British Virgin Islands Business Bank Accounts

Business Bank Accounts: Opening a Bank Account in the BVI

A business bank account is where you deposit payments, pay suppliers and staff, draw out petty cash and complete all of the other fundamental financial transactions involved in running a business.

If you’re running a business, you will need a business bank account. You simply can’t survive without one. It’s the focal point of your finances, the point through which money flows in and out of your business. After your company has been incorporated we can assist you with opening a bank account for your business. Our management is highly confidential and personal. We develop a high degree of trust with our clients by giving them a truly personalised BVI banking solution.

If you wish to open bank account for your BVI Business Company, than the optimum choice for you would be probably a bank, located in the British Virgin Islands. BVI has flexible and dynamic banking sector, with numerous strong commercial banks offering modern international banking services. There are some banks particularly specialised in international banking and opening accounts owned by non-residents (including International Business Companies). First Caribbean International Bank and First Bank BVI - both of them offer credit cards and internet banking facilities, along with the standard banking services.

As the offshore service provider we must offer various optional services which enhance the confidentiality and functionality of the offshore company. Bank account introductions are one of them, along with provision of individual and corporate directors, nominee shareholders, mail and fax forwarding services, document custody and re-mailing services, etc.

Our experts will help you to pick up bank in which it is the most convenient to open the account for your company, will prepare the necessary complete set of documents according to bank requirements, and if necessary will translate documents and will assure them notarially. After opening the settlement account you can take advantage of bank services: remittances, converting, operations with a cash, etc. You can spend any operations under the account and receive extracts, not leaving the house or office, and all this for you will be maximal protected.

Coddan CPM suggests you to open business bank accounts in the First Bank BVI, First Caribbean International Bank, Bank of Cyprus (in London), Royal Bank of Scotland, Barclays, Lloyds TSB, HSBC which provide a full spectrum of bank services, keeping confidentiality of the information and protecting your interests. Agreement about opening the bank account subscribes between you and bank.

We can help to open bank accounts for the limited liability companies, public companies, limited liability partnership, guarantee companies, charitable companies, unlimited companies and sole trader (businessmen).

BVI Corporate Bank Accounts

Coddan is able to assist you in opening a corporate bank account in the British Virgin Islands, though a BVI company is generally able to open such an account anywhere in the world. Note that banks will require a copy of the corporate documents issued by the BVI Companies Registry before they can process your application. Purchase of a pre-incorporated shelf company can expedite this process and enable us to open your corporate bank account in less time.

Requirements for opening a corporate bank account in the BVI include:

• Bank account application form will be completed by Coddan and forwarded to you for execution. Please note that information on the company's business activities, the expected source of funds and the likely frequency and amounts of deposits will be required by the bank. If necessary, supporting documentary evidence will be required. The details of all Shareholders, Directors, Authorized Signatories and Beneficial Owners will also be required by the bank.
• All corporate paper work will be supplied to the bank by Coddan. We may request certain documents from you that are not on their records, such as licenses and agreements.
• A legible, notarized or bank certified copy of a passport and driver's license. Photo Identification will be required by the bank for each Shareholder, Directors, Authorized Signatories and Beneficial Owners.
• Original bank references (or statements of good standing) for each signatory to the corporate account and for all Shareholders, Directors, Authorized Signatories and Beneficial Owners. References to personal accounts are acceptable, and all accounts must have been in good standing for at least two years. Such bank references must be on letterhead, addressed to the BVI Bank where the account will be opened.
• Acceptable proof of address is required for each Shareholder, Director, Authorized Signatory and Beneficial Owner for whom references are provided.
• Copy of most recent audited accounts for the company, if not newly established.

Offshore Banking

The banks, for which we are an official agent or representative, offer a full range of offshore online banking services, all of them with offshore internet banking and debit cards which will allow you to have quick and easy access to your funds almost anywhere in the world. We regularly review the best offshore banking opportunities for business or investment purposes in the market place and recommend those which we believe to be best suited to meet your identified needs.

Coddan offers offshore bank accounts from British Virgin Islands, Cyprus, Dominica, St.Vincent, etc., which are four nations in the Caribbean. We also represent a well established Cyprus bank, a major UK bank in Isle of Man. All of these banks compliment the offshore jurisdictions which we recommend for your offshore company incorporation and company trading account, business account or investment account. They all meet the very high standards of confidentiality and security, which are fundamental elements in choosing your offshore location.

Internet banking is a fast, free and convenient way of keeping in touch with your account 24 hours a day, 7 days a week.

Banking online is the convenient way to:

• Check your balances and transactions
• Pay bills like credit cards and utility bills
• Transfer money between your accounts or into someone else's bank account
• Set up, change or cancel standing orders and view or cancel Direct Debits

A good business account will make financial management easier, can ease cash flow for your company, and will enable you to enjoy support from financial experts. Coddan is able to offer VISA debit card and credit card facilities through Major International Banks without Credit Checks or Bank References.

Banking Services in the BVI

BVI Bank Account: In order for us to open a bank account for the company or partnership we will need the following items:

• Drivers License and Passport, with photo also please list address of record.
• Utility Bills issued within the last three months with the applicant’s current address.
• Business card with name and title of principal signer.
• Detailed description of business type - nature of business.
• List location of primary trading area.
• Signed local bank reference letter from Officer of your current bank - translated in English.
• Local professional reference letter from your Accountant - translated in English.
• Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
• You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.

Order BVI Corporate bank Account: BVI Corporate Bank Account - £400.00

Please contact us for more information. If you have any queries, please call us during business hours and speak to one of our highly trained incorporation specialists. You can call us by phone 800-081-1510 or + 44 (0) 207.935.5171, or make an initial consultation request.