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Bank account in St. Vincent and the Grenadines

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Saint Vincent and the Grenadines is a perfect offshore jurisdiction to open a bank account to invest in the stock market and carry out currency exchange activities.

Reference: CB02100VC


Open an offshore bank account in Saint Vincent and the Grenadines

Saint Vincent and the Grenadines is a reliable and economical option to open a bank account in offshore. The banks of this jurisdiction are solvent and most of them count in their shareholding with banks registered in the European Union. Saint Vincent and the Grenadines offers a very complete range of banking services: foreign currency investment programs, stock exchange accounts and savings accounts. The customer service is offered in different languages: Spanish, English, German, Russian, French and Chinese.

Saint Vincent and the Grenadines is one of the most important financial centers of the Caribbean due to the favorable conditions for constitution of offshore companies and bank accounts opening for technological businesses. In other jurisdictions such as Switzerland, Luxembourg and Liechtenstein, there are some businesses whose commercial activities don’t fit into the portfolio of its banks representing a high risk for them. Therefore Saint Vincent and the Grenadines is an ideal place to open the bank account for all types of legal business, both for individuals and legal entities.

The banking system of Saint Vincent and the Grenadines has very strict regulations and modern legislation. It also has an optimum level in telecommunications, as well as favorable political environment, considered to be one of the most consolidated in the Caribbean.

Banking secrecy and automatic exchange of financial account information 

By now Saint Vincent and the Grenadines has signed 40 bilateral agreements of automatic exchange of financial account information. Saint Vincent and the Grenadines together with other countries is committed to eliminate bank secrecy for individuals and companies that hold non-resident bank accounts in the banks of all participating countries. What does this mean? On 29th of October 2014, in Berlin an agreement was signed with the purpose to exchange automatically the information on bank accounts opened by non-residents in other countries. By now the automatic exchange of information agreement has been signed by more than 100 countries (the countries that have signed information exchange agreement), however it doesn´t mean that the bank account information will be exchanged between all of them. That is, if two countries do not show a mutual interest in sharing banking information of their citizens between them and therefore do not sign a bilateral agreement, the OECD cannot force them to proceed with the joint exchange of information. For example, Saint Vincent and the Grenadines has signed the automatic exchange of information agreement but will not exchange financial account information with all other participants and will only do so with the countries with which it has signed an additional bilateral agreement. Currently Saint Vincent and the Grenadines has signed this agreement with 40 countries. You can see the updated information following this link (bilateral automatic information agreements).

The bilateral agreements signed by Saint Vincent and the Grenadines will affect the citizens of 40 jurisdictions, in particular those who hold non-resident bank accounts, eliminating completely the idea of financial secrecy and anonymity. The banking confidentiality of the rest of the countries that have not signed the bilateral agreement with Saint Vincent and the Grenadines will not be affected, that is, the foreign banks will never report their financial information to the tax authorities of their resident country. The new regulations for the exchange of information have created many problems for and between some of the countries. The intention of European Commonwealth countries such as Germany, Spain, France, Italy and the United Kingdom was that all countries signed bilateral agreements with each other, but after all things did not go that way. In a real world it is hard to imagine Israel signing a bilateral agreement for the automatic exchange of financial information with Lebanon, Saudi Arabia, Indonesia or the Arab Emirates. Due to the "non-fiscal conflicts" that exist between these countries it makes it very difficult or even impossible for them to work together on elimination of banking secrecy.

Bilateral agreements with Saint Vincent and the Grenadines

Year 2017Argentina, Australia, Belgium, Brazil, Bulgaria, Colombia, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland, Guernsey, Hungary, Iceland, India, Ireland, Isle of Man, Italy, Japan, Jersey, Korea, Latvia, Liechtenstein, Luxembourg, Malta, Mauritius, Mexico, Holland, Norway, Portugal, Slovenia, South Africa, Spain, Sweden, Uruguay.
Year 2018No bilateral agreement has been signed in 2018.

