This material will tell you how to choose a bank to open an account remotely to a non-resident. As is known, the opportunities for conducting activities with offshore banks are often directly dependent on such a legal category as citizenship.
Some countries, as well as persons who have experienced the impact of sanctions, are limited in opening foreign accounts. But at the same time, residents of most countries have this opportunity, and, accordingly, can take advantage of all the benefits of an offshore account.
It is an account that you open in a bank located outside your state. These actions are completely legitimate. But often beneficiaries provide incomplete or incorrect information regarding their accounts. And this entails certain problems.
Firstly, it will protect the business from currency and sovereign risks.
Secondly, you exclude the possibility of takeover of the assets.
In addition, presence of a foreign account allows to diversify your own investments, simplify the procedure for transferring money, and own trading accounts.
Thus, by opening an account with an offshore bank, you exclude any obstacles to the free movement of finance that a business may face in your country (establishing exchange controls, changes in the state structure).
First, make sure that the foreign bank you selected meets all the international requirements that are imposed on financial institutions of this level. That is, it will be preferable to choose a jurisdiction that has gained high prestige in the world.
To exclude all doubts, the bank's compliance with all requirements can be verified. To do this, find information about it by contacting a government agency (for example, such a government register exists in Saint Vincent and the Grenadines).
Remember that much more "responsive and sympathetic" to you will be the employees of the financial institution, in which you have already proven yourself positively.
The probability of a failed account closure in the future is minimized by using the service of an authorized representative.
There are also several stages of verification. It is carried out in accordance with the law on combating money laundering and requires the provision of:
In addition, it should be remembered that the use of the same account for corporate and personal purposes is not welcomed by banks and raises suspicions to you.
If you need to open a corporate account remotely, you will need to complete all of the above points, as well as:
To open an account, you will also need to provide information about the real owner of the company. If the account is not opened by the director or the beneficial owner, it will be necessary to have a resolution in which it is decided to open a bank account. Anyone who is supposed to open an account should have an appropriate power of attorney.
We suggest examining the list of the best offshore banks for opening an account remotely:
Jurisdiction |
Bank |
Minimum deposid |
Antigua and Barbuda |
Antigua Overseas Bank |
5,000 USD |
Global Bank of Commerce |
2,000 USD |
|
North International Bank |
5,000 USD |
|
Anguilla |
National Bank of Anguilla PBT |
1,000 USD |
Austria |
Unicredit |
100,000 EUR |
Bermuda slands |
Bermuda Commercial Bank |
25,000 USD |
Butterfield |
2,500 USD |
|
Bahamas |
Bank of Bahamas Ltd |
10,000 USD |
Butterfield |
2,500 USD |
|
CIBC First Caribbean International Bank |
2,500 USD |
|
Winterbotham |
5,000 USD |
|
Belgium |
Keytrade Bank |
No |
Belize |
Atlantic International Bank |
1,000 USD |
Belize Bank International |
2,000 USD |
|
Caye Bank |
2,000 USD |
|
Choice Bank |
1,000 USD |
|
Heritage International Bank |
3,000 USD |
|
Cayman islands |
Altajir Bank |
5000 USD |
Butterfield |
2,500 USD |
|
Caledonian |
No information |
|
Cayman National Bank |
1,000 USD |
|
NCB Cayman |
2,500 USD |
|
Cook Island |
Capital Security Bank |
500,000 USD |
Curacao |
SAI Bank |
1,000 USD |
United Bank |
No | |
Dominica |
National Bank of Dominica |
No |
Estonia |
Versobank AS |
No |
Germany |
VarenGold Bank AG |
No |
Gibraltar |
Jyske Bank |
200,000 EUR |
Isle Of Man |
Standard Bank |
5,000 GBP |
Saint Kitts and Nevis |
Bank of Nevis International |
No information |
Saint Lucia |
Bank of St. Lucia International |
2,000 USD |
Leichtenstein |
Valartis |
5,000 CHF |
Latvia |
Rietumu |
1,000 EUR |
Luxembourg |
Keytrade Bank |
1,000 EUR |
Malta |
Banif Bank |
2,000 EUR |
Bank of Valletta |
2,500 EUR |
|
Mediterranean Bank |
No information |
|
Mauritius |
ABC Banking Corporation |
1,000 USD |
Afrasiabank |
1,000 EUR |
|
Bank One |
No |
|
Bank of Baroda |
No |
|
MCB |
1,000 EUR |
|
SBI |
1,000 USD |
|
SBM |
1,000 EUR |
|
Panama |
Credicorp Bank |
1,000 USD |
Portugal |
Novo Banco (Banco Espirito Santo) |
1000 EUR |
Saint Lucia |
Hermes Bank |
No |
Saint Vincent and the Grenadines |
B2B-Bank |
No infrormation |
Euro Pacific Bank |
No |
|
Loyal Bank |
1,000 USD |
|
The Seychelles |
Barclays |
100,000 USD |
BMI |
10,000 USD |
|
MCB |
1,000 EUR |
|
Nouvobanq |
5,000 USD |
|
Switzerland |
CIM Banque |
5,000 CHF |
Heritage |
5,000 CHF |
|
Julius Bär |
100,000 CHF |
|
Saxobank |
No information |
|
Strateo |
No |
|
Swissquote |
1,000 EUR |
|
Turks and Caicos Islands |
British Caribbean Bank |
1,000 USD |
Turks and Caicos Banking Company |
50,000 USD |
|
Taiwan |
Bank SinoPac |
1,000 USD |
Industrial Bank of Taiwan |
No |
|
Vanuatu |
BRED |
No |
Pacific Private Bank |
No |
To register offshore companies and select offshore banks, contact the lawyers of Law&Trust International. Our specialists can advise you on any question of your interest during a personal conversation in the office, by phone or in chat.