Opening Of A Corporate Account With A Saint Lucia Bank That Has A Strong Group Of International And Local Shareholders And Multi Currency Accounts.
The Offshore Pro Group can help you with the opening of a corporate account in Saint Lucia remotely, so there is no need to travel to the country. This bank offers:
- Bank has a very strong international client focus
- Good correspondent relationships
- Accounts available in multi currencies
- A minimum deposit that is low for a corporate account
- Strong international shareholder group
We will provide you with expert assistance to open your corporate account with this Saint Lucia Bank. Please send an email to us [email protected] and we will start the process. Before you begin, we strongly recommend that you read this page and send us your responses to the questions The Advice That You Need To Choose The Right Offshore Bank Account.
Why You Should Consider The Offshore Jurisdiction Of Saint Lucia
Saint Lucia is an independent island Republic in the Caribbean that is located in the Leeward Islands. Saint Lucia has a stable economy, the second best in the Caribbean, and is a politically stable country. It has managed to attract investment and business from abroad due to its main industries which are tourism and offshore banking.
All financial institutions in Saint Lucia are controlled by the Department of Supervision of Financial Services and the East Caribbean Central Bank. It wasn’t until the year 2000 that offshore legislation in Saint Lucia was enacted, and this late entry has enabled Saint Lucia to take on board the financial banking industry’s best practices. Saint Lucia has worked diligently to become compliant with international banking regulations.
Strict financial control of the banks is very important to the Government of Saint Lucia, and all of the banks have to comply with the International Banks Act of Saint Lucia. There is a requirement to maintain minimum capital under the Act, which is regulated by the Financial Services Regulatory Authority (FSRA). In addition to the requirements for minimum capital holding, each bank is required to maintain a deposit of $100,000 minimum at an approved bank (this bank can be located elsewhere in the world).
The bank’s capital adequacy is also of concern to the FRSA, and it takes risk based approach to make an assessment of this. Recorded balance sheet assets, along with any off balance sheet assets, are treated as broad risks and these are risk adjusted. This is then compared to the capital that the bank is holding (both core capital and supplementary capital are taken into account). The ratio of this combined capital to the risk adjusted assets must be a minimum of 8%, with core capital being at a minimum of 4%.
Protection of investor’s deposits is the prime concern with these stringent measures. The FRSA is committed to prevent any of the banks from defaulting. This is good news for you, as it means that Saint Lucia is a good choice of jurisdiction for the protection and diversification of your assets.
Saint Lucia Bank For Your Corporate Account Opening
This private international bank has a license to provide international banking services and was licensed and founded in 2004. Since opening, the bank has experienced growth year on year. Offering a very conservative banking model, you can depend on this bank to provide you with the highest levels of personalized services and assistance in the achievement of your business goals.
This bank compares its performance to global banking standards when they measure how successful they are. It is a subsidiary of a leading financial group in Saint Lucia, the East Caribbean Financial Holding company (ECFH). The holding company is publically listed on the East Caribbean Securities Exchange.
ECFH is a reliable and stable company which offers a range of financial products. The ECFH shareholder group is strong and it includes the Saint Lucia Government, a consortium of five banks and financial institutions known as OECS, the National Insurance Corporation of Saint Lucia and the Republic Bank Limited. The remaining 30% of the shares are owned by private and institutional investors from all over the Caribbean. This shareholding group is strong and provides the necessary stability for ECFH.
This bank has very safe correspondent relationships with some of the world’s most reputable banks. Investment relationships with some of the safest banks in the world are also in place. Because of this the bank has a good reputation and perceived high integrity. It is a smart choice of bank for the protection and diversification of your assets.
Corporate Banking Services Offered
This bank can offer you a corporate account with as many as 15 different currency positions due to its strong correspondent relationships. There will be no need for your account to convert to a base currency each time you receive a deposit in one of these currencies. You can also take advantage of the bank’s multi currency wire transfer service using SWIFT. The bank commits to all SWIFT transfers being transacted within 24 hours.
