Offshore Banking in St. Vincent

With our assistance you will open a bank account in one of the largest banks in St. Vincent.

Benefits of Banking in St. Vincent with Our Partner-Bank

• High-level confidentiality – bank secrecy in St. Vincent and Grenadines is reinstated by statutes.
• Multiple currency accounts – you can serve your transactions in USD, EUR, GBP, CHF, JPY;
• Full operative secure Internet-banking facilities, with no need to install specific software on your personal computer;
• Multilingual customer service;
• Straightforward account opening procedure and reasonable requirements to corporate and personal documents from you;
• Companies and clients from any country, including newly formed companies from lot-tax jurisdictions and tax havens are welcome;
• No personal visit to the bank in St. Vincent is required to open a bank account;
• NO minimum initial deposit requirement;
• NO minimum balance requirement.

Country Profile (St. Vincent and the Grenadines)

Official name: Saint Vincent and the Grenadines.
Geographical location: a nation in the Lesser Antilles chain (in the Caribbean Basin), consisting of the main island of Saint Vincent (that lies between St. Lucia to the north and Barbados to the east) and a chain of smaller islands named the Grenadines stretching south from Saint Vincent to Grenada.
Capital: Kingstown.
Time: UTC/GMT-4, Atlantic Standard Time.
Language: English.
Political status: sovereign state (independent from UK since 1979).
Legal system: based on English Common Law.
Currency: Eastern Caribbean Dollar (XCD or EC$), stable exchange rate (US$ 1.00 = EC$2.70).

Member of: CARICOM, CFATF, Caribbean Development Bank (CDB), the Commonwealth of Nations, United Nations, International Monetary Fund, World Bank.

Offshore sector: represented by international business companies (IBC), offshore banking, offshore trusts, exempt insurance companies, investment and fund management, international ship registry.

Tax Treaties and exchange of information: 2 DTTs with Switzerland and CARICOM (Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago);

TIEAs with: Aruba, Austria, Australia, Belgium, Denmark, Finland, Faroes Islands, France, Germany, Greenland, Iceland, Ireland, Liechtenstein, Netherlands, Norway, Sweden, UK.

Mutual Legal Assistance Law allows for assistance to be given to Commonwealth countries in criminal matters in relation to serious or indictable offences, including tax offences. There is also provision for cooperation with non-Commonwealth countries but this is subject to amendments to the regulations.

Local authorities are required to gather certain information about final beneficial owners; however, they are only obliged to exchange information with other countries in criminal tax matters only, under TIEA. In other cases dual criminality principle applies. Herewith, criminal conduct is drug trafficking or a relevant offence under the anti-money laundering legislation (crime money proceeds).

Banking Profile (St. Vincent)

Supported languages: English, German, Spanish, French, Russian, Japanese, Portuguese, Chinese, Slovak, Czech, Polish and Italian.

Bank services: personal and business accounts; term deposits; international transfers; payment cards; international trust solutions; escrow services; corporate payment system; investment trading in forex and precious metals; yacht registration.

Credit/debit card facilities: Maestro and/or MasterCard attached to your US$ account. Maestro card has daily limit of US$ 2,000 or maximum 5 transactions for ATM cash withdrawal; MasterCard debit has daily limit of US$ 2,000 or maximum 5 transactions for ATM cash withdrawal and US$ 25,000 or maximum 10 transactions for POS purchase). MasterCard Platinum is available.

Currency of accounts: main account is in US$, additionally you can have accounts in EUR, GBP, CHF, JPY.

Internet banking: full Internet banking facilities, with enhanced three level security, allowing for 24/7 access and operation of your account from any place in the world.

Initial deposit requirement: no specific requirement, a reasonable deposit is expected to activate your account, and issue a card, provide courier delivery and/or other services, if requested.

Minimum monthly balance: NO requirements; blocked amount is US$ 300.

Account opening fee: US$ 165.00 with Maestro card including digipass device for secure access to Internet-banking (or US$ 245.00 and US$ 170.00 for 2 courier deliveries with MasterCard debit); plus EUR 5.00, GBP 4.00, CHF 7.00 or JPY 600.00 accordingly for each additional currency account if required.

Monthly service fee: US$ 19.00 for accounts with Maestro card or US$ 35.00 for accounts with MasterCard; Plus EUR 4.00, GBP 3.00, CHF 5.50 or JPY 450.00 for the according currency account;

Transfer of funds (credit to your account): US$ 9.00 for amounts up to US$ 5,000; US$ 15.00 for US$ 5,001 – 70,000; US$ 25 for amounts of US$ 70,001 and higher).

Transfer of funds (from your account, SWIFT): 0.375% (Min. US$ 61.00 Max. US$ 422.50, including intermediary banks charges).

Transfer of funds (internal, per occurrence): 0.1% (min: US$ 5.00, max: US$ 100.00).

Undesirable types of activities: Online gaming and related activities; Dating agencies; Promotion of adult content websites and related industry; Trade of weapons and military arms; Trading of pharmaceutical products; Wholesale of mobile phones, electronic computer components, cigarettes and other tobacco products; Businesses that intend to raise funds from the public or promote multilevel marketing programs; Businesses that offer alternative payment systems, e.g. e-gold, e-cash, or plan to use the company and its bank account for offering unlicensed clearing services / third party settlements for investments and securities; Professional intermediaries that hold funds on behalf of clients; Regulated financial services (insurance brokerage, money transfer systems etc.) whereby a proper license has not been obtained.

Applications for banking from such business are considered on a case to case basis. Please always ask for pre-approval.

Account Opening Requirements (St. Vincent)

Company documents:

• notarized copies of standard company documents (certificate of registration, memorandum & articles of association, registers of directors and shareholders, certificate of good standing, power of attorney if applicable);

In case of bearer share certificates, as well as for corporate directors and shareholders, please contact us for exact requirements.

Personal documents:

• a notarized copy of passport (or other valid ID document); US and Canadian citizens are to additionally provide a notarized copy of the Driver’s license;
• an original recent utility bill (or other proof of address);
• an original reference letter from your current bankers.

All documents must be in English or with official translation into English. These documents are required from each authorized person, director and shareholder.

Personal visit to the Bank in St. Vincent: not required; at your discretion.

Our Services – We Provide

• Preliminary consultation on opening of accounts, bank services, fees and charges;
• Assistance with preparation of the corporate and personal documents and application forms for account opening;
• Obtaining a pre-approval from the bank on account opening, if required;
• Introduction to the bank;
• Guidance through the account opening process, mediation and communication with the bank until you and/or your company is assigned a bank account number.

Cost of Services

The application process is free of charge if you incorporate a company with our assistance, or if you are already our client for other corporate and/or consulting services.

We are glad to offer this service to all other customers for a fee of US$ 250.00. Please contact us to proceed with your account opening or obtain more information.