Most people get a passport will first do two things: first, travel abroad, and second, begin to put a part of the assets to do overseas configuration, so you need an offshore account; however, how to open an account in an offshore bank, this article teaches you to use Dominica's passport to make an overseas account application, one day to get a bank card! Putting the Commonwealth passport to good use. If you are interested in overseas asset allocation, you can read this article first:Moving assets overseas, are you doing it right? How to plan? Legally and safely avoid the automatic exchange of global bank account information? How can passport + identity planning solve the CRS problem?
Again, I made a video, so if you're more of a video person, you can watch the video directly from theClick hereWatch.
Overseas account and offshore bank account are actually talking about the same thing, specifically the same thing with different interpretations. Before opening an offshore account, you should be prepared that opening an offshore account is not as simple as opening an account in China, because opening an offshore account is very much related to your asset allocation, tax planning, and CRS planning; if you are still not clear about it, I suggest that you invest some time before opening an account to understand these three things, and I'll share them again when I have the chance.
Reference:Moving assets overseas, are you doing it right? How to plan? Legally and safely avoid the automatic exchange of global bank account information? How can passport + identity planning solve the CRS problem?
Reference:Tax ID/Tax Resident
Since I am already traveling on a Dominica passport myself, I am sharing what is known as theCitizens of DominicaThe identity of the account to open an account, if you are using other Caribbean passports basically will not have much difference, as long as you can master the essence of offshore bank account on it, if you do not understand why I choose Dominica or how I choose the Caribbean passport, you can look here(Kaixin link) first-hand experience, the original can legally buy a passport immigration ! A Commonwealth passport, access to 130 countries, but how do you choose? Dominica, St. Lucia, Vanuatu.or(Open new link) Get your own passport for half the price! Passport immigration in as little as three months! Buy a passport in the process of encountering the situation you may encounter, how to solve the problem Dominica passportThe
- First of all, you must be able to talk to your local bank, because the bank needs to know where you are from.tax residentand the reasons for opening an accountI'll give you an example, for example, if you intend to study here, if you intend to invest in this country, or if you intend to buy a house or immigrate, it's a very valid reason.
- The second step is to contact your local attorney, embassy, or consulate to get the correct information about opening an account.Dominica has embassies in Belgium, Cuba, the United Kingdom, the United States, and Beijing, and a consulate in Japan, and European consulates in Cyprus, France, Greece, Switzerland, Sweden, and a consulate in Morocco. Because of the different regulations in each country, you may need an embassy on the ground to certify your Dominican documents.
- Third, have your Dominica passport, proof of address, and tax ID number ready.The
About Tax Code
Please pay special attention to the tax code.For financial institutions represents your tax ID number and also determines where you are fromtax residentIt's not just your passport that's going to declare your account property.The number on your ID card is your tax ID number! In China, Hong Kong, Macau or Taiwan, the number on the ID card is the tax ID number, for most people may not understand what this is, and many people ignore this matter.Open an account with an overseas passport, provide a Chinese address, Chinese phone number, Chinese tax ID number, if you even submit to the bank's source of income is from China, you are likely to confuse the bank that you are a tax resident there, and the bank is likely to exchange your account information back to the countryThe
Just because you applied for a Dominica passport doesn't mean you applied for a Dominica tax ID.
So please note that when opening an account, be prepared to have a tax ID number for Dominica, and an address in Dominica, plus a phone number in Dominica, and it can already be assumed that the bank, when doing its due diligence, will be able to fully categorize me as a tax resident of Dominica, unless he is able to otherwise determine that your tax liabilities are not in China.
So please pay special attention when opening your account.As Chinese people have the obligation to pay taxes to the state, so please make a good consultation before opening an account do not break the law!The
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Dominica Citizenship Program
- The Dominica Citizenship Naturalization Program was established in 1993 A.D. and is one of the oldest naturalization programs in the world.
- passport immigrationApplicants are not required to attend an interview
- Immigration can be processed quickly: the time it takes is about 2-3 months.
- The most cost-effective program for single applicants
- The status can be passed on permanently to the next generation in the direct line.