Your multi currency corporate account can have positions in:
- US Dollars (USD)
- British Pounds (GBP)
- Euros (EUR)
- Canadian Dollars (CAD)
- Swiss Francs (CHF)
- Japanese Yen (JPY)
- Australian Dollars (AUD)
- New Zealand Dollars (NZD)
- Hong Kong Dollars (HKD)
- 6 other major currencies
The corporate account provided by the bank will normally bear interest for amounts of $25,000 (or equivalent) and above. Term deposits are possible with the bank, and these range from 30, 60, 90, 180, 270 and 365 day terms. The rates of interest offered on deposits are competitive, and your interest earned will not be subject to Saint Lucia tax.
Once you are the holder of a corporate account with this bank you will experience a highly personalized service from them. The main aim of the bank is to know their clients really well, and offer them all of the assistance that they can to achieve their business and financial goals.
24 hour access to your corporate account will be available through the bank’s highly secure online banking service. The security is assured by the use of token protection for account access. You will be able to view your account balances, recent transactions and account statements. Worldwide transactions can also be performed via the online banking service.
In line with the online security policy of this bank, a secure messaging service is provided as part of the online banking package. The message service will allow you to send messages to the bank and also receive messages from the bank. Traditional email services are not that secure, so in order to fully protect your confidential information the bank has implemented this secure messaging system.
The bank can also provide:
- Lending which is backed on cash and / or securities
- Financial Escrow services
- International Payroll Services
- Wealth planning and management services
- Mutual fund banking
- Corporate services
- Credit cards
You will need to make a minimum deposit in your corporate account with this bank of 5000 USD (or equivalent). This compares very favorably with the minimum deposit required by other offshore banks to open international corporate bank accounts. You must maintain a minimum balance of 5000 USD (or equivalent) in your corporate account.
The transaction charges and other fees that are applied by this bank can change at any time. It is essential that you check the current fees and charges with your professional Offshore Pro Group international banking consultant. Your consultant will provide advice and guidance so that you can achieve the most preferential rates.
The Procedure To Be Followed To Open A Corporate Account With This Saint Lucia Bank
In order to succeed with the opening of a corporate account with this bank in Saint Lucia it is important that you follow every step below please:
- Email us [email protected] for total support and guidance regarding the opening of a corporate account with this Saint Lucia bank. Please make the time available to read the information on this page and send your answers in to us International Bank Accounts – How To Make The Right Choice.
Having only one non resident bank account will mean that you will be exposed to the risks that exist today. Please consider opening two different accounts as recommended in don’t just settle for one foreign bank account.
- For the provision of our professional services to help you open your corporate non resident account in the Saint Lucia bank we respectfully ask that you remit to us the sum of 2999 EUR. You can use Money Gram, Bitcoin, Western Union, credit cards or a bank transfer to make this payment.
- It is required that the following documentaion in English (or translated into English) be supplied to open a corporate account. Corporate documents:
- Copy of Certificate of Incorporation/Registration
- Certificate of good standing (for companies over 12 months old)
- Copy of Memorandum and Articles of Incorporation (or Articles of Incorporation and Bye Laws)
- Copy of the registry of Shareholders
- Copy of the registry of Directors
- Power of attorney document for account opening and management if the person’s rights open / close an account are not clear from the company constituent documents.
- Copy of Declaration of Trust (in case of nominal shareholder)
- If any trustee, settler, director, officer, shareholder, manager or member is itself a legal entity (e.g. LLC, trust, IBC) then please submit the documents requested above as if it is applying for an account
For all beneficial owners, signatories, directors, nominees and trustees of the company please provide:
- Notarized copy of the passport
- Notarized copy of driving license / permit or national ID
- Notarized copy of original proof of address document such as a utility bill not older than 3 months
- Notarized copy or original reference letter issued by a bank, a lawyer or chartered accountant. The references must have been issued in the last 3 months and the client must have maintained a relationship with the issuer for at least 2 years.
- A recent bank statement for the beneficiary
- If any trustee, settler, director, officer, shareholder, manager or member is itself a legal entity (e.g. LLC, trust, IBC) then please submit the documents requested above as if it is applying for an account
The documentation needs to be sent to us and then we will examine it and pass it along to the bank rapidly. After this you should allow the bank approximately 10 business days for your Saint Lucia offshore corporate account to be up and running at the bank.
Starting the process of opening your Saint Lucia bank corporate account couldn’t be easier. Just send an email to [email protected] and we can get started.