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SWISSMONEY Iban Accounts with Sepa

Reputable bank for an Incorporated company in BVI?

ARM1

ARM1

New member
Mar 23, 2019
6
3
3
CANADA/UK
#1
Seeking Information

My business partner and I hired "One IBC LTD" to incorporate an off-shore company for our global forex company. The Forex Broker we currently use is in the United Kingdom.
The challenges we are experiencing is finding a “reputable” banking institution that will accept an off-shore company registered in the BVI.
We both hold dual citizenships. (Canadian and United Kingdom.) It will not be an issue to go in person to the right banking institution if need be.
If anybody has any experience or can offer any guidance it would be greatly apricated.
Thank You
 
#2
#4
Admin said:
Why isn't it possible for your agent to help you with an bank account for your BVI company?

Have you looked into EMI accounts or checked the list of service available here List of Banks, EMI's, Payment processors and BTC to FIAT institutions.
Click to expand...

Thank you for your feedback. Below is the response from the agent.

1. OCBC Bank - Singapore (personal visit required) 2. Heritage Swiss Bank - Switzerland 3. Euro Pacific Bank - Puerto Rico 4. Belize International Bank - Belize 5. Maubank - Mauritius .

I am waiting for a response on OCBC in Singapore and Heritage Bank in Switzerland.

My main question is if anybody could offer any other suggestions based on personal experience for reputable banking institutions by name for a company registered in the BVI.
 
#5
With the activity of the company it is going to be complicated, however, if you succeed with hte account opening with OCBC Singapore then please post here so we may know.
 
#7
Admin said:
With the activity of the company it is going to be complicated, however, if you succeed with hte account opening with OCBC Singapore then please post here so we may know.
Click to expand...
  • OCBC Singapore - Initial deposit: US$ 30,000 OR SGD 30,000 - Require a personal visit
  • Heritage Swiss Bank - Initial deposit US$ 250,000 OR CHF 250,000 - Require a personal visit.
Below documents is required for bank application
  1. Certified copies of the valid identification document (passport/ID card) for all Beneficial Owners and Authorised Signatories
  2. Proof of Residential Address for all Beneficial Owners and Authorised Signatories (not older than 6 months)
  3. Certificate of Incorporation or Extract from the local Commerce register (not older than 6 months)
  4. Signed and Certified Memorandum & Articles of Association
  5. Register of Shareholders
  6. Register of Directors of the Company, or equivalent document
  7. Document listing Authorized Signatories of the Company and defining capacities
  8. Minutes/Power of Attorney authorizing the opening of the account, signing this Form and related documentation
  9. Copy of recent financial statement or audited statement (if mandatory)
  10. Ownership structure explaining the control of the Company (if complicated)
 
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#8
and why you posted the requirements?
 
#10
ARM1 said:
  • OCBC Singapore - Initial deposit: US$ 30,000 OR SGD 30,000 - Require a personal visit
  • Heritage Swiss Bank - Initial deposit US$ 250,000 OR CHF 250,000 - Require a personal visit.
Below documents is required for bank application
  1. Certified copies of the valid identification document (passport/ID card) for all Beneficial Owners and Authorised Signatories
  2. Proof of Residential Address for all Beneficial Owners and Authorised Signatories (not older than 6 months)
  3. Certificate of Incorporation or Extract from the local Commerce register (not older than 6 months)
  4. Signed and Certified Memorandum & Articles of Association
  5. Register of Shareholders
  6. Register of Directors of the Company, or equivalent document
  7. Document listing Authorized Signatories of the Company and defining capacities
  8. Minutes/Power of Attorney authorizing the opening of the account, signing this Form and related documentation
  9. Copy of recent financial statement or audited statement (if mandatory)
  10. Ownership structure explaining the control of the Company (if complicated)
Click to expand...
Does Maubank - Mauritius need personal visit or can be opened remote online?
 
#11
If you manage to get an account in OCBC that would be quite an achievement, please keep us updated.

Regarding Heritage Swiss Bank, they would probably onboard you ... if you are ready to transfer that deposit.

Mauritius banks do not require personal visit.
 
#13
Mark Rucken said:
Mauritius banks do not require personal visit.
Click to expand...
Any idea what Mauritius banks require to open an account with them? if you can list some of the basic requirements maybe?
 
#14
Admin said:
Any idea what Mauritius banks require to open an account with them? if you can list some of the basic requirements maybe?
Click to expand...

As far as I know, you would need to have a local introducer to open an account in Mauritius. I tried on my own and every time they asked me to apply through an authorized introducer, therefore, I do not have much info on Mauritius banks, except that I have been told that a personal visit is not a must since an introducer will additionally certify KYC documents.

enceladus said:
Apart from a personal visit to Singapore and a $30k deposit, why would OCBC be hard to achieve?
Click to expand...

Because almost no reliable bank wants to do anything with BVI company without tax ID, accounting, FS etc. Plus, I assume you have no partners and business in Singapore to justify the reason why do you want to bank in that country.
 
#15
Mark Rucken said:
except that I have been told that a personal visit is not a must since an introducer will additionally certify KYC documents.
Click to expand...
and you didn't find any introducer yet or where are you with the bank account at the moment, what stage?
 
#17
Mark Rucken said:
No, I did not find an introducer because I do not need Mauritius account desperately (I have alternative accounts) since I need to pay some EUR 500 - 1000 to the introducer, I gave up on this project.
Click to expand...
Okay, I assume you are using an EMI account or similar for your business.
 
#20
ARM1 said:
  • OCBC Singapore - Initial deposit: US$ 30,000 OR SGD 30,000 - Require a personal visit
  • Heritage Swiss Bank - Initial deposit US$ 250,000 OR CHF 250,000 - Require a personal visit.
Click to expand...
Is there a required minimum balance to keep as well, or just initial deposits (which can then be taken out)? How are the fees looking?
 
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