ONLINE INVESTING, TIPS, TOOLS, TUTORIALS, TRADING, INVESTMENT RESOURCES

In Part 1 of this article last week, I posed the question, Why do Offshore Banks Ask So Many Questions? The documentation requested by offshore banks (bank reference letters, proof of source of funds etc) when opening accounts for the first time can sometimes appear overwhelming. Panamanian banks, in particular, are extremely bureaucratic. But don’t [...]

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A question that comes up frequently is why offshore account opening procedures require so much information. As an offshore banking consultant, I get to see the account opening processes of many different banks in different jurisdictions, and how widely they vary. I can see both sides of the equation – the bank’s perspective, and the [...]

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