A short guide on the main requirements to open a bank account in the British Virgin Islands. For assistance, please reach out to us at: [ Ссылка ].
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Open a bank account in BVI
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Popular for investments
The British Virgin Islands are a popular destination for offshore investments and for opening an offshore bank account.
Bank account creation
The requirements to open a bank account are not overly complicated for investors, although banks retain the right to analyse and reject an application.
Onshore bank accounts
Companies in BVI are not required to have their bank account based in the jurisdiction, however, this is a common practice.
Offshore bank accounts
Offshore bank accounts in BVI are popular, given the favourable financial conditions. Many investors choose BVI for this purpose.
Required documents
Banks require a minimum number of documents for opening a corporate bank account. These include the Articles of Association and the identification documents for the company representatives. The list may vary.
Minimum deposit
It is not uncommon for banks to ask for a minimum deposit. This can start at 1,000 $ and checking these conditions is recommended.
Banks in BVI
When opening a bank account, investors can choose among the banks that are present in BVI. This is a choice that can be made as early as the first company formation steps.
Banking in BVI
The British Virgin Islands are know to be preferred offshore location and part of the advantages include a high level of confidentiality for banking matters.
However, this does not mean that banking secrecy is in place and investors need to be mindful of the various laws for anti-money laundering as well as the Foreign Account Tax Compliance Act.
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