Montserrat is a small island called “emerald island” in the Caribbean and it depends on the United Kingdom.
The volcanic eruption of 1997 hit neither its tourist nor its economic side. If several luxury yachts are on these coasts, it is because their owners have decided to live there to take advantage of the low tax rate.
You too can take full advantage by opening an offshore account in this small part of the world.
Opening the account
For this realization, it is imperative to gather some documents. When you have chosen the financial institution or banking institution where you will open an account, you will receive an e-mail from requesting basic information and you must return it with some administrative documents.
Your account will be active no later than 10 business days after the documents are signed and minimum payment. Even if Montserrat does not charge as much tax as other Caribbean islands, you will be required to declare your account.
If you circumvent this statement, you may be exposed to a conviction for tax evasion.
The parts to provide
Opening an account for an individual and an account for a professional is not the same. However, in both cases, you will be asked to provide a certified copy of your National Identity Card or valid passport.
The financial institution or banking institution will also ask you to send them a proof of address. Among the documents to be provided, there is also proof of sources of income.
You can give your payslip or the lease agreement for your leased property to prove that the funds in your account do not come from an illegal source. While some entities do not charge offshore accounts, others charge around € 500.