Offshore Bank in Saint Lucia – the best solution for starting your bank

You have been dreaming about your own bank for a long time, but do not know where to…

You have been dreaming about your own bank for a long time, but do not know where to start?With SBSB, banking is easy.

Starting your bank – begin from the simple

Registration and obtaining a license to perform banking activities in the EU is not an easy task, which requires at least a year, sometimes more. The minimal budget for establishing a bank in Europe is about 10,000,000 euros.

Optimal introduction into the sphere of banking begins with the registration of an offshore bank. Saint Lucia is a very convenient jurisdiction for establishing your offshore bank. An offshore bank in Saint Lucia will become the basis for gaining valuable experience and building a knowledge base and connections for the further establishing of a European bank and banking activities in the EU.

Why is exactly Saint Lucia suitable for registering your bank?

Saint Lucia is a classic tax-free offshore. Establishing an offshore bank in Saint Lucia is a relatively simple and less bureaucratic procedure in contrast to registering banks in the EU, the USA and other regions. In addition, registration of an offshore bank in Saint Lucia is a fairly low-cost bank registration.

What do you need to know for establishing an offshore bank in Saint Lucia?

Establishing an offshore bank in Saint Lucia is done in 2 stages:

  1. Register an offshore company in Saint Lucia for the bank.
  2. Obtain the appropriate banking license of Saint Lucia.

For the first stage, which is a registration of a company for a bank, it is necessary to submit a package of documents, including an application form containing information about the name, contact details, field of activity of the future company and its key participants; documents of a shareholder, director and beneficiary of a registered company in Saint Lucia.

For the second stage, which involves obtaining a banking license, you must submit an application form, select a bank class, indicate the source of origin of the share capital, statutory declaration, business plan for a period of at least three years and other documents for obtaining a Saint Lucia banking license that a team of SBSB professionals will help you to prepare.

After receiving the banking license of Saint Lucia, you must submit a confirmation of the authorized capital, as well as a security deposit in the amount of 100,000 US dollars.

Obtaining an offshore banking license takes an average of 6 months.

Requirements for Bank Registration in Saint Lucia

To establish an offshore bank in Saint Lucia, you must have at least 2 directors – individuals, among whom at least one director must be a resident of Saint Lucia. The appointment of a secretary for the offshore bank of Saint Lucia is optional.

The appointment of an auditor (possibly a non-resident of Saint Lucia) and a representative on the territory of Saint Lucia is mandatory.

Maintaining an offshore bank in Saint Lucia

Each licensed offshore bank in Saint Lucia must keep accounting books and banking records in the main office in Saint Lucia.
Also, all operating offshore banks in Saint Lucia must regularly submit various reports in accordance with local legislation, including an annual audit prepared by an approved auditor.

Costs of establishing an offshore bank in Saint Lucia

To obtain a banking license, you must make a deposit to an open bank account (not in Saint Lucia) in the amount of 100,000 US dollars, as well as the minimum paid-up capital in the amount of 250,000-2,200,000 US dollars, depending on the class of the license.

In addition, legal services are paid for the preparation of all documents and support of obtaining a banking license.

Another alternative to obtaining a banking license in the EU is to obtain a license for electronic money in Europe (EMI license). For detailed advice, contact our experts.

The SBSB team of lawyers is always ready to help you in starting a bank. For over six years, we have been advising our clients in the areas of corporate law, international tax planning, finances, international licensing and comprehensive business support in more than 40 countries.

We will be happy to help you.

Similar Posts