’s a lot that we’re not going to cover. Including the account opening secrets that we share in our “Entrepreneur Banking Starter Guide.

Entrepreneur Banking Needs

If you’re on this page, you’re probably trying to resolve your banking needs to support your business ventures in different parts of the world. Or, you might be looking to capture more benefits for yourself or your new company through better banks.

Whatever the case, you’ll find the answer in this article. And by the end, you’ll have the direction you need to move forward and find international and offshore accounts that serve your needs.

But finding the right bank as an entrepreneur isn’t easy. And without the right information, it can be a confusing and expensive process. 

You need a bank that gives you complete confidence that you’re money is safe and that you’ll be able to access it whenever you need it.

Below, we’ll talk about the variables that make a great bank for entrepreneurs. And we’ll help you determine what’s most important to you so you can quickly start opening the best accounts.

Why Consider Entrepreneur Banking Offshore

open bank account high earner

Most entrepreneurs who are engaged in international banking will already have specific tax and corporate frameworks in place. If that’s you, you might even have residency in a low tax (or no tax) jurisdiction, multiple citizenships (or plans to obtain them), and an international bank account or two. 

But, what we’ve noticed is that entrepreneurs need banks more than most customers…. 

Yes, entrepreneurs need bank accounts for their personal banking needs. But they also need them to grow their businesses, test their ideas, and send & receive money internationally on a more frequent basis.

Unfortunately, due to increasing regulations, entrepreneurs are starting to be classified as “high-risk” by many banks– even those that once catered to them directly.

Today, if you don’t fit into a banks perfect matrix of industry, transaction volume, residency, and more, you can become a compliance headache for the bank. This typically results in your account requiring more administrative and compliance support than they want to invest in you.

What's the result?

The bank you’re applying to will either deny your application or close your account if you already have one with the bank.

This leaves entrepreneurs facing more banking problems and scrutiny than ever before. Needless to say, the need to find and open new accounts can be stressful, time-consuming, and very expensive.

For this reason, before your current banks close your accounts, you need banking relationships that actually value you as a customer. 

With that said, there are banks that cater for the needs of entrepreneurs. You just need to know where to look, and how to apply.

Once you finally access the right banks as an entrepreneur, there’s a wide range of benefits that you’re going to be able to unlock. 

In this next section, we’ll take a look at some of the most common benefits that attract entrepreneurs.

How You Can Benefit from Entrepreneur Banking Abroad

open bank account in Georgia remotely nomads

The benefits that you’ll be able to obtain from offshore banking as an entrepreneur will vary based on where you’re from, the industries you operate in, and the volume of transactions you send & receive.

Most entrepreneurs find that they can capture a wide range of benefits, including everything from drastically reduced expenses to grater privacy, and more services to fewer account interruptions. 

But instead of going into the nitty gritty details of every single benefit, we’re going to cut to the chase and talk about the most important benefits that you can immediately start benefiting from.

Reduce Expenses

As an entrepreneur, you likely have expenses in different countries around the world. And that usually goes hand in hand with transacting in different currencies. If that’s the case, having an international or offshore bank account can be incredibly beneficial. 

An offshore or international bank account helps entrepreneurs keep costs down by making funds available in the currencies that they have expenses in. 

Additionally, international & offshore accounts can also result in decreased foreign exchange rates and transfer costs.

Entrepreneurs that take the time to identify banks with the best rates for their most important currencies will save money and protect their deposits from currency fluctuations.

Increased Privacy

Let’s be clear: when we say privacy, we’re not speaking about hiding money from governments or tax authorities. Such privacy is no longer possible due to information sharing agreements. 

We’re talking about protecting your assets, insulating it from unnecessary risk, and keeping your financial affairs private from prying eyes.

So what makes offshore banking more private than banking in your home country? 

Well, there’s one crucial factor that makes all the difference: legal systems that foster and enhance privacy. 

