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.
Jersey is neither part of the UK nor British oversea territory, but rather a self-governing dependency of the Crown. International financial services play a major part in contributing to Jersey total GDP.
Jersey Financial Services Commission (JFSC) is the main regulatory body responsible for regulating and supervising the development of its financial service industry including the banking sector.
The jurisdiction has adopted Basel II standard for its banking system since 2008. Very strict bank licensing conditions including top 1,000 worldwide banks in terms of Tier 1 capital size express a conservative attitude toward screening banks qualified for operation in Jersey. As of June 2019, Jersey banking sector is comprised of 25 licensed banks. Most of them are branches and subsidiaries of a half of the top 25 banks in the world such as Citibank, BNP Paribas, Deutsche Bank, HSBC…
A Jersey company literally can open its bank account in any jurisdictions.
|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|
Different banks might require a distinct set of documents to open your Jersey company bank account. The basic documents requested by most banks are listed below:
You had better contact BBCIncorp to know the exact documents needed 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.