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Bank for BVI with low fees

Mmkm

New member
Nov 14, 2021
4
0
1
29
Denmark
I own a BVI company with nominee shareholder and directors. But the transaction fee is 50-60 US dollars for each transaction.

After looking through our Year Report of 2021 i realized we spend more than 22.000 dollars in transaction fees + annual and maintaining fees.

which banks can you recommend to keep expenses to a minimum?


Best Regrads
 
Sorry which bank are you already using?
 
Just accept it as the cost of doing business with a BVI.
 
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Reactions: troubled soul
Bank of Asia
Curious about how the Wire Transfer Instructions looking like - do they give you dedicated VG.... IBAN and have proper correspondence bank network?

Last time I have checked they were using some HK bank as correspondence bank.

If they just use an EMI then technically it's not a Bank but an EMI and you can go pretty much with every high risk EMI - technically it would be the same.

However look in Cayman National Bank at least from the DIFC Dubai based rep. Banker I know they are absolutely fine with BVI entities however this would only improve the fact you bank with a proper bank having CITIBANK as correspondence but fees around 1000$ per year and around 50$ for Wire and since recently for 50k$+ and 100k$+ something between 80-150$.

Like @Martin Everson says it's the price of banking a BVI company and it's exactly what I try to tell all the time the folks here - you pay with a Dubai Company initial more then your 1500-2000$ BVI Company however a wire transfer is 10$ and opening or no they is 0.

You get with the setup we provide the highest transactional Offshore Banking possible while maintaining the all-time classic KPI's - 0% tax, no VAT, no accounting and audit and of course no public company register.