BVI Company Formation

BVI Company Formation Cost

Services GOLD
1430 USD
PLATINUM
1980 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1430 USD 1980 USD
Annual renewal fee 1210 USD 1800 USD

BVI company types and regulation

Goverment

Formation of companies in the British Virgin Islands is governed by the BVI Business Companies Act, 2004 (“the Act”), under which the following types of business companies (“BC”) can be set up for international trade and investment

  1. a company limited by shares;
  2. a company limited by guarantee that is not authorised to issue shares;
  3. a company limited by guarantee that is authorised to issue shares;
  4. an unlimited company that is not authorised to issue shares; or
  5. an unlimited company that is authorised to issue shares.

Using the above company types, you can also set up a restricted purposes company (SPV) or a segregated portfolio company.

The regulating authority is the Financial Services Commission which is responsible for the sector of financial services in the British Virgin Islands.

Free Consultation

Details you need to know about formation in the BVI

All companies formed in the BVI must have a local registered office which can be the address of the company’s registered agent (there are about 70 registered agents in the BVI regulated and licensed by the Financial Services Commission, the list is available on the FSC web site).

BVI companies are not subject to income or other taxes, irrespective of the source of income. The only exception is the salary tax imposed on companies engaging local employees. However, the companies pay annual fee depending on the amount of the company’s capital (for instance, the annual fee for companies having the capital of up to $50,000 is $350, and for companies the capital of which exceeds $50,000 – $1,100).

There must be at least one director (whether individual or corporate, resident or not), and the first director(s) must be appointed within 6 months following incorporation. Details of directors (including the names and addresses, dates and appointment and removal/retirement) shall be recorded with the register of directors to be kept at the company’s registered office.

finance-centre

Companies formed under the British Virgin Islands BC Act are required to keep at the office of their registered agent (apart from the M&AA):

  • original or a copy of the register of members (any updates to which are to be notified to the registered agent within 15 days)
  • original or a copy of the register of directors (any updates to which are to be notified to the registered agent within 15 days)
  • other records, such as minutes of meetings and resolutions of members and directors, etc.

Where a company keeps original registers of members and directors at another place, it must notify the registered agent of the physical address of the place where such registers are kept, and of the person keeping such registers.
Any failure by a company to comply with the above requirements constitutes an offence and exposes the company to a fine of $10,000.

However, it should be noted that the register of directors and the register of members are not public (unless the company chooses to make them public), which brings us to another sensitive point of discussion, considering all and any new regulations for disclosure of persons having significant control over the company, and namely, what information is open to public in the BVI.

FSC

Confidentiality: what’s on public register in relation to companies set up in the BVI

No public record is maintained as to the identity of shareholders or directors. Public records of Business Companies consist only of the Certificate of Incorporation, Memorandum and Articles of Association, name and address of the registered agent, the record of payment of the annual fees, amendments to the Memorandum and Articles of Association or agreements concerning arrangements, mergers or consolidations, winding-up or dissolution of a BC. Optionally, the public record may contain other document as the company may wish to place there, such as a Register of Mortgages, Charges and other Encumbrances, Registers of Directors, Registers or Members, and Registers of Officers, but these are not obligatory. They are filed at the sole option of the Company.

In June 2017, a new law was enacted in the BVI introducing the Beneficial Ownership Secure Search System which provides for creation of a register of beneficial owners accessible only by authorized persons. The law obliges the registered agents to collect information on beneficial owners of BVI business companies and upload the same to the BOSS System.

The law requires that any BC identify any person who is a beneficial owner and notify the registered agent thereof within 15 days. The following details of beneficial owners must be included in the database: full name, residential address, date of birth, nationality.

Penalties for a failure to comply with the above provisions (including provision of any false information) may even reach the amount of $250,000 and/or imprisonment for a term of 5 years.

What is important is that the beneficial owners database is not public; access to the information is allowed only to persons designated according to the Exchange of Notes Agreement entered into with the UK. Thus, the agreement operates only between the British Virgin Islands and the UK. More details can be available from the text of the Beneficial Owners Secure Search System Act, 2017.

The said obligation of the registered agent to collect information on beneficial owners in no way restricts or affects its separate obligation to collect and verify information on beneficial owners stipulated by the anti-money laundering laws of the British Virgin Islands.

Nominee Services for BVI BCs

Beach in BVI

Apart from the company formation services, we also provide nominee directors and nominee shareholders for BVI companies.
Provision of nominee services (essentially, the trust business) is regulated by the BVI Financial Services Commission, and, currently, about one hundred companies have corresponding trust license (including us), however, quite no one offers nominee directors or shareholders residing in the BVI. Nevertheless, it is possible to order the services of professional directors and shareholders, though recently, the requirements to the client’s compliance documents have grown significantly. Nominee shareholders and directors enter into the relations of a simple trust, issue deeds of trust, following which the following documents are provided to the client:

  • in case of a nominee shareholder:
    • Deed of Trust
    • Instrument of Transfer
  • in case of a nominee director:
    • apostilled Power of Attorney
    • Resolution approving the issue of such Power of Attorney
    • Director’s Letter of Consent
    • Director’s Letter of Resignation
    • Nominee Director’s Declaration

Terms for setting up a company in the BVI

The average term for setting up a new company in the BVI makes two weeks. It can be a bit shorter or a bit longer, depending on your purposes and the documents you need to receive. If you are good with standard documents but would like to give a certain name to your company, incorporation will not take long. If, say, you want to introduce amendments to the company’s Memorandum and Articles of Association, it will take more time to check up such amendments with the lawyers for compliance with the BVI BC Act.

