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Two main methods exist for opening an offshore bank account. Coming from a North American culture many people don't realize that they cannot simply fly to the offshore banking jurisdiction of their choice, walk into a bank, and open an account. Offshore banking is often done "old school" via an introduction. The best way to open an offshore banking account, is to use the offshore legal services of a law firm. For roughly the same price as your airfare and hotel bills you can open a Panama bank account through a lawyer. Be careful because many law firms will charge $50,000 for the same thing you can get done at more reasonable prices. You should be cautious if you are not required to provide ID. This might seem to have advantages, but experience has shown, time and again, that this path leads to many tears. Providing documentation to the law firm who is creating your offshore company will not compromise your banking security.
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For more information on offshore legal services or how to open an offshore bank account visit offshorelegal.org
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