Banking in a country with strong banking privacy laws is key to protecting your financial affairs. 

This can be important as an entrepreneur, especially if you’re trying to build new companies, protect your business transactions, or protect your companies from fraudulent law suits.

While banking privacy is not what it used to be, it can still be helpful to know that your details will not be exchanged freely with someone outside your bank.

Compare that to opening an account in a jurisdiction where your account manager can associate with people in the same social circles or business network.

More Options

The old adage, “Don’t put all your eggs in a basket,” is quite real. Whether we’re talking about investments, banking, or service providers, you can’t rely on a single solution anymore.

So how does international and offshore banking help increase your options as an entrepreneur? 

The answer lies in removing home restrictions and accessing a broader range of opportunities not just from different banks but also different countries.

Having accounts at international and offshore banks, for example, usually results in a broader range of service offering, including payment processing, merchant banking, and currencies.

Now international and offshore banks aren’t perfect. But they can definitely offer you a lot more in terms of service than banks in other countries. 

To capture these benefits though, you need to make sure you’re accessing the right banks before you apply to open accounts. 

Fewer Closures & Freezes

One of the benefits of offshore banking is working with banks that understand the needs of entrepreneurs who lead international lives.

And although many banks (like those in your home country) in onshore jurisdictions are less likely to welcome clients in high-risk industries, it’s not unusual for offshore banks to be open to such industries.

As you start to explore international & offshore banking, you may discover that certain jurisdictions even cater to specific industries. 

For example, entrepreneurs in the online gambling space might go to Cyprus, Malta, or the Isle of Man. 

Crypto entrepreneurs have flocked to jurisdictions that are comfortable with crypto as a source of wealth. 

And entrepreneurs engaged in high-risk industries might find Mauritius more accommodating to their banking needs. 

No matter what your industry you’re involved in, you’re less vulnerable to account closures and freezes by selecting an international or offshore banking jurisdiction that understands your client type (or type of business). 

Access Banking & Services With Ease Using The FREE 'Entrepreneur Banking Starter Guide'

  • Entrepreneur Banking 101: The right banks & services tailored to your needs (Page 5)
  • The 4 "Entrepreneur Benefits" you should try to unlock with every account you open (Page 6 -10)
  • Our "8-Step Sequence" to opening accounts of your choosing as an Entrepreneur (Page 12)

Access Banking & Services With Ease Using The FREE 'Entrepreneur Banking Starter Guide'

  • Entrepreneur Banking 101: The right banks & services tailored to your needs (Page 5)
  • The 4 "Entrepreneur Benefits" you should try to unlock with every account you open (Page 6 -10)
  • Our "8-Step Sequence" to opening accounts of your choosing as an Entrepreneur (Page 12)

How Entrepreneurs Can Open Offshore Bank Accounts

Careers in Banking

If you’re ready to start benefiting from the offshore banking world then the next step is to open an offshore account.

Here are the steps to opening an international or offshore bank account:

  • #1: Create an offshore banking strategy that meets your specific financial and banking goals
  • #2: Find the specific banking jurisdictions that fit your strategy and ensure the banking system is secure
  • #3: Find specific banks within the banking jurisdiction that meet your requirements, fit your strategy, and deliver the desired benefits
  • #4: Confirm all of the account opening requirements (including the "unpublished" requirements) before applying
  • #5: Determine the best account opening strategy, based on your business and personal needs
  • #6: Prepare and submit your application, using the strategy you've chosen for your business!

To help you get started, we’re giving you our Entrepreneur Banking Starter Guide for FREE right now… but this is a limited time offer. So grab it while it’s available!

  • Entrepreneur Banking 101: The right banks & services tailored to your needs (Page 5)
  • The 4 "Entrepreneur Benefits" you should try to unlock with every account you open (Page 6 -10)
  • Our "8-Step Sequence" to opening accounts of your choosing as an Entrepreneur (Page 12)

To help you accomplish steps 1 through 3, we have prepared a premium report called the “International Banking Blueprint,” which goes through the most important considerations for your banking strategy, the specific countries, and the specific banks & services that you should use! 

