Debit Card Account for an Offshore Entity

A Debit Card Account for your Offshore Trust, Private Interest Foundation, or IBC gives you a direct and easy access to cash from this offshore Entity. You can use it to pull cash from ATM machines, to pay your groceries, and for all kinds of small daily needs where you want your offshore entity to pay for you, with no need from your side to ever sign anything or in any other way reveal your identity.

Both the card and the account associated with it must be owned by your Trust/Foundation/IBC, not yourself. You use the card in your capacity of agent for your Trust. You get the card with your personal PIN code, although the funds you draw on by using it belong to the Trust. Most debit cards based on offshore accounts come without any revealation of the owner's or the user's identity, and for your full advantage of using your offshore entity, this has to be the case.

You should also make sure that the offshore bank will have no incentive and no obligation to report any transactions of this card to anyone. ... Remember, the funds belong to your Trust/Foundation/IBC, and your that entity has no obligation to report its financial affairs to any government, so you are not doing anything illegal by using such a debit card to protect your privacy.

You can use debit cards also as a replacement of traveler's checks. You can use them as gifts. You can, for instance, give your daughter a debit card with an adequate amount of funds on the account to use while she is in college - thus eliminating the risk of carrying cash...


You should be aware that you must make sure the debit card is issued and supported by a bank that is domiciled in another country than your own, and also in a different country than the country where your Entity is established. If not, you run the risk of the government in the bank's country suddenly wanting to legislate new laws that could compromise your privacy. With your Entity being in a different country, you take away that incentive.

One final warning: don't even consider establishing a Debit Card Account for yourself in a foreign country! No matter how smart it might appear, it will tempt you to commit fraud by not reporting the transactions to your own government. There are companies out there that will offer you a "completely anonymous" debit card for a few hundred dollars, but please don't fall into that trap! Fraud is a serious crime, and it remains a crime whether or not your government ever finds out about it... Besides, it is crazy to expose yourself to such risk when there is a fully legal way of obtaining the same benefits by doing it through your offshore Entity.