Your banking relationships are your business - and nobody else's! If you are concerned about personal privacy and security you can find banks to suit you in all corners of offshore Europe. You can still find confidential banking with:

• secret numbered accounts
• anonymous Visa or Mastercard
• offshore American Express
• credit card merchant facilities
• international wire transfer facilities
• handling of cash transactions
• internet banking / online banking
• currency transactions
• no ID required accounts
• accounts in your alternate identity

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This small principality located between France and Spain is very low profile. Although it is not known as an offshore center, banking is its largest industry after tourism and duty-free sales. All accounts are automatically multi-currency so you can invest dollars, euros and over twenty other major currencies. Visa and Mastercard credit and debit cards can be obtained. No minimum deposit or bank references. The main disadvantage is that you must be there in person to open an account and it is best to have an introduction from a local if you want the VIP treatment straight away. Numbered accounts are available to big rollers and the banks are extremely conservative and stable.

As Swiss bankers became more choosy in the early eighties, Austrian bankers took their place and opened secret numbered accounts without ID. They were noted for their discretion and efficiency, and the Austrian "Sparbuch" (bearer savings account) became a world-famous anonymous banking tool. Unfortunately since Austria joined the European Union its secrecy laws have been decimated, but there are still a couple of good banks which provide an excellent service to non-Europeans.

These islands are well established tax havens, but unfortunately secrecy has been compromised in recent years, particularly as a concession to the USA and more recently London. Foreign tax evasion has now become a crime, and the islanders are hypocritically trying to hide that their success was built on people dodging taxes in other countries. The other problem is that, although they have access to excellent facilities, staff are generally badly trained compared to other havens, they are poor on foreign languages, and service is often slow and inefficient. Sark is under pressure to stop the provision of nominee directors.

Try the following bank websites:

This small enclave is actually Italian territory but is located in Switzerland. It is tax free because the community's income is from the world-famous casino. Both Swiss and Italian private banks are therefore represented. A full range of international offshore banking facilities are available, but Swiss banking is not recommended for Americans because the Swiss have caved in to American pressure and their famous secrecy now has more holes in it than their famous cheese.

Cypriot offshore services are high quality and well developed. Full service anonymous banking is available but banks here are particularly strict on ID requirements and there are the twin disadvantages of impending European Union membership and the long-running border dispute with Turkey.

Ireland (and the IFSC "International Financial Services Centre" in Dublin in particular) has developed a banking industry out of nothing over the past fifteen years and is by all accounts a great success. The famous Irish non-resident (tax-free) companies have contributed much to this. However, the private banking side of things is less developed than insurance and investment trusts.

Latvian banks are trying desperately to establish a reputation for themselves in offshore and private banking. With some success, it must be added. Despite being a relatively new haven, stability is impressive and the banks are very customer-oriented. As they are keen to attract business they are generally more flexible than some when it comes to making numbered accounts available, or opening ID-free bank accounts. They excel in the area of corporate banking - several Latvian banks will sell you an off-the-shelf Panama IBC (tax-free corporation or International Business Corporation) and open accounts straight away. They score highly on effective use of technology and are naturally skilled and experienced in dealing with Russian clients.

As Swiss banking has become the preserve of the super-rich, the Grand Duchy of Luxembourg has perhaps taken its place. Luxembourg is a first class, sophisticated offshore banking centre with service-minded and highly skilled staff, full internet banking and accounts can be opened by mail. Due to its European Union membership it is not recommended for EU residents, but for Americans and Asians it is ideal. Russians and Eastern Europeans will find it difficult to open accounts here, even with professional introductions. A full range of plastic payment cards is available.

Malta is a former British colony and has a good, English speaking infrastructure. It has an advantage in being offshore from the European Union and has helpful bankers. Accounts can be opened by mail and references are not always required. The banks are solid and stable, and offer secured Mastercard and Visa credit cards. However, they are not at the cutting edge of technology (internet banking not yet available) and service is sometimes less than prompt. Malta's best point is that it has shown a healthy disrespect for unwanted foreign influence in its domestic affairs.

Monaco is famous for its casino and has traditionally been a tax haven for Italians. It has highly skilled international bankers and a wide range of "offshore" services. These services are generally out-of-bounds to French citizens. The disadvantage is that a high entry level is required (generally $100,000 upwards minimum opening balance) and you must travel there in person to open your secret account.

We recommend The Monaco Report by Dr W.G. Hill

Other places to look at are:

At many banks you can easily open an account yourself by approaching the bank directly, and there is no reason why you should not do so. However, this is becoming more and more difficult. The advantages of a professional, local introduction may not be immediately apparent - but in many cases it will nonetheless be to your advantage and you may find it a few hundred dollars well spent in the longer term. Banks are happier with introductions from people they know, so you will probably find your account is opened more easily, and runs more smoothly over the first year or two.

Not only that, but your consultant can advise on local banking customs and make sure you do not inadvertently upset the bank. Every country has its own banking customs, different ways of deciding on credit card applications, different fee structures, different clearance times etc etc. It is good to have someone on your side.

Finally, your consultant can advise on maildrops, opening accounts in alternate identities, what is acceptable / what's not, and so on.

At Eurobanking we have over twenty years experience in introducing private and corporate clients to banks. Bank introductions are our business and we tailor our services to your needs. We have consultants speaking English, French, German and Spanish. If necessary we can travel to meet you and introduce you personally to your new account manager. Ask about our professional bank introduction services by emailing us: