Your Bank Account Made Global
Moving to Canada or Australia? Y-Axis has developed international banking alliances to help you stay connected to banking channels when you’re on the move. With our experience with helping students, professionals and families relocate across the world, we can help you structure and organise your finances to keep your peace of mind and stay connected to your bank with minimal disruption.
Banking Solution Details:
- Open accounts in Canada & Germany from India.
- Accounts can be opened up to 3 months prior to arrival to Canada and Germany
- Fully online application (no upfront documentation required at the time of account-opening).
- Access to a nationwide network of branches & ATMs across Canada and Germany.
- Minimum balance to be maintained after 6 months.
- No application fees.
- Accounts opened immediately.
- Ability to transfer monies (credits only) after account-opening.
- Bank/Debit cards ready on arrival in your host country.
- Dedicated Personal Banker assigned up front.
Documents Needed
- Valid passport
- Valid visa copy
- Travel ticket
FAQ
How much does it cost to open an offshore bank account?
The fee for setting up an offshore bank account ranges between $1,250 and $350 based on the jurisdiction and bank.
Can I open an offshore bank account?
Yes, you can open an offshore bank account but have to be extremely cautious about where you open it. There are innumerable overseas banks that will accept you as a customer. But all of them will not offer the offshore bank account that is best for you. You must be particularly cautious of the standard advice for ‘bank offshore!’
How can I open a foreign bank account online?
The specific documents needed for opening an overseas bank account varies from one nation to another. However, irrespective of your location, you will require:
- Identity proof – Passport and State ID/ Driving License
- Residence Proof – Your ID with address/ lease agreement/ recent utility bill
- Start-up Funds – Banks usually have minimum funds required to be deposited, $ 500 to $ 1,000
- Work Visa or Student Visa if in case you need one for the nation
- Proof of enrolment in a School or University letter
- An employment contract or Letter of Employment
What is the benefit of an offshore bank account?
Offshore banking offers diverse benefits and opens matchless opportunities. It is a powerful means to keep money safe and in a few cases to make it exempt from tax. Usage of offshore bank account offers diverse opportunities that are not accessible through domestic banks. This includes but not limited to exclusive investment vehicles.
Possibly, the most crucial benefit offered by an offshore bank account is that it is strictly confidential. The privacy of all operations held through the account if safeguarded by the laws of the host nation of the bank. The account is safeguarded from ex-spouses, discontented former employees, creditors, and other interested parties. It is to an extent a defence device.
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