Open a Bank Account in the Cayman Islands

A short video presented by our Cayman Islands company formation agents on how to open a bank account for corporate purposes. For more details, you can contact us at: https://www.caymancompanyincorporatio...
________________________________________________________________________
1 Open a Bank Account in the Cayman Islands
A presentation brough to you by CaymanIncorporation.com
2 Banking options
Investors who open an offshore company in the Cayman Islands can, at the same time, opt for opening a bank account in this jurisdiction.
The process is a straightforward one, although there are a number of requirements.
3 Options for foreigners
Opening a bank account in the Cayman Islands is generally a fast process and foreign investors may not be required to be physically present in the Islands for the duration of the process, although this may not be possible with all banks.
4 Offshore company bank account
There is no mandatory requirement for the offshore company in the Cayman Islands to have a bank account in the same jurisdiction.
Nevertheless, many foreign entrepreneurs choose to open a bank account given the favorable regime in the Islands.
5 Choose the bank
Investors have several options when choosing the right bank with which to open a corporate or a personal account.
The choice can be based on a number of factors, including whether or not they are familiar with the chosen bank branch.
6 Bank requirements
All banks adhere to regulations regarding account opening both for natural and legal persons. This means that due-diligence is mandatory and the applicant will need to provide the company documents if he has chosen to open an offshore company in the Cayman Islands.
7 Prepare the documents
The needed documents can differ from one bank to another, however, these will include proof of incorporation for the offshore company (in case of corporate accounts) as well as mandatory account holder or representative personal identification documents.
8 Special requirements
In some cases, investors who open an offshore company in the Cayman Islands will require special banking services. These can refer to offshore asset protection. The details are discussed when setting up the account, as per the client's needs.
9 Cayman Islands company formation
The Cayman Islands offer favorable conditions for offshore company formation as well as offshore banking.
The local rules allow for low bank account maintenance costs and those interested have access to numerous financial services as well as banking anonymity (subject to certain conditions).
10 Thank you for watching!
For more information, contact us at:
www.caymancompanyincorporation.com
[email protected]