Worldwide Corporate

Bank Accounts

Bank Account Opening

While the British Virgin Islands (BVI) are just one of many locations catering to offshore companies and offshore banking, few jurisdictions offer flexibility of a BVI company and bank account.

Aside from confidentiality – the registry limits personal information to public exposure. Moreover, company reporting requirements are minimal. The BVI pioneered many of the financial and tax benefits used by offshore jurisdictions, and still has the greatest number of registered offshore companies. Plus, BVI has some of the strongest, safest banks in the region.

Thus, we have developed a banking network and expertise which enables us to open accounts for all companies we register. Obviously, the final decision to open an account depends on the bank, but our account opening success rate is close to 95%.

Our professional status as “International Corporate Service Provider” and our signing of a good conduct charter give us the status of “eligible introducer” in the eyes of financial establishments in general.

As a result of this, opening an account and managing the dossier are much simpler; we send the banking file directly to our clients. We can also open bank accounts by correspondence for the majority of banks we work with.

Our clients can benefit from the following options offered by a majority of our banking partners: Internet Banking, Standing order/ Direct debit, Cheque book, Credit card or Debit card, BACS, CHAPS available, Telephone banking. Normally you will benefit from a period of FREE business banking transaction on a day-to-day basis; a bank account can be open in Euro, US dollar, Pound Sterling, Swiss Franc, Japanese Yen or local currency.

We have made this process as fast and integrated as possible in order to ensure that you receive a first-class service. Throughout the process we are kept up to date with your bank account progress. We do not have any signing rights on the account unless you explicitly instruct us to act as signatories in trust or as a part of the nominee services we provide.

Our company provides professional advice on selection and collaboration with well-established bank for each client individually; we undertake a full set of services on the organization of cooperation with the most reputable and respected banks.

Our clients refer to us as being fast, accurate, responsive but yet very affordable. TBA & Associates kept up that reputation for years and the company is appreciated by the community of world financial institutions. We are pleased to know that the communication between the bank and our clients is most productive from the point of view on receiving concrete high-quality services by mutually beneficial obligations.

How TBA chooses its network of Banks

With our 17 years of experience in the field, we are able to select banks that are secure, provide excellent services, and numerous banking facilities (e-banking, credit cards, letters of credit, etc.).

In addition, other important characteristics are analised before selecting a bank, such as:

  • Political and economic stability of the country where the bank is located.
  • Bank confidentiality to preserve the privacy of our customers.
  • Financial guarantees of the bank to avoid the risk of bankruptcy.
  • Excellent reputation of the institution.
  • Wide range of financial products offered.
  • Which account for which customer?

TBA customer profile differs one from each other, including, among others, entrepreneurs, pensioners, shareholders, import-export businessmen, heirs, consultants and patent owners. We have, therefore, developed a banking network where an account can be opened for any type of activity.

Bank facilities are available

As a general rule, the following facilities are available from all banks and financial establishments we work with:

  • Multi-currency accounts
  • E-banking
  • Trading in currency, shares and other titles
  • Interest bearing accounts
  • Credit card and debit card; and
  • Letter of Credit

We point out that it is difficult for offshore companies to establish credit lines, loans or other cash facilities unless assets are deposited with a bank to serve as collateral.

International recommended Banks

Currently there are seven BVI banks operating. None of the banks in the BVI will currently accept US or Canadian account signatories. This is because of the harsh FATCA laws and the Canadian equivalent which banks must follow for such clients. So, if someone in these countries wants a BVI company and bank account, they would likely be better off going with Nevis, a neighbouring island. Moreover, the privacy and asset protection laws in Nevis, are extremely high.

Alternatively, if you want to establish a BVI company and bank account, we can establish the company in BVI and the bank account in another jurisdiction. So, you are not stuck with a BVI bank just because you have a company in BVI.

Banks we have protocols with and wish we do recommend to all our clients:

ABC Banking Corporation, Mauritius
Atlantic International Bank, Belize
Banco Bilbao Vizcaya Argentaria (BBVA), Spain
Banco Sabadell, Spain, Madrid (*)
Bank of Nevis International Ltd
Bankinter, Spain, Madrid
Barclays Bank, UK
Bendura Bank, Liechtenstein
BFI, Cape Vert
BlueOrange Bank, Latvia
BOC, Bank of Cyprus
BOSLIL, Bank of Saint Lucia Limited
Capital Security Bank, Cook Islands
Cayman National Bank and Trust Company (Isle of Man) Limited
CGD, Caixa Geral de Depósitos, Portugal
CIM Banque, Switzerland
Citizens Bank, Philadelphia, USA
DBS Bank, Singapore

Euro Pacific Bank, Puerto Rico
Heritage International Bank & Trust Ltd
HSBC, Hong Kong
HSBC, UK
ICICI Bank, UK
JPMorgan Chase, Boston, USA
Mau Bank, Mauritius
National Bank of Vanuatu, Vanuatu
NatWest, UK
Nedbank Private Wealth, Isle of Man
Noor Bank, Dubai
Pacific Private Bank, Vanuatu
Pacific Western Bank, California, USA
Silicon Valley Bank, California, USA
TD Bank, Toronto, Canada
Vanuatu National Bank, Vanuatu
Verso Bank, Estonia
VP Bank, BVI

Amongst others… If either of these banks or jurisdictions to set up your corporate bank account suits you, we shall be very pleased to assist you.

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