We invite you to consider the opportunity to set up a business account in a Dominican bank that has close ties with Europe. The account can be opened remotely. With this bank, you can use both fiat and cryptocurrencies.
When the information that you submit is verified and your application for services is approved, you will have a bank account in two currencies simultaneously: USD and EUR.
The Dominican bank is extremely fast to conduct the AML/ KYC procedures thanks to having an efficient compliance department located in Europe.
The bank is prepared to take on business companies engaged in various types of activities including high-risk businesses. The decision to open an account is made only after the company profile and the application documents are fully verified.
The advantages of setting up an account with a foreign bank
The first quarter of 2020 has clearly shown that a foreign bank account can save you from losses or bankruptcy. Several national currencies have depreciated due to the unstable world economy. What is even more important is that currency depreciations occur regularly. It follows that keeping all your money in a single currency is highly unsafe.
Political stability is one more factor that is taken for granted too often. The recent history shows that economic and political turmoil can happen in any country of the world however unshakable it may seem. Such crises normally limit the access to national bank accounts at least for a certain period. When you know that you can fall back on your foreign bank account in case your home country faces a nasty situation, you feel secure inside.
One more advantage of having an account in a foreign bank is the possibility to take your business to the international level. It may well be much more convenient and much less costly to make transactions to your international partners via your foreign bank account rather than the domestic one. Besides, less red tape may be involved, which naturally increases the speed of the transactions.
The Dominican bank that we are promoting here also allows dealing with cryptocurrencies by giving access to numerous exchanges thus providing for an opportunity to turn crypto into goods and services or fiat currencies.
The services that the Dominican bank offers
You are welcome to make use of a wide range of financial services that the bank offers. The new reality requires that the bank should be financially responsible and the client should be given flexibility in the use of his or her funds. For this reason, the bank managers do their best to provide a large spectrum of possibilities to the clients in an attempt to attract more of them.
Even though the bank is located in the Commonwealth of Dominica and thus it works under the legislation of this country, it is actually part of an international banking group. The group has divisions in Switzerland, Luxemburg, and Estonia.
The banking group makes it possible to open corporate accounts; set up electronic wallets (EMI licenses have already been obtained from the British and Luxemburg authorities while Hong Kong and Malta licenses are coming soon); manage your capital; and have access to cryptocurrency exchanges.
The bank has a number of correspondent accounts in Canada, Great Britain, Portugal, Lithuania, and other countries.
Main services for corporate clients
You can set up a classical multicurrency bank account with an IBAN. It can be done remotely: what you will have to submit is scanned copies of the application documents. Thanks to the highly professional Compliance officers, the due diligence checks are performed as fast as it is possible. The bank’s Compliance Department is located in Vienna.
The verification procedures are performed with the help of automated electronic systems that allow verifying the application documents from thousands of people every day.
You can set up an account in USD or in EUR or in both currencies at a time. You can easily manage your account via the Internet. SWIFT and SEPA transactions are readily available. You can view the transaction history and check the account balance at any time.
Pay cards for corporate clients
The bank issues Visa и MasterCard debit cards. These can be virtual or plastic cards depending on your preferences. Both card types can be used to make secure payments in the Internet while the plastic cards can be used to withdraw cash from ATM’s all around the world.
This particular bank does not charge any card maintenance fees unlike many of its competitors.
You can add the card to your corporate account or otherwise establish a separate card account.
Bank clients do not have to undergo any additional due diligence procedures when ordering the pay cards. Besides, no minimum deposit is required when setting up a card account with this bank.
You can also add a cryptocurrency exchange aggregator to the card. It will allow exchanging electronic money into fiat money and back at attractive rates. This instrument can help you put your crypto money to practical usage: you can pay for goods and services in crypto in those parts of the world where plastic cards are accepted.
Integration with the cryptocurrency exchange aggregator
This instrument gives prime access to an electronic platform that allows trading in cryptocurrencies. The platform scans over thirty active exchanges and provides for the possibility to exchange cryptocurrencies at the most lucrative rates.
You are welcome to buy and sell large amounts of different cryptocurrencies.
Internet banking and mobile applications
The Dominican bank uses state-of-the-art electronic technologies that allow managing the accounts remotely via the Internet banking applications.
Mobile applications for iOS and Android are also available.
If you add several cards to your account, you can designate each card to a special payment purpose with the help of the online application. The application is linked to loyalty schemes of various distribution networks. You can also use it to make contactless payments.
Private banking services
When you become a client of the Dominican bank, you may want to use the private banking services that it offers. The bank officers are highly qualified and have vast experience in servicing customers.
