Open Bank Account In Cayman Islands

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Open bank account in cayman islands.

Cayman private banks are more about investment and portfolio management than normal banking. How to open a bank account in the cayman islands. Banking options for cayman islands company. They need your identification and an application.

Cayman islands bank account. Tax compliance referral and irs form w8 ben if applicable notarized copy of your passport notarized copy of a utility bill reflecting your name and home address no p o. This document must include how long you have banked with your home bank the average balance maintained and the manner in which your account has been conducted. Any bank or trust company wanting to set up an offshore banking account in the caymans first needs to incorporate either within the jurisdiction or abroad.

Opening a bank account in the cayman island does not differ much from opening an account at your local bank. The cayman islands are most well known for their services to companies and the process of opening a business account at a bank begins before ever contacting the bank. Non residents who wish to open a bank account for personal purposes apart from the one used for their registered business in the islands can talk about this matter. A cayman company doesn t necessarily open its bank account in cayman instead it can open a bank account in any places namely other offshore jurisdictions or major financial centres.

Documents required from each signor to open an offshore bank account in cayman islands. Use search terms like cayman private bank account if you want to deposit more than 300 000 or cayman bank account cayman banking cayman banks for cayman islands banks that accept less for opening accounts. The company directors can be involved in the process however one of our agents who specialize in cayman islands incorporation can handle this step as part of opening a company. A reference from your current bank addressed to the bank in the cayman islands.

Bank accounts can be opened by e mail in most cases. Many of the banks have a slew of fees such as setup fees transaction fees and account maintenance fees but there is a great deal of choice so you are free to shop around. In order to open a bank account banks will request some or all of the following information.