Shelf Companies

Purchasing a shelf (ready-made) company in the BVI is a good alternative for those who need to make a quick start and proceed with business operations immediately (you can receive the corporate documents within 1 day), provided that no personal changes to the company documents are required, and you can choose a name from the list available with the registered agent. Being registered agents authorized and licensed by the BVI Financial Services Commission, we always have shelf companies for sale – you only need to choose a name and provide your details required for compliance with the British Virgin Islands BC Act 2004 and Anti-Money Laundering Regulations.

yachts in BVI

Financial Statements of the BVI incorporated companies

Any company formed in the British Virgin Islands shall keep records sufficient to show and explain its transactions and allowing for the financial position of the company to be determined with reasonable accuracy. The financial records are not required to be audited, filed with any authorities and are not publicly available.

The Act uses the term “financial records and underlying documentation“ which the company should maintain and also provide the registered agent with the name of the person who is responsible to maintain and control the financial records and the underlying documentation of the company and the address where these are kept.

Any company failing to comply with the above requirements can be subject to a fine of $10,000. A failure to provide the financial records under one of the BVI agreements on exchange of tax information may increase the fine up to $100,000 or even threaten an imprisonment for a term of up to 5 years.

Bank Accounts for business companies formed in the BVI

Opening bank accounts for an offshore company has never been an easy task, and now it is still possible to find jurisdictions where accounts for a company set up in the British Virgin Islands are allowed, though subject to a number of restrictions. For instance, in Switzerland, Liechtenstein, or Austria, you can open a bank account for your BVI company, but only a savings account, so it will be required to block a certain, quite significant amount which is due to a global emerging trend.

It can be presumed that your search for a jurisdiction for opening a bank account for a BVI company will end in the Islands themselves, that is you try to open a bank account in one of the banks in the jurisdiction where your company is registered. Thus, we can analyze the banks licensed in the British Virgin Islands. Currently, there are 6 banks operating in the BVI, namely

  • Scotiabank (British Virgin Islands) Ltd, which is a Canadian bank and is extremely demanding for their customers and their payments, next following are
  • Banco Popular De Puerto Rico
  • First Bank Puerto Rico, and
  • First Caribbean International Bank (Cayman) Limited, reliability of which is rather doubtful due to the jurisdiction of their incorporation.

office

What is more, the above 4 banks are aimed at provision of services to the local business – the companies doing business within the BVI, and it does not seem very much practical to apply to these banks for opening an account.
The 5th bank is VP Bank (BVI), a member of the VP Bank Group, Liechtenstein, which is specialized in opening investment accounts only.
The 6th bank is the newly launched Bank of Asia (BVI) Ltd., which held its opening presentation on July 19, 2018, so, it has been operating for 2 months by now, and even in this situation, some issues related to opening accounts and making payments look uncertain.
Thus, opening a bank account for a BVI company in a bank licensed in the British Virgin Islands is limited to above financial institutions, subject to the mentioned restrictions and provisions.

In general, the BVI Business Companies Act is a modern and very attractive legislation which received a very positive response from the industry in general, both for its flexibility and clarity on some typically uncertain or undeveloped areas of company law. It also reinforced the position of the British Virgin Islands as one of the most attractive offshore jurisdictions worldwide for setting up an international company.

Free Consultation

Opening Bank Account with Caye International Bank Limited (Belize)

Caye International Bank Limited (CIBL) was granted an Unrestricted “A” Class International Banking License on September 2003 by the Central Bank of Belize. The regulatory authority is the Central Bank of Belize (CBB) who set the standards for liquidity and capital adequacy. CBB maintains that CIBL and other International Banks in Belize maintain a liquidity of 24%. This requirement ensures the safety of our Bank.

CIBL is the International Bank on the Beautiful Island of Ambergris Caye, Belize, Central America and its license permits them to carry on business with both individuals and corporations who are non-residents of Belize. Bank offers a full range of traditional and non-traditional banking services and accounts.

The bank accepts US citizens and US registered companies.
Belize is a part of Organization of Economic Co-operation and Development (OECD).

Overview of the basic services:
  • Both corporate and private accounts
  • Opening bank accounts in CAD, CHF, EUR, GBP, USD (no multi-currency accounts)
  • Internet banking (view/check balance/history of transactions)
  • Issue of corporate cards: MasterdCard (cards are generic and do not contain any customer or company name only Caye International Bank name)
  • Pre-compliance procedures for new customers (upon receiving all scanned documents)
Required documentation for a bank account opening with Caye International Bank:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille, Certificate of Incumbency with an apostille, Certificate of a Good Standing with an apostille (for companies older than 1 year, can be replaced by Incumbency Certificate);
  • Certified copy of a passport (for all controlling persons, signatories, directors, nominees, officers and trustees of the company)
  • Certified copy of a recent utility bill with address. Document should not be older than 3 months;
  • Both bank reference and personal professional references (CPA, auditor, lawyer) for all shareholders, signatories, nominees, trustees, directors of the company confirming that the client have maintained a relationship with the issuer for at least 2 years. Document should not be older than 3 months;
  • Company business plan (with the account owner’s signature) / business forecast / website (if any)
  • Filled application form
  • CV
Remote account opening:
  • it is allowed to open an account without signatory being physically present.
Deposit terms:
  • Non-refundable application fee: 100 USD / 350 USD (for accounts affected by FACTA regulations)
  • Minimum deposit of 1000 USD (or equivalent in other currency)
Required time to open an account:
  • 4-6 weeks
Website:
Fees & rates:
Our assistance services:

