I have set up companies in several different countries. However, a bank account in say Belize is not very useful. I had one there that was shut down - at least they wired me the money I had there before shutting down. A bank account in cyprus is not useful - mine there is frozen along with 2000 others who had accounts at FBME and I can't touch one cent of the $ there. A bank account in the Cayman islands is not very useful - not if you want to have a merchant account. A Hong Kong bank account is great - if you are not a US citizen. So for me the only accounts that I can do business with are ones based in the United States.