It is completely legal to open an offshore bank account in Saint Vincent and the Grenadines. An individual or a company that wants to develop an international business or simply to move its money offshore in order to achieve more security will not be committing any crime. If a physical person is a citizen of a country that has signed a bilateral agreement with Saint Vincent and the Grenadines, it is advisable for him/her to inform his/her tax authorities about the intentions to open a non-resident account in Saint Vincent and the Grenadines, and then through double taxation agreements deduct the income taxes in his country of residence. If, on the other hand, the bank account has been opened by a resident company (registered in Saint Vincent and the Grenadines) or non-resident company (for example, registered in Belize) the beneficial owner will not be obliged to repatriate the dividends of the company annually and therefore will be able to keep all the generated earnings on his offshore bank account in Saint Vincent and the Grenadines without paying income taxes. The owner of the company will have to pay the income taxes only when he transfers the money to his country of residence but in case if he wants to keep it on the account for further business investments or just as a security deposit legally the generated profits will still belong to the company and the beneficial owner doesn’t have to pay tax on this amounts. With time the company might go through the international expansion requiring corresponding expenses. Consequently, the dividends would decrease and logically the income taxes that the beneficial owner will have to pay in his country of residence would decrease correlatively.

Advantages of opening a bank account in Saint Vincent and the Grenadines

The main advantages of opening a bank account in Saint Vincent and the Grenadines are the following:

  • Opening an offshore bank account Saint Vincent and the Grenadines is legal.
  • Bank secrecy and anonymity are guaranteed for the citizens of those countries that did not sign a bilateral agreement with Saint Vincent and the Grenadines.
  • The possibility to open business and personal offshore bank account in Saint Vincent and the Grenadines remotely.
  • High expertise level, online banking platforms with the possibility to request any type of financial service: foreign currency accounts, credit cards, letters of credit, accounts to invest in the stock market, payment gateways, credits.
  • Professional financial advises for great fortune owners.
  • Low maintenance rates. 
  • Banks in Saint Vincent and the Grenadines are extremely regulated. 
  • Once the requirements are fulfilled it takes 10 to 14 days to open the account.

Bank commissions in St. Vincent

Approximate bank commissions and minimum deposit
Maintenance of bank account
250 Euros/year
Wire Transfer IBAN/SEPA
55 Euros
Wire Transfer SWIFT
55 Euros
Debit or Credit card
60 Euros/card
Customer support in following languages
English, Italian, French, German, Russian, Spanish, German
Minimum deposit
250 Euros

*The customer can open a bank account in any international legal currency they want, (Euro, Dollar, Canadian Dollar, Australian Dollar, British Pound, Japanese Yen, Swiss Franc etc)

*All the management at the opening of bank account do not need a physical presence in the country, all efforts will be made through e-mail and / or registered mail.

    in St. Vincent and the Grenadines
    with or without physical presence
    with online banking 24/7 included
    in the name of the individual or company
    in English, French, Chinese, German, Russian and Spanish
    to any part of the world
    certified by a notary
    certified by a notary
    electricity, water, gas, telephone or bank statement
    in English
    Articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago "Certificate of good standing"
Daniel Varzari
Opening a business account for a crypto-related business.

Dear Daniel, 

Thank you for contacting our company. 

Please, specify the nature of your business and also provide the following information contacting us via e-mail

1. Nationality of shareholders. 

2. Estimated monthly volume of transactions. 

3. Average ticket value. 

4. Countries of incoming and outgoing payments. 

5. Country of company registration

Waiting for your e-mail, regards

Josephine D
I am interested to open a corporate bank account for our SVG company. May I know what are the inclusions of the $1050? What bank are we getting? How are we going to make a withdrawal / wire transfer our money using this St. Vincent and the Grenadine’s bank account? Is there any bank commissions for every deposit being made under our bank account? Are there any charges we need to know? Thanks.

Dear Josephine, The cost of bank account opening includes: The fees set by the bank for online bank account opening. Contacting the banks and choosing the best one to fulfill the needs of your company. Verification of all the documents and forms that will be sent to the bank. Control over the process until you receive the documents and debit card for payments and withdrawals. 

Regarding the use of the account, you will be able to withdraw your funds in any ATM around the world and also pay at any merchant, online or traditional. Also there are no additional commissions for depositing your funds though incoming wire transfer. 

I hope I could answer all your questions, in case you have any other doubts please contact us via email or Skype (information displayed on main page). Kind regards


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