Companies under our administration

  • 500 USD

Other companies

  • 1000 USD

For more information on the company services contact us by or by phone +44 207 822 8592

Belize

Belize company incorporation packages

Services GOLD
1320 USD
PLATINUM
1870 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1320 USD 1870 USD
Annual renewal fee 830 USD 1420 USD

Why choose us for your Belize offshore company formation?

  • fast and efficient service, no unnecessary delays
  • best competitive prices – lower incorporation cost and subsequent maintenance fees
  • quick status updates on orders
  • professional service – we are a group of companies with over 20 years of experience in the company formation industry
  • comprehensive, all-in-one service – with 187 employees working in 6 offices worldwide not only do you get Belize company registration, but also legal and tax advice, bookkeeping and audit, immigration and second citizenship, translation and other international business services

Why open a company in Belize?

Here are just a few reasons why businessmen and entrepreneurs may want to register a company in Belize for their international business:

  • No legal restrictions on the residence of people who own (shareholders) or manage (directors) a Belize company
  • No minimum share capital: a Belize company can only issue and pay up one share
  • No corporate tax (if your company does not receive any profit in Belize)
  • No statutory requirement to file financial statements or tax returns (if your company does not receive any profit in Belize)
  • You can buy a Belize shelf (ready-made) company when you do not have time to incorporate a new company in Belize. Paperwork can be completed in just a few hours, subject to approval from compliance department
  • Dividends can be declared at any time, provided that the company meets the solvency test
  • Mergers and acquisitions: Belize companies are allowed to merge with Belize or foreign companies, and the surviving company may be located either in Belize, or in a foreign country
  • Redomiciliation: Belize companies can continue in another jurisdiction which allows re-domiciliation

Belize IBC incorporation

Belize IBC vs. Belize LLC

Although Belize offers a variety of business organization forms, a Belize IBC (International Business Company) is by far the most popular. It should be distinguished from a Belize LLC (Limited Liability Company): an LLC has a different ownership and management structure and all its profits and losses must be allocated to its members within a single fiscal year, whereas an IBC can “retain” its earnings from year to year. Overall, Belize IBC formation is much more common for a non-resident operational business.

Statutory requirements

Every Belize IBC must have a local registered office and a registered agent.

The company is required to have at least one director and one shareholder, whether individual or corporate, resident or not.

There is no minimum share capital. IBCs with the authorized share capital of more than $50,000 pay a higher government fee. Bearer share shave recently been prohibited.

Register of Directors

The International Business Companies (Amendment) Act 2017 imposed on IBCs the requirement to keep a register of directors and determined what information it must contain in the cases of individual and corporate directors. It is true that many companies chose to have such register even before the enactment, but the amended Act disposed with the optionality and made it an obligation.

A register of directors can be kept electronically, with a copy necessarily provided to the registered agent and kept at the registered office. A register of directors is NOT public.

Register of Beneficial Owners

The International Business Companies (Amendment) Act 2017 also imposed on IBCs the requirement to keep a register of beneficial owners, which must contain accurate and up-to-date information on the companies’ beneficial ownership.

A beneficial owner is defined as a natural person who ultimately owns or controls a customer, on whose behalf a transaction is being conducted, or who exercises ultimate effective control over a legal person or arrangement. The International Financial Services Commission, the Belize corporate regulator, has determined the “ultimately ownership or control” in terms of figures – 10% or more of the entity’s shares, ownership interest or voting rights. The time allowed for a person becoming a beneficial owner of the company to inform that company (effectively its registered agent) accordingly is 30 days.

It is important to note that the register of beneficial owners should be kept at the registered office in Belize, but it is NOT public.

Statutory Instrument No. 62 of 2018 was later passed to also introduce a Declaration of Beneficial Owners (Form A) stating who the beneficial owners of the company are – this is a document that the company’s directors have to sign and submit to the registered agent in addition to the register of beneficial owners.

Accounting Records

With the coming into effect of the Accounting Records (Maintenance) Act 2013, every Belize company is now required to keep its accounting records. Accounting records include financial statements; general and subsidiary ledgers; sales slips; contracts and invoices; and records and documentation relating to: the company’s assets and liabilities, incoming payments and expenses, sales and purchases, and financial transactions.

Accounting records can be kept at the registered office or at any other physical address within or outside Belize chosen by the company’s directors for that purpose. If they are kept outside Belize, the registered agent must be informed of the location’s address and of its change within 14 days. Accounting records must be retained for at least 5 years from the closure of an account, or the end of a transaction, or the termination of a business relationship.

