From A to Z: Belize international business company (IBC)
This article will cast light upon Belize IBCs - which is the most prevalent type of offshore corporation and its key features that you should know.
Anguilla is a member of Organization of Eastern Caribbean States (OECS) comprised of eight jurisdictions including Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines.
Anguilla monetary authority is the Central Bank of Eastern Caribbean (ECCB) governing banking activities. The country has its own local currency: Eastern Caribbean dollar (XCD) fixed at 2.7 XCD to 1 USD. The Financial sector is also monitored by Financial Service Commission (FSC) regarding licensing and oversight of financial service industry. Anguilla financial system includes domestic banks, insurance companies, money services, mutual funds…
The country’s banking sector currently consists of 3 domestic banks: Scotiabank Anguilla Limited, National Commercial Bank of Anguilla Limited, FirstCaribbean International Bank (Barbados) Limited which are licensed under Banking Act, 2015. Offshore banking licenses are granted under the Trust Company and offshore banking Act (TCOBA).
We currently do not support opening bank accounts in Anguilla. However, an Anguilla company can open its account in most offshore banks. We can also open your Anguilla company bank account in Singapore, but it requires you to visit the branch.
|Country||Bank||Online Banking||Personal Visit||Credit Card||Debit Card||Intial Deposit|
|Belize||Caye International Bank Ltd.||USD 1,000|
|Heritage Bank||USD 3,000|
|British Virgin Island||First Caribbean International Bank||USD 25,000|
|Mauritius||ABC Banking Corporation||USD 5,000|
|Bank One Limited||USD 10,000|
|Mauritius Commercial Bank||USD 50,000|
|Investec Bank||USD 50,000|
|Puerto Rico||Euro Pacific Bank||USD 500|
|Singapore||Citi Bank||USD 300,000|
|OCBC Bank||USD 30,000|
|UAE||RAK Bank||USD 10,000|
Banks might demand additionally supportive documents beyond the listed bellows to open your Anguilla corporate bank account depending on each local regulation, your business fields and on case-by-case basis.
Please contact us to know the exactly essential documents for your case.
Final Rules of BVI Economic Substance Released
For those who are BVI legal entities, it should be noted that amendments have been made on The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) which was enacted in the British Virgin Islands on 31 December 2018 and came into effect on 1 January 2019.