Offshore Bank Account Opening

DOCUMENTS REQUIRED TO OPEN PERSONAL BANK ACCOUNT

• Notarised/Certified Passport Copy
• Notarised/Certified Copy of Utility Bill or Bank Statement ( not older than 90 days )
• Bank Reference Letter
• Personal CV

Please Note:

• Documents that are not in English must be accompanied by a certified translation.
• Once the soft copies of documents are submitted , bank might ask to ship the original documents.

If you have any questions, please feel free to contact us or write to support@startingoffshore.com

DOCUMENTS REQUIRED TO OPEN CORPORATE BANK ACCOUNT

For Company :

• Certificate of incorporation
• Memorandum and articles of associations.
• Articles of Incorporation
• Register of Directors & Shares
• Certificate of good standing (if the company is more than 12 months old)
• Business Plan
• License ( if any applicable )

For Each Director, Shareholder & Ultimate Beneficial Owner:

• Notarised/Certified Passport Copy
• Notarised/Certified Copy of Utility Bill or Bank Statement ( not older than 90 days )
• Bank Reference Letter
• Personal CV

Please provide below, if the company has corporate shareholder :

• Certificate of incorporation
• Memorandum and articles of associations.
• Articles of Incorporation
• Register of Directors & Shares
• Certificate of good standing (if the company is more than 12 months old)

Please Note:

• Documents that are not in English must be accompanied by a certified translation.
• Once the soft copies of documents are submitted , bank might ask to ship the original documents.

If you have any questions, please feel free to contact us or write to support@startingoffshore.com

The banks we work with accepts wide range of business activities. However there are several types of businesses that are not accepted by banks.

A valid license certificate will be required if you’re conducting any licensed activity. 

Licensed activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to the public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

If you have any questions, please feel free to contact us or write to support@startingoffshore.com

PLEASE READ CAREFULLY

• Starting Offshore does not take responsibility for decision taken by the bank. The bank might change the account opening
  procedure, terms and requirements at any time.
• Our roles are largely to facilitate bank account opening process and make introduction. We do not have any control in the ways, manners and process of banking approval.
• Due to strict compliance on anti-money laundering & counter financing of terrorism laws and rules, the banks are taking longer time and requesting more documents and information before approving application.
• Our fee is billed NOT as a guarantee of bank a/c opening, but on “work performed” basis. If your first application is rejected, we will bill you the same fee for a second application. There is no refund for rejection.

• We do not advise or give information on bank charges, transfer limit, range of facilities and banking restrictions. If you wish to know more about these and how these will affect your banking relationship, you are advised to ask the banks during the time a meeting is set up for you.

• Nationals from certain countries considered or listed as “high risk” are likely to be declined. Our Compliance Officer can advise if you are national of such countries.
• The process to apply for bank a/c opening is now taking substantially longer than before, usually it is very optimistic to consider application response from bank within min of 14 business days. Please allow yourself ample time.

• It is common for all banks to request documents/information showing proof of your existing business before approving your account. Such documents can be receipts, invoices, bills, bank statements, audited account, list of counterparties, website, brochures, etc.

• It is prudent to not overstate your banking transactions, revenue or turnover. It is also prudent to keep your bank account active and to maintain sufficient balance. Inactive account or account falling below required monthly balance may be subject to review or even closure.
• Due to strict compliance on anti-money laundering & counter financing of terrorism laws and rules, the banks are taking longer time and requesting more documents and information before approving application.

If you have any questions, please feel free to contact us or write to support@startingoffshore.com