Online Register of Companies

Unlike many classic offshore jurisdictions, Belize has an online register of companies. The information you can get access to is, of course, very limited, most of the important data such as details of directors and shareholders, or share capital, being kept privately. But at least you will be able to see:

  • company name (to check whether a company is indeed on the register);
  • company number; and
  • company status: active/inactive.

Nominees for a Belize IBC

We do not only incorporate Belize IBCs, we provide nominee directors and nominee shareholders for them. It should be noted that to avoid the risk of being treated as tax resident due to the locally exercised “management and control”, offshore companies almost never have resident directors or shareholders. Belize is no exception.

A nominee shareholder effectively holds the shares in trust for the client, agreeing to act upon his legitimate instructions. This trust relationship is created by the nominee shareholder issuing a declaration of trust, or by both the nominee shareholder and the beneficial owner signing a bilateral document – deed of trust.

A nominee director would issue a Nominee Director’s Declaration stating that he only acts on instructions of the client and not of his own free will, and would often issue a power of attorney (general or special) to the client, thus transferring to him most or some of the management powers. This way the nominee director’s name will appear on the register of directors, but the day-to-day operations will be ceded to the client. It is also not uncommon for a nominee director to sign all the operational documentation such as contracts, corporate resolutions, invoices etc, if the client so wishes, in which case the director may want to understand the essence of the transaction.

Provision of nominee services is a licensed and regulated business. And the growing compliance requirements may make the nominees review the documents and business transactions of their clients rather carefully.

New Incorporations vs. Shelf Companies

A new Belize incorporation takes around two weeks on average. It can be a bit shorter or a bit longer, depending on your purposes and the documents you wish to get. If you are happy with the standard documents but would like your company to have a certain name of your choice, incorporation will not take long. If, say, you want to substantially amend the text of the standard M&AA (Memorandum and Articles of Association), it will take longer because amendments should first be checked by a local lawyer for their compliance with the IBC Act.

Buying a shelf (ready-made) company in Belize is a good alternative for those who need to make a quick start and begin business operations immediately. You can receive the corporate documents within 1 day, provided that no personal changes to the company documents are required. All you need to do is to choose a name from the list of available shelf companies and provide your details required for compliance with Belize corporate and anti-money laundering legislation.

Economic Substance (Physical Presence)

In the recent years the laws of many countries have been substantially amended in an effort to increase transparency of international business and close down on tax evasion and treaty shopping. Key offshore jurisdictions, such as BVI, Belize and Caymans, were particularly affected by the coming into force of the economic substance legislation. The term used in Belize is the “physical presence” requirement.

The International Business Companies (Amendment) Act, 2018 came into force on 1 January 2019. Under this new Act, all Belize IBCs are equated to local resident (domestic) companies and can now do whatever domestic companies are allowed to do: conduct business in Belize and with Belizean residents, own local land or property, open bank accounts in Belize dollars etc.

Basically, now IBCs will need to choose, whether to be a Belize resident or not.

If a company chooses to be non-resident, i.e. not conduct business in Belize or receive income from sources in this jurisdiction, it must provide proof that it pays tax elsewhere. It is expressly stated that an IBC does not become a resident simply by the fact of holding deposits in Belize; maintaining contact with local professionals such as lawyers, accountants, administration companies, or investment advisers; or by keeping its books and records in Belize.

If a company chooses to be resident, it must:

  • pay income tax on any profit from a source in Belize, i.e. only in the cases where it carries on business in Belize – territorial principle of taxation;
  • file an Annual Tax Return;
  • pay stamp duty (upon sale and transfer of property; transactions in respect of the shares or other securities of the company; in relation to assets or activities of the company).

If a company has income from sources in Belize, it can obtain a local tax number – Belize Tax ID.

In terms of banking, a resident IBC can have USD accounts at local banks and at foreign or international banks located in Belize; can apply to the Central Bank of Belize for permission to open a foreign currency account at a Belizean bank; has to submit to the Central Bank of Belize monthly reports of all transactions in its USD accounts and of all sales and purchases; and is subject to the Exchange Control Regulations Act.

Physical Presence
The International Business Companies (Amendment) Act, 2018 added a whole new chapter on Physical Presence, making it obligatory for companies to be physically present in Belize if they do any business licensed under the International Financial Services Commission Act.

Physical presence includes:

(a) employment (whether directly or indirectly) of sufficient and adequate number of suitably qualified staff; and
(b) expenses adequate to the size and complexity of business; and
(c) control and management exercised from Belize, in particular if the company:

  1. (a) employment (whether directly or indirectly) of sufficient and adequate number of suitably qualified staff; and
  2. (b) expenses adequate to the size and complexity of business; and
  3. (c) control and management exercised from Belize, in particular if the company:
  • engages at least 2 directors resident in Belize for the purpose of holding, acquiring and disposing of assets; managing the business; making banking and financial arrangements; instructing lawyers, accountants and other advisors; distributing income and dividends;
  • holds its board meetings in Belize
  • states in its M&AA that disputes arising out of or in connection with the company’s activity shall be settled pursuant the Arbitration Act

A company that carries on any other (non-licensed) business may choose to be physically present in Belize. But once it has complied with the physical presence requirement, a company will have to stay compliant for a period of at least five years.

