European Union Bank Account and Credit/Debit Card
The hassle of opening bank accounts: SOLVED!
EU credit/debit card with savings account - offshore style
This new product is a credit/debit electron card which can be used at almost any credit merchant or ATM worldwide for purchases or cash withdrawals.
Please note Electron cards cannot be used for mail/telephone purchases, or at merchants who do not have electronic terminals.
The card is issued by a major bank in a European Union single currency area country, one where many foreigners live, which means it can be used in situations were an obviously "offshore" card might not be appropriate.
- Billed in EUROs or in US$.
- No tax deducted for nonresidents of the country.
- NO bureaucratic hassles with references, utility bills, etc.: a simple photocopy of your passport and you're signature notarised on the banks signature form is all that's required.
- Full web-based Internet access for checking balance etc.
- Multi-lingual telephone banking.
- Pay in by depositing wire transfers, mailing cheque's etc.
- Opened within 14-21 days.
- Opening deposit is Euro 1,000 or the USD equivalent paid directly to the bank and into you're account.
Furthermore, after at least 6 months of using the account regularly with a reasonable balance, you can apply for an unsecured credit credit card and you will probably be accepted.
- This card is also available to COMPANIES no matter where they are incorporated. The offer is exactly the same as above, except that original company statutes, certificate of incorporation etc. are required for inspection and return. But credit card will be set up in your personal name, not in your companies name.
What we need:
A copy of your passport notarized, a recent utility bill less than 3 months old, and a bankers reference and a fee of Euro 1,000 Time scale 4 weeks.
For Corporate accounts, add Euro 250.oo
Bank required Corporate papers including the original Apostille.
The most interesting part is the feedback we've received, and we can all glean valuable information from this. The following two unrelated problems came up time and time again:
- Many people have bought offshore companies (Panama bear share Corporations, also Delaware, UK, etc.) but then found it almost impossible to open corporate bank accounts without providing references, etc. thereby compromising anonymity. They inevitably end up with Latvian bank accounts which are great up to a point, but have a certain stigma attached if you are being paid by an onshore business. People told us a nonresident account in a European Union country, for example, would be cosmetically much better if invoicing a company in the European Union.
- Note if you have and want to use any US type company, i.e. a Delaware or Nevada Corporation, all offshore banks now require a US tax Identification number in order to open you're offshore company account. Therefore we no longer sell or offer ANY US type companies, products or services.
Well, to turn these problems into opportunities, we found a solution which we believe many readers will be interested in. That is ONE solution to BOTH problems.
Simply put, it is an account which is:
- Onshore in a European Union country but classified "nonresident" so no tax deducted
- Available to both individuals and corporations
- Accessible by web-based Internet banking - no special software required
- Automatically includes a credit "Electron" debit card which can be used in ATM's and merchants worldwide.
The key thing about this is that ID REQUIREMENTS ARE VERY MINIMAL. A copy of a valid passport notarized is absolutely obligatory (for the cardholder), a recent utility bill and a bankers reference.
The only other requirement is that for a corporate account, the corporate documents must be apostilled.
Frequently Asked Questions
HOW CAN I DEPOSIT FUNDS INTO THE ACCOUNT?
The easiest way is by SWIFT wire transfer, money orders, cheque's and Western Union (onto you're card only.) You can also mail checks to the bank, or of course you can show up there in person with cash.
HOW DO I WITHDRAW FUNDS?
Besides the debit card, you also have the possibility of SWIFT transfers, bank drafts, etc.
WHAT CURRENCY IS THE ACCOUNT HELD IN?
The account will be opened in a Euroland constituent currency. The card is billed in Euros. If you want to open an account in another currency such as dollars, pounds or Swiss francs that is very simple - just ask the bank for a new account number.
IS THERE A "HOLD MAIL" FACILITY?
No, the bank does not offer this. You can achieve the same thing by using a private maildrop. We can provide you with a mail drop "starting" from E150 per annum plus a mail deposit for forwarding purposes. Please note the bank requires a contact telephone number with your application.
CAN I USE THIS BANK AS A REFERENCE?
Yes of course, once you have had an account in good standing for about six months you can ask the bank to provide a reference. This is one of the largest banks in this EU country and it is widely known and respected. You can also immediately use their statements as "proof of address" as often requested in the United Kingdom.
ARE OTHER BANKING FACILITIES AVAILABLE?
Absolutely. This is a full service retail bank. Once they get to know you and see you use the debit card responsibly, you can apply for credit cards, gold cards, Amex cards, mortgages, and lots more.
Just five minutes gets you a Bank Account:
If you prefer, scan everything in, encrypt it with our PGP key (available at our web site,) and e-mail to us. Please use JPEG format for your PP copy. The signature on your PP must be shown as well as your picture and PP number and other details.
1. Make payment by Western Union, or by faxing us a credit card authorization.
2. Fax us a clear copy of account holder's passport. Sorry a real passport is required, no camouflage PP's accepted.
3. For corporate accounts only: also fax us ALL corporate documents, duly apostilled, including a power of attorney.
4. Tell us the correspondence address to which the bank will send card, statements, etc. Also tell us your e-mail address in case of any query this will NOT be revealed to the bank.
5. Within 21 days you will receive by mail an account number, and a contract which you must sign and return direct to the bank.
6. When the bank receives that, your account is open and the debit card will be issued and forwarded to you.
7. Cost is Eur1,000 for a personal account or Euro 1250 for a corporate account (subject to your company papers being order.)