OffShore Banking | Bank Instruments - Prominence Bank Corp.

Have you ever been in a situation where you need a loan but then the lender request a bank comfort letter? Well, this situation is most common among business owners. Most banks and financial organizations will not offer you a loan unless you produce a bank comfort letter. What is a bank comfort letter? A bank comfort letter is simply a document that shows that you are eligible to get a loan of a certain amount for a specific purpose. In other words, it's a letter from the bank or a financial firm confirming that the borrower has once borrowed a certain amount of cash. How bank comfort letter works According to our Definition Of The Bank Comfort Letter , the purpose of the bank comfort is to assure the loan issuer that the borrower can complete a particular transaction. A bank comfort letter isn’t an assurance of installment, yet just an affirmation of the borrower's monetary assets to make installment. Bank comfort letters regularly require the mark of agents of the bank or the...

  An offshore bank account has now become an effective way to improve the business especially the offshore business. If you wish to make your international trading and business easier then you must try on using offshore banking services since it will make all the processes easier. Hence it is always better to understand the benefits of using it before opening an account. What are the advantages of opening an offshore bank account? The offshore bank account not only benefits the individual account holders but will also help the other businessmen having this account. So, why should you open an account in offshore banks? Here are some of the reasons: Tax benefits – Taxation optimization is very important in all the companies which move offshore. Since there can be a high tax burden in the home country opening the account in the offshore banks will help in getting a minimum tax rate. This can range from no to minimum tax. But this way, one doesn’t need to spend more money on tax. Asset...