General information

General information

Total area 22.966 sq. km
Population 334.297 (2013)
Capital Belmopan
Unemployment 12.1% (2013)
Corruption perceptions index rank 109 (2008)
Government type parliamentary democracy
Executive branch Government (cabinet of ministers) with a Prime Minister as its head
Legislative branch bicameral National Assembly ( Senate and House of Representatives)
Judicial branch Magistrates Court, the Supreme Court, the Court of Appeal
GDP per capita rank 95 (2012)

Corporate info

Shelf companies permitted Yes
Legal system based on English Common Law
Incorporation timescale for a turnkey company 2 weeks
Cyrillic alphabet permitted in company name No
Local registered office Yes
Types of entity Sole Proprietorship; General Partnership; Limited Partnership; Private Company; Limited Life Company; Public Investment Company; International Business company; Trust Fund; Joint Venture and Cooperative; Branch; Representative office
Incorporation timescale for a new company 1 day
Company suffix Limited, Corporation, Incorporated, Society Anonyme, Sociedad Anonima, Aktiengesellschaft or related abbreviations: Ltd., Corp., Inc., S.A., A.S., A.G.
Sensitive words Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Municipal, Royal or similar words; Assurance, Bank, Insurance, Trust; words suggesting the patronage of Her Majesty or that of a member of the Royal Family, or a connection with the Government of Belize; indecent, offensive or objectionable words

Shares and share capital

Minimum authorized share capital No requirements
Minimum issued share capital No requirements
Minimum paid share capital No requirements
Authorized capital payment deadlines No requirements
Bearer shares permitted Yes
Issued capital payment deadlines No requirements
Standard currency US dollar
Standard authorized share capital 50000
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax 0%
Capital gains tax No
VAT 12.5%
Withholding tax 25%
Exchange control No
Personal tax 25%
Corporate tax (in detail) Business tax is imposed on all gross receipts of persons. Taxable persons are self-employed persons, firms, partnership or company. The rates vary according to the source of the income and range from 0.75% (on the sale of fuel and lubricants) to 25% (withholding tax on non-residents). A Belize International Business Company is not subject to any tax or duty on income or profits.
Capital gains tax. Details There is no capital gains tax in Belize.
VAT. Details General Sales Tax in Belize is a tax on consumer spending, collected in stages; that is, at the point of importation and on business transactions when goods change hands or services are performed. The GST rate is 12.5%.
Other taxes property tax; land tax; environmental tax; customs duties; revenue replacement duty; excise duties
Government fee 100 dollars
Stamp duty 0%

Accounts

Party to the Hague Convention (Apostille) Yes
Legal system based on English Common Law
Double tax treaties network 14
OECD member No
Offshore/onshore status according to the RF laws Yes
Requirement to prepare accounts Yes
Double tax treaties network 14
Tax Exchange Information Agreement network 20
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English Common Law with local modifications and local statutes
Double tax treaties network 14
OECD member No

Tax treaties

Tax treaties entered Antigua and Barbuda, Austria, Barbados, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Switzerland, Trinidad and Tobago, United Arab Emirates, United Kingdom
Tax Exchange Information Agreement (TEIA) Australia, Belgium, Czech Republic, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, India, Ireland, Mexico, Netherlands, Norway, Poland, Portugal, South Africa, Sweden, Switzerland, United Kingdom

 

Opening Bank Account with Caye International Bank Limited (Belize)

Caye International Bank Limited (CIBL) was granted an Unrestricted “A” Class International Banking License on September 2003 by the Central Bank of Belize. The regulatory authority is the Central Bank of Belize (CBB) who set the standards for liquidity and capital adequacy. CBB maintains that CIBL and other International Banks in Belize maintain a liquidity of 24%. This requirement ensures the safety of our Bank.

CIBL is the International Bank on the Beautiful Island of Ambergris Caye, Belize, Central America and its license permits them to carry on business with both individuals and corporations who are non-residents of Belize. Bank offers a full range of traditional and non-traditional banking services and accounts.

The bank accepts US citizens and US registered companies.
Belize is a part of Organization of Economic Co-operation and Development (OECD).

Overview of the basic services:
  • Both corporate and private accounts
  • Opening bank accounts in CAD, CHF, EUR, GBP, USD (no multi-currency accounts)
  • Internet banking (view/check balance/history of transactions)
  • Issue of corporate cards: MasterdCard (cards are generic and do not contain any customer or company name only Caye International Bank name)
  • Pre-compliance procedures for new customers (upon receiving all scanned documents)
Required documentation for a bank account opening with Caye International Bank:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille, Certificate of Incumbency with an apostille, Certificate of a Good Standing with an apostille (for companies older than 1 year, can be replaced by Incumbency Certificate);
  • Certified copy of a passport (for all controlling persons, signatories, directors, nominees, officers and trustees of the company)
  • Certified copy of a recent utility bill with address. Document should not be older than 3 months;
  • Both bank reference and personal professional references (CPA, auditor, lawyer) for all shareholders, signatories, nominees, trustees, directors of the company confirming that the client have maintained a relationship with the issuer for at least 2 years. Document should not be older than 3 months;
  • Company business plan (with the account owner’s signature) / business forecast / website (if any)
  • Filled application form
  • CV
Remote account opening:
  • it is allowed to open an account without signatory being physically present.
Deposit terms:
  • Non-refundable application fee: 100 USD / 350 USD (for accounts affected by FACTA regulations)
  • Minimum deposit of 1000 USD (or equivalent in other currency)
Required time to open an account:
  • 4-6 weeks
Website:
Fees & rates:
Our assistance services:

Companies under our administration

  • 500 USD

Other companies

  • 1000 USD

For more information on the company services contact us

Registration of yachts and vessels under Seychelles flag

The Republic of Seychelles is one of the most attractive and well-known jurisdictions. Seychelles International Business Companies (IBC) can be used also for registration of ownership of yachts and vessels.

