bank account for an BVI IBC

Discussion in 'Professional Trading' started by nq100, Oct 9, 2002.

  1. nq100


    Hi I have registered an IBC on British Virgin Island to use it as a holding for saving speculation tax.

    Now I have a problem I want to open a bank or broker account.
    I have an apostille and all the other legal documents needed to open this. I have visit over 20 banks here in europe and they all do not want to open a banc account.

    So my question is has someone an IBC too and have solved the problem or can somebody suggest a bank or broker where I can try to open a account?

    To all others take care bevor you open an offshore IBC it's not that easy then it looks like.
  2. You are probably going to have to open it in person.
  3. canuck


    If they don't want to deal with the offshore account, couldn't you just set up a corporation in your country, earn the profits, then "bill" your offshore account as a counsultant (or whatever) for all the profits, so you would have transfered the profits offshore.
  4. Open the account offshore; where it belongs ...
  5. nq100


    thanks guys.

    1st if i open the account in person I as a person have to pay the speculation tax and therefor I have not the taxsaving I have opened the firm for.

    canuck - that was also an idea but I cant bill my offshore firm and send the money to the offshore firm because I cant open a simple bank account for the offshore firm - so where should I send my money to?????. Also offshore there is no way - I have wrote to over 300 banks only 20 answered and they hade only a no for me :(

    I try to set up a bank account on BVI where the firm is registered they sad we don't take Inc with Bear Shares :(

    The other problem is that the firm has an P.O. Box as firm adress :(


    When I have set up the company all seems to be so easy ?????

  6. You are not understanding what I am saying.

    You need to fly to the BVI and appear at the bank in person to open the bank account for the IBC.

    Now the brokerage account is another matter; that depends on what you are doing with it. Is it a trading account or for passive investments?

    It took us awhile to work out a brokerage arrangement offshore that didn't have obscene fees.
  7. maglia rosa

    maglia rosa Guest

    I am considering establishing some kind of offshore investment company as well. Can I ask, what made you decide on incorporating in BVI?

    Have you considered other jurisdictions, and if, which ones, and why did you prefer BVI over them?

    My current favorite jurisdiction is St. Vincent and the Grenadines, it seems very good from the secrecy aspect, and is, as the BVI, more independent from Britain (and the EU) than the channel islands, for example.

    One bank that I found is Triton Capital Bank (, which is located on the island of St. Vincent. It has fairly good information on the website and an account application for corporate accounts. Minimum balance is US$ 5,000, and with a balance of $10,000 the monthly maintenance fee of US$20 gets waived.
    It seems like a good bank for an offshore company, I don't have any personal experience with it as of yet, though.

    I hope this helps, keep us updated on how you're progressing.
  8. nq100


    @metooxx - sorry that I don't have understand your first post right. Thanks for the suggestion. I think it will be worth the travel - nice girls there ;)

    @maglia rosa thanks for the hyperlink.
    We have used BVI because our incorporation service has suggest it.

    Moste important reason was that we only needed one director and one secretary and it was (is) cheap - yearly tax no auditing and so on.

    Personaly I have never heard about "St. Vincent and the Grenadines" but I will take a look on.

    Thank you all for your help.
  9. You may have trouble opening a brokerage account if you are incorporated or banking in St. Vincent; still on the black list.