It includes rock-solid strategies and details on how to get started, including:

  • #1: The 4 “banking stacks” every business MUST consider if they care about increasing profits (Page 50)
  • #2: Unlock the business banking example that lets non-Americans operate US companies 100% legally without paying taxes (Page 52)
  • #3: The 2 most important factors that dictate what payment processing options you can access AND how YOU can control them to get whatever payment processing you want (Page 54)
  • #4: How you can reap thousands in free travel and rewards (without spending a penny more than you already do) by adding this business credit card strategy to your blueprint (Page 57)
  • #5: How you can use offshore banking to remove risk from your business’ balance sheet no matter what happens in your industry (Page 58)
  • #6: How to transform your current business banking to guarantee you get the most-essential services & a rock-solid blueprint in minutes (Page 60)

How you use these strategies and actually get started is going to depend on who you are, where you’re from, and how much money you have.

If you want to gain access to this report then click through below to learn more...

Risks & Challenges of Entrepreneur Banking

It’s important to tackle some of the obstacles you’ll undoubtedly face when opening international or offshore bank accounts as an entrepreneur.

After all, though the world is more linked than ever before, regulations are growing and opening accounts is becoming much harder– especially for people leading international lives

In reality, discrimination is alive and well in the banking sector and if you’re an entrepreneur involved in certain industries you will face a lot of problems.

For this reason, your personal considerations such as residency and where you pay tax will play an important role. If you don’t have these items sorted, many banks will turn you away. 

The reason for this, quite simply, is that you will be seen as high-risk in the eyes of banks and regulators.

That might seem strange, but unfortunately, it’s the truth.

As more and more entrepreneurs bank outside of their home countries, governments are trying to hold on. They don’t want to lose hold of your money, your information, and “their” tax revenue.

Now, before going any further, it goes without saying: don’t use offshore banking to evade taxes. This is a horrible strategy that does not work.

In fact, today, banks are unable to keep up with the ever-increasing demands of regulators and the increasing compliance burden that they’re being asked to carry. 

The problem is that most people don’t know the new rules of the game. They go in blind. Choose the wrong bank. Carelessly slap together application answers. And think every bank will cater to their needs as an entrepreneur. 

They don’t understand the bank’s sensitivities, likes and dislikes, account opening quirks, or the best strategies…so they end up getting denied.

As a prospective client at a bank, it’s your job to make the bank comfortable and convince them that they want to serve your needs as a client.

After all, whether you’re opening a bank account or sitting down at a restaurant, everyone appreciates a client that is easy to serve.

To get the best possible bank accounts open as an entrepreneur, you need to be pragmatic.

Understand the system and the players. Work with bankers and make life easy for the compliance team. 

Make it easy for them to “tick” their boxes. After all, they’re not the enemy. They’re just trying to do what regulators tell them to do, and avoid being penalized in the process.

In other words, don’t go into the process thinking that you should be allowed to open an account as an entrepreneur no matter what… that’s not how it works.

Certain branches might cater to entrepreneurs in certain industries, prefer certain business types, require particular minimums, or have varying degrees of openness towards the industries you operate in. 

Knowing the bank and branch’s preferences and sensitivities beforehand is key, especially if you’re not planning to make an initial six-figure deposit.

In other words, unless you know which banks and branches to speak with, you could very quickly find yourself wasting a lot of time and money trying to open a bank account as an entrepreneur. 

You need to prep carefully and strategically before setting foot in a bank or interacting with bankers. That means clearly understanding your banking goals. And you need to know the benefits that you’re actually after. 

That means you need to be aware of the risks and disadvantages of the bank, bank account, and more. 

You know, those little, hidden “cons” that no one talks about – like hidden fees, internal policies, restrictions, and compliance quirks. 