Seychelles is a member of the UN, the Commonwealth of Nations, the Indian Ocean Commission, and the International Maritime Organization. It means that Seychelles has adopted appropriate laws and regulations ensuring compliance with international shipping standards.

Vessels and yachts may be registered under Seychelles flag in accordance with the Merchant Shipping Act, 1992.

Upon registration of a yacht or vessel the Certificate of Registration is issued for 5 years and Radio License for 1 year. Tonnage dues and radio license fees have to be paid once a year.

Requirements for registration of yachts and vessels under Seychelles flag

  • The yacht (vessel) must not be older than 15 years;
  • If the yacht (vessel) is longer than 20 meters, then it has to be surveyed by one of the recognized classification societies;
  • Comprehensive technical information and documents for the yacht (vessel) have to be provided;
  • The following documents for the yacht (vessel) also have to be provided:

    • document of title (original/notarized copy of the Bill of Sale)
    • original/notarized copy of the Builder’s Certificate
    • color photo of the yacht (vessel), may be provided electronically
    • copy of the insurance certificate
  • If the yacht (vessel) was previously registered under any other flag, that registration has to be cancelled and the original certificate of deregistration of the vessel has to be provided.

Cost of registration of a vessel under Seychelles flag starts from 2,499 USD.
For more information, please contact our specialists

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Open offshore account in banks of various jurisdictions

The most important factors considered when opening an offshore bank account are safety and simplicity. Many nations have now put in effect mandatory client`s insurance policy which protects rules of non-disclosure and security of accounts.

Opening an offshore account is available to individuals as well as legal persons. The reasons for it may include:

  • Collecting funds
  • International banking activities
  • Investing
  • Payroll purposes
  • Other operations

Based on the type of business, client`s personal and financial background we offer accounts in either Seychelles or other reliable banks. Offshore Company Register can arrange all necessary paperwork and introduce you to a representative of the selected bank.

Be aware that each offshore bank`s conditions differ so you must choose one based on your particular business demands. There are also significant differences in minimal amount of funds required to own an account. For instance, certain banks would prefer much wealthier clients with high gains and investments while others are better suited for smaller start-up companies. Additionally, a number of banking institutions require official meeting with the IBC owner, usually before account opening or at some point after it has been activated.

Bear in mind that banks reserve the right to reject a client`s application if there are suspicions of illegitimate business or any other reasons that might be considered as grounds for refusal. However, once we`ve gotten to know the origins and nature of your business, Offshore Company Register will suggest the most suitable option for your company.

In spite of the rules being stringent when it comes to creating accounts and requiring thorough background check, all private banking information remains under maximum protection and is not disclosed to third parties or any foreign officials. This applies as long as the client does not break any laws. However, in case of extreme criminal offense or other serious circumstances, Seychelles court may order to divulge full records related to a client in question. In other instances, severe fines and sanctions apply to any person disclosing clients’ records.

The website contains a list of banks for familiarization.

To get the full list of the banks that we assist in opening accounts with please contact us by or by phone +44 207 822 8592.

Andorra Andorra

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Morabanc (Available currencies: USD,EUR, other) 300 000 EUR 4 weeks pre-approval available but full list of documents required for pre-approval 500 USD yes

Belize Belize

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Caye Bank international Limited (Available currencies: USD, GBP, EUR and other currencies) 1100 USD 4-6 weeks pre-approval available but full list of documents required for pre-approval 500 USD yes

BVI BVI

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Bank of Asia (BVI) (Available currencies: USD) 1450 USD 3-4 weeks pre-approval available 500 USD yes

Curacao Curacao

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
United International Bank N.V. (Available currencies: USD, EUR, GBP and CHF) 500 USD application review fee (NON REFUNDABLE) 5000 USD activation deposit 4-6 weeks pre-approval available but full list of documents required for pre-approval 500 USD yes
SAI-Bank (Available currencies: USD, EUR, GBP) 10 000 USD activation deposit and minimum balance 4-6 weeks pre-approval available but full list of documents required for pre-approval 600 USD yes

Cyprus Cyprus

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Bank of Cyprus (Available currencies: USD, EUR, GBP, other currencies)* 1500 EUR activation amount, 1000 EUR – minimum balance 6-8 weeks pre-approval available 500 USD visiting the branch or certification of forms and documents in Cyprus/Greek embassy is required
Astrobank (Available currencies: USD, EUR, GBP, other currencies)* 1500 EUR activation deposit 6-8 weeks pre-approval available 500 USD visiting the branch or certification of forms and documents in Cyprus/Greek embassy is required

*For an account opening all companies must also provide detailed information about substance of their business.

