Aug 17, 2020
St. Lucia

Offshore Corporate Account In Saint Lucia

Saint Lucia is a small island nation in the Caribbean, in Central America and is located on the border between the Caribbean Sea and the Atlantic Ocean, and because of that is a perfect offshore jurisdiction. Besides offering the possibility to open a bank account, buying a citizenship of Saint Lucia are also possible.  The bank is a subsidiary of an investment holding company operating in financial services and listed on the Jamaica Stock Exchange. The subsidiary is the Caribbean’s premier Investment Company, built on the solid reputation of providing investors with safe and consistent returns on their investments. Their philosophy was conceptualized and is executed by one of the most professional and experienced teams in the finance business sector throughout the region. The bank is regulated by the Financial Services Regulatory Commission of Saint Lucia and conducts its business in accordance with internationally recognized principles of banking. The bank has correspondent banking relationships and financial/investment relationships with some of the safest and most reputable banks in the world. In other words, its integrity is well respected and maintained. 

This international bank is dedicated in providing some of the world’s best financial products and services and its efficient, secure and personalized banking and investment products through superior banking expertise and relationships with some of the world’s leading financial providers. Among the products, clients can access multicurrency accounts, demand deposits, money market accounts, sweep accounts, term deposit accounts and credit cards. 

The bank is considered as one of the Caribbean’s pristine offshore jurisdictions, Saint Lucia satisfies the requirements of reputable professional advisors, intermediaries and clients, a stable social, economic and political system, strong regulatory environment, a diverse range of financial services including financial registration of international business companies and much more. 

The banks Executive Management Team consists of a group of individuals who are highly experienced and qualified in the respective fields. What each individual bring to the table is a wealth of knowledge and expertise and is capable of making prudent as well as visionary decisions, so in other words, we can say without any doubt that you would be in good hands. 

Corporate Account Opening and wow can you benefit from it? 

One of the biggest advantages this bank offers is that you can open a corporate account online with no need to physically visit the bank itself, and once the account is opened the bank gives a 2-week deadline for you to send the documents they need. Given that St. Lucia is focused on foreign investors, it is a large target group for international corporate account opening.  The convenience that banks in St.  Lucia offer are minimum requirement for non-residents, while the financial policy is transparent.  Some of the benefits of opening a corporate account are that the accounts are secure, the bank may offer an interest rate when you put your money in a saving account, the ability to pay by check or online.

All corporate documents must be in English or translated into English and notarized. The following list is consisting the documents that will be needed:

  1. Notarized copy of certificate of incorporation/registration 
  2. Notarized copy of certificate of good standing (if the company is older than 1 year)
  3. Notarized copy of memorandum and articles by incorporation
  4. Notarized copy of the register of shareholders
  5. Notarized copy of the register of directors
  6. Notarized copy of a power of attorney for opening and managing an account, if the person’s rights to open/disposal account are not clear from the constituent documents of the company
  7. Copy of declaration of trust
  8. Brief business plan description, with mentioning of partners, web page
  9. Contracts, agreements with partners m; invoices, brochures, presentations (if available) 

Please note that additional documents might be required and that the opening deposit minimum is 5000$. 

MULTI-CURRENCY 

As already mentioned, the bank is multi-currency and friendly to: USD, CAD, HKD, CHF, ZAR, GBP, EURO, JPY, AUD, NZD, SEK, THB, NOK, AED and XCD. 

Their network offers up to 15 currency positions on your account which helps eliminate the need to convert to a base currency every time a deposit is made onto your account. The multi-currency wire transfers are conducted via SWIFT and transfers take place within 24 hours. The term of deposits are flexible and range from 30, 60, 90, 190, 270 to 365- day terms and the interest rates are competitive and are not subject to taxes in Saint Lucia. This kind of multi-currency platform is the ideal complement to global trading companies, international financial service providers and/or personal and corporate account holders from across the globe. 

When it comes to credit cards in St. Lucia we can say that they are not your average credit card. It is a secured credit card with lots of benefits that debit and/or credit cards do not provide. The secured credit card will be approved easily , some online services that not give the possibility to be paid with a debit card, will give the possibility to be paid with a secured card and clients with bad credit history are welcome to apply. 

ACCOUNT OPENING FEES

NEW ACCOUNT PROCESSING FEES

  1. Account opening fee – simple structure (with 1 – 10 stakeholders) $350.00 (to be deducted when account is funded)
  2. Account opening fee – moderately complex (with 11 – 20 stakeholders) $500.00 (to be deducted when account is funded)
  3. Account opening fee – complex structure (with 21 + stakeholders) $800.00 (to be deducted when account is funded)
  4. Accounts for special purpose transaction 0.5% of transaction value (minimum $1,000, maximum as negotiated)

ADMINISTRATION 

  1. Account Maintenance fee – per month $20.00 
  2. Account Maintenance fee – per month, for subsequent same currency account $10.00
  3. Minimum balance $5,000 or currency equivalent (to be funded when account is opened)
  4. Minimum balance fee – per month $35.00 (if balance falls below threshold of $5,000 or currency equivalent, during the month)
  5. Amendment to structure $100.00 (addition of 3 or more stakeholders)
  6. Closing of Account $300.00 (if opened within the last six months)

PAYMENT SERVICES

  1. Outgoing Payments – From $0.01 to $75.00
  2. From $100,000 to $125.00 
  3. From $500,000 to $175.00 
  4. From $1,000,000 to $250.00 
  5. Incoming Payments fee – $15.00 
  6. Internal Account Transfers fee – $5.00 
  7. International Cheque Clearance fee – $100.00 (0.05% of transaction value of USD 500K & over)
  8. Issuance of EC$ cheques fee – $25.00 
  9. Cash Withdrawals fee up to a maximum of USD 5,000 fee – 50.00 (offered on a selective basis)
  10. Credit Card Service Fee per payment fee – $15.00 
  11. Investigations/Tracers/Amendments fees –  $100.00 
  12. Extensive Investigations $150.00 (minimum fee)

MISCELLANEOUS

  1. Courier Charges (minimum) $15.00 plus courier cost
  2. Bank Confirmation $50.00 
  3. Bankers Reference $50.00 
  4. Statement Printing $ 5.00
  5. Airmail $5.00 plus actual mail cost
  6. Fax Transmission $5.00 
  7. Translation Services Fee $20.00 (per page)

Offshore Pro Group has been in the financial consultancy business for years and we will gladly help you find the best financial solutions if you decide to seek our advice. Please write to us to [email protected] or use WhatsApp or our live chat to get in touch with us. Whatever communication means you choose, we will be able to suggest the solution that will fit your personal outlooks and your individual investment preferences best!