The privileged access will provide for an opportunity to make use of more sophisticated and more efficient financial products via cooperating with your personal manager.
Corporate account for high-risk businesses
The Dominican bank that we are advertising is prepared to take high-risk corporate entities onboard. This is probably the most comfortable bank for a high-risk company.
As the bank is part of an international structure and thanks to the vast experience of its officers, all sorts or potential clients are welcome to apply for services there. The bank will deny services to citizens and legal residents of the sanctioned countries such as Iran, North Korea and the like, but applications from businesspeople of all other nationalities will be accepted.
Companies engaged in such types of activities as fintech, crypto, e-money, forex, gaming, gambling, MLM, health products, and the like can count on obtaining services from the Dominican bank.
The bank will take on any company regardless of its size. However, please be aware that commissions for small companies (with the monthly turnover below US$ 50,000) are going to be higher.
Documents required for opening a corporate account with the Dominican bank
Scrupulous preparation of the application documents is a factor on which the success of the endeavor depends to a great extent. You will have to submit the following documents in order to set up a corporate bank account in Dominica:
- Notarized foreign passport copies of all company owners and directors;
- Proofs of residential addresses for all the persons specified above such as utility bills not more than three months old;
- A notarized copy of the company Articles of Association;
- A notarized copy of the Company Register;
- A notarized copy of the Certificate of Incorporation;
- A notarized copy of the Share Register;
- A list of the Managing Directors and Representatives of the Company;
- A notarized copy of the Certificate of Incumbency and the Certificate of Good Standing;
- A VAT Registration Certificate (if available);
- The original of a Letter of Recommendation addressed to the Dominican bank.
The bank reserves the right to request additional documents should the need arise. Another thing to keep in mind is that all the application documents have to be in English or Spanish. If the original documents are written in another language, they have to be translated into either English or Spanish and the translations have to be made by a sworn translator and notarized.
Expenditures associated with opening the bank account
The cost of our introduction and support services that are required to set up a corporate account with the Dominican bank starts at 3,999 EUR. We will check your application documents for conformity with the bank’s requirements, submit the application on your behalf, obtain the preapproval, and provide administrative support until the moment when your account is opened and becomes fully functional.
The table below specifies the bank commissions:
|For EU companies||For non-EU companies|
|Application processing and account opening fee||2,500 EUR|
|Account replenishment||1% (min 3 EUR)||1.5% (min 3 EUR)|
|Interbank SEPA transactions||0.75% (min 6 EUR)||1.25% (min 10 EUR)|
|Interbank SWIFT transactions||2% (min 40 EUR)|
|Intrabank transactions||0.5% (min 1 EUR)|
|ОТС deals||3% of the deal amount|
You can obtain a full price list upon request. Please note that the tariffs and commissions will depend on the transaction volumes and frequency.
The procedure of opening a corporate bank account in Dominica remotely
- Write to firstname.lastname@example.org and place a request for this service. You can also contact us via the live chat or WhatsApp.
- Answer the questions that our consultant will ask you. We need your answers to ascertain that we can provide the service to you indeed.
- Cover the cost of the service – from 3,999 EUR.
- Supply the scanned copies of the application documents to us.
- After that, we will launch the procedure of corporate account opening for you. As soon as the bank confirms that it is perfectly satisfied with your application documents and your company profile, it will set up an account for you and you can start using it.
Please do not put the matter on the shelf! It is an attractive offer that will open new possibilities to you personally while the world economy is going through one more crisis. Get in touch with us and we will reply promptly!
How many bank accounts should a business company have?
It is advisable to have more than one personal bank account in order to enhance your financial security. The same is true for corporate accounts: if your business has several of those, you can designate each account to serve a particular purpose. It is important to realize that banks normally prefer working with clients residing in the country where the bank is located or at least residing in the same part of the world. Thus, if you would like to do business in Latin America, you should set up a corporate account somewhere in that region.
Can I set up a corporate account with a foreign bank if mine is a high-risk business?
You certainly can even though it is going to be more difficult than setting up a business account for a low-risk company. Many banks are not prepared to service high-risk clients. Some of them are, however, and we can help you find such a bank. At the same time, you have to realize that the bank will want to hedge itself from the risks by charging higher commissions and service fees.
Is it possible to open a business bank account remotely?
Yes, it is quite possible. Modern communication technologies allow validating all the application documents remotely. The police databases permit conducting due diligence checks online. Video conferencing applications allow interviewing the prospective client wherever he or she is. The account can also be easily managed via online applications. For these reasons, some banks will agree to set up accounts without meeting the account owners in person.