Also known as St. Vincent and the Grenadines, this Caribbean island nation is best known for producing bananas, which is perhaps why it is working to develop other industries, including tourism and offshore finance. As a result, those interested in starting offshore bank accounts will find extremely favorable terms in St. Vincent.
It's easy to open accounts through Loyal Bank, which is the oldest offshore banking institution in St. Vincent and has a sterling reputation for confidentiality and customer service. Whereas many offshore banking institutions in other jurisdictions require you to carry a minimum balance of thousands (or even hundreds of thousands) of dollars, there is no minimum to open an account with Loyal Bank and you don't have to maintain a minimum balance, providing unmatched flexibility to manage your funds as you see fit.
HFS charges a set up fee of $450 fee to open an offshore corporate, personal or offshore trust account at Loyal Bank.
Loyal Bank offers secure online banking services for free, and can act on faxed instructions that include your signature and password. You can open a variety of accounts, including personal, business, money market, or CD, and you may open these accounts using any major currency. You will be provided with a debit card upon setting up your account.
If you're looking for flexibility, security, and privacy when setting up offshore bank accounts, St. Vincent should definitely be on your radar.
Submitted by: Sam Hall of Harbor Financial Services