We can now offer two options:

1. Bank in Cyprus

This Cyprus based bank has a good reputation and can offer full banking services, including internet banking. It is relateively quick to issue account details in order to receive funds. The account will not be fully functional until all due diligence procedures are completed to the bank's satisfaction.

2. Bank in Seychelles

This is a subsidiary of a very large UK based multi-national bank, offering full banking services. Seychelles is not subject to the EU Savings Tax Directive. The bank has confirmed that it does not report details of interest earned on accounts maintained by UK beneficial owners to the UK Inland Revenue. The only grounds on which confidential account details can be released without the customer’s consent are if the bank receives a Seychelles Court Order under Mutual Assistance in Criminal Matters Act or otherwise at law (under the Anti-Money Laundering Act 2006).

Whilst we can assist in opening bank accounts in various offshore locations it should be borne in mind that all banks will require bank references on each signatory. The timescale for opening accounts may be anything from 10 days to many weeks and is often delayed by banks failing to respond to reference enquiries. We cannot be held responsible for any delays in this procedure as it is outside of our control.

In the main we would assist with opening an account with a bank based in Cyprus or the Seychelles (for Seychelles companies only) both of which offer internet access, currency accounts and can provide an international debit card. As well as completed application forms, this banks will require for each signatory:

• a certified passport copy
• a certified or original utility bill confirming the residential address (electricity, gas, telephone, credit card statement, tax demand, bank statement etc)
• personal reference from a lawyer, accountant or similar professional
• a basic business plan
• to take up a personal bank reference

Certification can be by a lawyer, accountant, banker or notary public and must state that the document is a true copy of the original and also show the certifier's official stamp.

NOTE: Regrettably we are only able to offer this service to those clients for which we are incorporating a company.