Hello Members,
Lets say I open up a offshore bank account would it be legal to start a poker site?

and if so what do I need?

Thanks

Anyone?

Ok, I don't claim to be an expert or anything, but...

Having an offshore bank account doesn't really bring with it any ability to start an offshore BUSINESS. What I think you want is an IBC incorporation. Then you have the IBC technically owning the poker site. After that, you obviously need to actually buy the hosting/software to run a poker site.

Returns from the poker site would go to the IBC, which you could then disburse to your offshore bank account and then enjoy.

Thanks for the reply Is IBC a business or just an example?

An IBC is an International Business Corporation. It's a type of offshore incorporation.

Ive heard NUK mention stuff about this before. Make sure your site is hosted (not just owned) offshore also.

You will also need to verify that the hosting company and the bank you work with accept a poker/gambling site as legitimate money making -- some actually will not and if they find out -- they will freeze your accounts.

Thanks for the useful information.

Surely different countries have different rules. I know the internet is lacking a licence system, so as far as i know I could run a poker site just as if it were a normal business as long as I declared my profit when it went into my UK bank.

Does offshore banking incur interest or have to pay them a monthly fee ?

I would think that all bank accounts are interest bearing, whether onshore of off, while I think the answer you may be looking for is that if attatched to an IBC there will most likely be an anual maintenance fee for the IBC. A good site to check out is offshoresimple.com while I could offer many more good ones. But if its just an offshore bank account you may be interested in Goldnow.st offers one the ability to get a Swiss bank account for a one-time fee of $200. They're a reputable group.
Steve