How do I set up an offshore bank account?

July 18th 2007. If you have access to the internet, then setting up an offshore bank account should be straightforward, particularly if you are focusing on the Channel Islands (Jersey) or the Isle of Man. However, in practise it can be a little tricky; not least because the offshore banks and offshore building societies are now governed by stricter than ever rules to help protect us all from money laundering and its criminal consequences. So, be prepared to provide evidence of your address (perhaps a utility bill), evidence of your relationship with a financial institution (ie a bank) and a copy of your passport. Electronic submission of these documents is never permitted. All copies must be original or certified copies and you will even find some organisations that require that the certified copy be a photocopy not a scan. Generally the documentation you provide must be less than six months old, but for some institutions it is less than three months. Generally speaking the lists of acceptable certifiers makes the process relatively painless and a handy hint for anyone who happens to be in France - you can go to any Marie and have the certification done for free. There, that’s your first big offshore saving! Press here to continue.