Set Up An Offshore Bank Account on the Cayman Islands

Once again, it’s basically like setting up a U.S. account. The difference is that Cayman accounts are geared to corporations, so it’s possible to open an account and keep your identity a secret. In other words, your corporate name will be the only name the bank knows. If you’re clever and really concerned about secrecy, you’ll insulate yourself with a series of corporations, making a paper trail of holding companies that don’t lead to you. The Cayman Islands don’t officially encourage illegal activity like tax evasion, but they don’t report deposits or interest on those deposits -- that’s your job. But remember: In the war on terror and drugs, Cayman banks have buckled under American pressure. This means that when the bank opens its doors to the American government to catch a drug dealer or terrorist, it also opens the door to your information.