How to Open an Offshore Bank Account

The process of setting up an offshore bank account involves the below 4 steps. We at Business Setup assist our clients from the very initial stages till the end to successful open the bank account.

1 STEP

Choose your preferred Bank from the list of the banks at different Offshore locations

2 STEP

Provide us your Basic details and supporting documents required by the chosen bank

3 STEP

Complete the required Know-your-Client (KYC) and Bank verification procedures

4 STEP

Upon successful Bank notification, the bank account is ready for International use along with other facilities opted

Offshore Bank Application

Companies and individuals can apply to open an offshore bank account with banks in different jurisdictions around the world.However, the requirements to open an bank account may vary for banks in different jurisdictions based on the laws of the land.

Remote Application

Applicants can apply to open an offshore bank account from the comfort of the home.
Submit the filled appliation and required documents.
Schedule an online meeting with bank officials to compete the verification.
Businesssetup will assist clients in completing the application, submitting right documents and schedule meetings.

Physical Application

Applicants need to visit the banks to submit the application & supporting documents.
The physical presence is required to complete the KYC and submit the signed documents.
Banks in Hong Kong, Singapore require personal visit by the applicants.
Businesssetup will assist clients with application, document and schedule the

Documents Required to Open a Bank Account

Documents required for a Corporate Offshore Bank Account:

Copy of passport
Copy of utility bill
Bank reference letter
Professional reference

Notarized set of company documents that include:

Memorandum of Association (MOA)
Articles of Association (AOA)
Certificate of Incorporation
Register of Directors
Register of Members/ Shareholders
Outline of the company structure
Detailed business plan

Documents required for a Personal Offshore Bank Account:

Copy of passport
Copy of utility bill
Bank reference letter
Professional reference
Concrete proof of income

Offshore Banking Partners

Our partner banks will provide banking facilities to our clients upon completing the due deligience. Here are some of our partners in various Offshore jurisdictions.

Offshore Jurisdiction	Bank Name	Minimum Deposit	Average Time	Remote KYC
Mauritius	State Bank of Mauritius	Nil	1 Day	Yes
Mauritius	Bank One	USD 10,000	2-3 weeks	Yes
Mauritius	Mauritius Commercial Bank	Nil	1-2 weeks	Yes
Mauritius	ABC Banking Corp	USD 5,000	3-5 days	Yes
Singapore	Citi Bank	S$ 50,000	10 - 15 days	No
Singapore	OCBC Bank	USD 10,000	2 weeks	No
Cook Islands	Capital Security Bank	USD 20,000	3-5 days	Yes
Cayman Islands	EFG Bank	USD 5,000	2 weeks	Yes
St. Kitts and Nevis	Bank Of Nevis	USD 10,000	1 week	Yes
Belize	Heritage International Bank	USD 3,000	15 to 20 days	Yes
Puerto Rico	Euro Pacific Bank	USD 500	5-7 days	Yes
Switzerland	CIM Bank	CHF 1,000	2-3 weeks	Yes
Cyprus	Bank of Cyprus	EUR 1,000	Case to case	No
Turkey	Euro Deniz IBU	EUR 1,000	3-5 days	Yes
Armenia	UniBank OJSC	Nil	3-5 days	Yes
Latvia	Rietumu Banka	EUR 100,000	2 weeks	Yes

Disclaimer

One may choose to open a bank account in the given locations after one's company registration. The user has no obligation to select from the list, and may propose another bank of choice. BSW is not proposing any bank services. An introduction service includes the preparation of the application form and the submission of the file to bank. The acceptance of the same is at the sole discretion of the bank authorities.

Bank account opening application is subject to mandatory due diligence by the bank and clauses under national and international (FATF) standards, in particular to prevent money laundering. The content on this page must not be interpreted as a proposition to waive any due diligence or adherence to standards.

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How to Open an Offshore Bank Account