Commonwealth of Dominica Dominica

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Paxum Bank (Available currencies: USD, EUR, GBP) 6-8 weeks pre-approval available 600 USD yes

Liechtenstein Liechtenstein

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Bank of Liechtenstein (Available currencies: EUR, CHF, other currencies) 300 000 EUR (can start with smaller amounts but with tendency to grow) 6 month pre-approval available but full list of documents required for pre-approval 600 USD yes

Malaysia Malaysia

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Standard Chartered Bank Malaysia Berhad (Available currencies: RM, USD, EUR, GBP) 200 000 RM 6-8 weeks pre-approval available 600 USD no

Mauritius Mauritius

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
BanyanTree Bank Limited (Available currencies: USD, EUR, GBP, other currencies) 500 USD review fee & 100 000 USD minimum balance from 5 weeks after all documents in originals received in bank, pre-approval available but full list of documents required for pre-approval 1500 USD yes
SBM Bank Mauritius Ltd (Available currencies: EUR, USD, GBP, other currencies) 10 000 USD from 5 weeks after all documents in originals received in bank, pre-approval available but full list of documents required for pre-approval 1500 USD yes
Afrasia Bank Limited (Available currencies: USD, EUR, GBP, other currencies) 10 000 USD from 5 weeks after all documents in originals received in bank, pre-approval available but full list of documents required for pre-approval 1500 USD yes

Puerto Rico Puerto Rico

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
Euro Pacific Bank (Available currencies: USD, GBP, EUR, other currencies) 1000 USD or equivalent currency 3-4 weeks pre-approval available 500 USD yes

St. Lucia St. Lucia

Name of bank Deposit Account opening period Cost for clients of Offshore Company Register Possibility of remote
account opening
Boslil Bank (Available currencies: USD, GBP, EUR and other currencies) **only companies without the Nominee service) 5000 USD 4-5 weeks pre-approval available but full list of documents required for pre-approval 500 USD yes
Hermes Bank (Available currencies: EUR, JPY CNY) 5000 EUR 4 weeks pre-approval available 400 USD yes

**Not opening accounts for companies with the Nominee service.

Switzerland Switzerland

Name of bank Deposit Account opening period Cost Possibility of remote
account opening
C.I.M. Banque (Available currencies: USD, EUR, CHF)** 20 000 USD/EU/CHF – activation deposit, 1000 USD/EU/CHF – minimum balance 3 weeks pre-approval available 600 USD Yes, bank will request identification via Skype-like software

***Not opening accounts for classic offshore companies or companies with the Nominee service.

Are You searching for a perfect bank for Your business? Contact us now for a free consultation!

Disclaimer

An offshore bank account opening is not automatic, and is not guaranteed. Banks have different client-acceptance policies, and may reject clients from certain countries or with certain types of businesses. The account introduction fee is payable for a professional service rendered by us, whereby we introduce the client to a particular bank. Please note that the bank account introduction fee, as quoted in our fees schedule, is not a “success fee” payable for a bank account opening. Payment of this fee does not guarantee the opening of the account! A bank introduction means exactly that – we will introduce You to a suitable bank as a potential client. Many offshore banks feel more comfortable accepting new clients through licensed professional intermediaries (like us). However, we can not and we do not guarantee that the account will be opened! While we apply our best effort and our considerable experience to determine in advance whether a particular client might be accepted by a particular bank and to help prepare the application documents and information to look as suitable as possible for the bank, this does not in any way guarantee the success of the account opening. The success of a bank account opening for an offshore company mostly depends on the background information of the beneficial owner of the company, his personal profile and the pattern of his business. This is something that we can not influence. Every bank has its internal client acceptance guidelines (which change often), and banks routinely reject new clients based on a multitude of subjective considerations.

 

 

Opening Bank Account with United International bank N.V. (Curacao)

Established in 2009, United International Bank N.V. provides a broad range of private and corporate banking products and services as well as treasury and securities services.

The Bank operates an online web-based internet banking system. The Bank offers local and international payment services. Bank communicates in Dutch and English languages.

The bank accepts US citizens and US registered companies.
Curacao is a part of Organization of Economic Co-operation and Development (OECD).

Overview of the basic services:
  • Opening bank accounts in USD, CHF, EUR, GBP
  • Internet banking
  • Issuing corporate cards
  • Pre-compliance procedures for new customers (upon receiving all scanned documents)
Required documentation for a bank account opening with United International:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille, Certificate of Incumbency with an apostille, Certificate of a Good Standing with an apostille (for companies older than 1 year, can be replaced by Incumbency Certificate);
  • Board resolution regarding the opening of a bank account with United International Bank
  • Certified copy of a passport or government-issued photo ID (for all controlling persons, signatories, directors of the company)
  • Certified copy of a recent utility bill. Document should not be older than 2 months;
  • Bank reference letter addressed to United International Bank;
  • Company business plan (with the account owner’s signature) / business forecast / website (if any)
  • Filled application form
  • CV
  • Structure chart
Remote account opening:
  • It is allowed to open an account without signatory being physically present.
Deposit terms and application fee:
  • Non-refundable application fee 500 USD
  • Deposit – 5000 USD
Required time to open an account:
  • 4-6 weeks
Website:
Fees & rates:
  • Provided upon request
Our assistance services:

Companies under our administration

  • 500 USD

Other companies

  • 1000 USD

Opening Bank Account with Standard Chartered Bank Malaysia

Standard Chartered Bank Malaysia is an international bank based in Malaysia.