And that’s where we come in…

How GlobalBanks Can Help

Crypto Entrepreneur

Over the years, we’ve seen a growing number of banks in traditional banking jurisdictions making moves to meet the needs of entrepreneurs from around the world. 

These international and offshore banks often tailor their offerings. Meaning they serve the very unique needs of entrepreneurial clients.

But it’s important to note that the country you choose to bank in is important. Some say it’s as important as deciding where to live. Or where to buy an investment property. 

You wouldn’t buy a house or move your family to a war-torn neighborhood. So don’t put your money there!

That’s why our analysts have spent thousands of hours analyzing banks. They speak to bankers. And dig through paperwork. All to identify the best banks and countries for you to open accounts in!

We talk to bankers, regulators, and compliance officers. We even speak to economists, advisors, and, current customers. All of this helps us understand what’s going on behind closed doors. 

Through our research, we discover special opportunities. And we’ve found several banks that we consider hidden gems. They’ll open accounts for entrepreneurs in almost any industry.

Yes… opening an international or offshore bank account as an entrepreneur can be complex. But, we’re going to simplify it for you.

At GlobalBanks, our goal is to help you find and open the bank accounts as fast as possible!

We do this through our premium membership, GlobalBanks Insider. 

GlobalBanks Insider provides you with everything you need to instantly access the offshore banking world. Without middlemen or paying useless service providers.

If you’re not a GlobalBanks Insider, that’s okay. If you’re ready to start opening accounts, you’re only a few clicks away. We’ll give you access to everything you need!

When you join GlobalBanks, you get instant access to our entire archive of Banking Intelligence Reports. These include proven strategies for opening accounts all over the world. And we also provide contact information for specific banks and bankers. Along with details on bank preferences and sensitivities. Including information on what not to do.

If that wasn’t enough, you’ll get access to the GlobalBanks Database. It includes easy-to-digest bank profiles and analyst insights. Including account opening contacts, and over 250 banks in 50+ countries. 

PLUS, you’ll also get real-time analyst support. Talk to our team directly through chat and email. And get answers to your most pressing banking questions.

The only question is, are you ready to start opening accounts?

Click below to learn more about GlobalBanks Insider and to see all the tools you will immediately access. And how you can use them to open accounts!

Ready To Start Opening Today?

We help you every step of the way. 

Get access to the tools, intelligence, and key contacts you need to instantly access the offshore banking world, open bank accounts, and avoid expensive mistakes today. 

globalbanks insider - horizontal layout
  • GlobalBanks Database: Get access to more than 250 banks in more than 50 countries from around the world in our searchable database.
  • Country Reports: Sharing the best banking options in major banking hubs, including opportunities & bank lists, and direct banker contacts.
  • Client Reports: Providing step-by-step account opening strategies, the best banking options, best jurisdictions, & how to open accounts.
  • Real-Time Support: Have our team of banking experts at your side at all times to solve your biggest banking challenges & headaches.

Ready To Start Opening Today?

We help you every step of the way. 

Get access to the tools, intelligence, and key contacts you need to instantly access the offshore banking world, open bank accounts, and avoid expensive mistakes today. 

globalbanks insider - horizontal layout
  • GlobalBanks Database: Get access to more than 250 banks in more than 50 countries from around the world in our searchable database.
  • Country Reports: Sharing the best banking options in major banking hubs, including opportunities & bank lists, and direct banker contacts.
  • Client Reports: Providing step-by-step account opening strategies, the best banking options, best jurisdictions, & how to open accounts.
  • Real-Time Support: Have our team of banking experts at your side at all times to solve your biggest banking challenges & headaches.

Still Need More Proof?

If you’re not ready to unlock the power of GlobalBanks Insider, you can still access more great content from GlobalBanks for free

Below is a selection of our free articles, all focused on helping your business access more benefits, make more money, and protect your cash through offshore & international banks.

Continue Reading Offshore Banking Articles

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