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.
Samoa, officially the Independent State of Samoa, also known as Western Samoa, locates at the western part of the Samoan Islands in the center of South Pacific Ocean.
Generally speaking, Samoa banking sector is small and concentrated. Offshore banking industry accounts for less than 10% of the total assets of the domestic banking system. As of Mar 2019, there are only 2 locally incorporated international banks, which are subsidiaries of Australian banks and 2 local banks.
The Central Bank of Samoa takes the roles of regulating, licensing and monitoring the financial system. Particularly, Samoa International Financial Authority is mandated for overseeing international banking sector under the same name Act.
There is no foreign exchange control for transferring funds in any currencies out of Samoa through its banking sector.
Samoa legislative framework for the banking supervision based on prudential statements is underdeveloped and still misalign with the current international standard. Alternatively, we can help you open your Samoa company bank account in other offshore financial centers with a sound baking system or Asia financial hub, namely Singapore.
|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|
The list below presents general documents needed to open your Samoa company bank account. Other documents might be required by banks depending on your case, so you should contact BBCIncorp to know more details.
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.