The Bank was locally incorporated as Standard Chartered Bank Malaysia Berhad in 1984. As the country’s first and oldest bank with over 140 years of history, Standard Chartered to date employs more than 7,000 employees for its Malaysian operations, a global shared service centre Standard Chartered Global Business Services

Standard Chartered Bank Malaysia provides a comprehensive range of financial products and services to individuals and corporates. It has deepened relationships with corporates by supporting their international expansion in our footprint markets.

Bank is working in compliance with internationally accepted best practices in global banking.

Overview of the basic services:
  • Online Banking 24/7 & Mobile banking
  • Bank accounts in RM, USD, GBP and EURO
  • Personal and business accounts (saving & current accounts)
  • Unique IBAN
  • Debit cards
  • Loans
Required documentation for a bank account opening with Standard Chartered Bank Malaysia:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille.
  • Certified copy of a passport for all controlling persons and signatories;
  • Certified copy of a recent utility bill for controlling persons and signatories;
  • Bank reference letter;
  • Company business plan and forecast, suppliers / buyers list;
  • CV/Resume for all controlling persons;
  • Detailed description of owned assets and income for beneficiary and initial deposit source.
Remote account opening:
  • Not available
Deposit/account opening terms:
  • No application fee
  • NMinimum balance 2,000 RM for MYR account or 10,000 USD for Foreign Currency Account
  • NActivation deposit 200,000 RM (or MYR+Foreign Currency)
Required time to open an account:
  • Estimated account opening 5 weeks
Website:
Fees & rates:
Our assistance services:

Companies under our administration

  • 600 USD

Other companies

  • 1200 USD

Opening account with South American International Bank (SAI-Bank)

South American International Bank Curaçao N.V. (SAI-Bank) is an international bank registered in Curaçao and established in 1982 with its main office located in Willemstad. Bank offers a comprehensive range of financial solutions for companies as well as high net worth individual clients.

Bank’s dedicated, convenient and efficient account opening process ensures that clients receive the highest level of service for personal and corporate banking needs. Bank applies a strict ‘Know Your Client’ policy combined with a solid and traditional banking model. Bank also applies conservative risk management policies, as evidenced by its strong capital ratios.

Overview of the basic services:
  • Bank accounts in USD, EUR and GBP
  • Internet banking
  • MasterCard credit cards
Required documentation for a bank account opening with with SAI-Bank:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille. Bank Reference Letter of the principal shareholders/beneficial owners issued within 3 months;
  • Certified copy of a passport and second identification document for all controlling persons and signatories;
  • Copy of a recent utility (not older than 3 months) bill for controlling persons and signatories;
  • Company business plan (with the account owner’s signature) / business forecast / website (if any);
  • Filled questionnaire for pre-compliance;
  • CV
Remote account opening:
  • Available
Deposit/account opening terms:
  • Account activation deposit and minimum balance 10000 USD
Required time to open an account:
  • 4-6 weeks
Website:
Fees & rates:
Our assistance services:

Companies under our administration

  • 600 USD

Other companies

  • 1200 USD

Opening Bank Account with Paxum Bank (Dominica)

PAXUM BANK LIMITED is an international bank based in Dominica, member of PAXUM GROUP, offering financial solutions for individuals and companies.

PAXUM BANK is licensed and authorized by the The Financial Service Unit (FSU) of Dominica since 2016.

Paxum Bank offers traditional banking services to individuals and companies worldwide. Due to the flexibility and ease of online and mobile banking with Paxum Bank clients are able to access digital platform from anywhere in the world without a hassle.

Bank is working in compliance with internationally accepted best practices in global banking.

Overview of the basic services:
  • Online Banking 24/7 & Mobile banking
  • Opening bank accounts in USD, GBP and EURO
  • Opening personal accounts (saving & current accounts)
  • Opening business accounts (saving & current accounts)
  • Debit cards
Required documentation for a bank account opening with Paxum Bank:
  • Copies of corporate documents with an apostille, full set of documents showing link to controlling person, Power of Attorney (if any) with an apostille. Bank Reference Letter of the principal shareholders/beneficial owners issued within 3 months;
  • Certified copy of a passport and second identification document for all controlling persons and signatories;
  • Copy of a recent utility (not older than 3 months) bill for controlling persons and signatories;
  • Company business plan (with the account owner’s signature) / business forecast / website (if any);
  • Filled questionnaire for pre-compliance;
  • Bank Statements for the past 3 months or a
  • recommendation letter from Accountant or an Attorney
  • CV
  • detailed description of owned assets and income for beneficiary
Remote account opening:
  • Available
Deposit/account opening terms:
Required time to open an account:
  • Estimated account opening 5 weeks
Website:
Fees & rates:
Our assistance services:

Companies under our administration

  • 600 USD

Other companies

  • 1200 USD