For those who didn't report income that is foreign, or for individuals who didn't file all the international tax forms that they should have, for coming clean the cost is extremely high. Should people clean up their past years of tax problems, fairly frequently the taxes, penalties, and interest might be over the amount of cash inside their foreign bank account. In a couple of instances, there exists a risk of being sent to prison for tax evasion.<br><br>Two) Most offshore banking institutions can have well-laid out websites with a wealth of details. Generally they've got paperwork easily available to download software forms, due diligence needs, and federal government issued credentials.<br><br>An excellent alternative is a Visa or MasterCard debit card - which is directly linked for your offshore bank account. The funds are immediately withdrawn from your current account when you spend money using it. You can't get credit with this card, but you do get complete Visa and MasterCard functionality when travelling globally <a href="http://www.23hq.com/noah974tafmblog/story/19141718">Resources</a> - like resort check ins, airline bookings etc. These types of cards aren't readily accessible offshore, but important offshore banks issue them to their international clients.<br><br>Opening an offshore bank account in Belize is simple. You really do not even have to visit the bank. You can be introduced to some reputable, capable, trustworthy bank in Belize. You can set up your account online and by facsimile.<br><br>Most will have demand of a competent and eligible introducer. This is someone who has already got a connection with the <a href="http://blog.easybranches.com/activity-streams/p/1145254/">Read This Article</a> representatives. Now let's have a look at some of the familiar items that are required when setting up offshore bank accounts.