Offshore Bank Accounts

Formacompany can assist you in the opening of an Offshore Bank Account to accompany an incorporation. Account activation usually takes 3-4 weeks.

Banks

We have relationships with banks such as:

• FBME - Cyprus
• Barclays - Seychelles
• Rietumu - Latvia
• Choice Bank - Belize
• Scotia Bank - BVI
• Standard Chartered - Singapore
• BCP - Luxembourg
• Euro Pacific Bank - St. Vincent

Bank Account Services

Our bank account introduction service means that you need not travel in order to open the account. We will provide you with the necessary application forms and ensure that you fulfil all due diligence requirements so that you obtain your bank account as quickly as possible.

All banks offer accounts in various currencies including: Euros, British Pounds and US Dollars. You can enjoy internet banking and an array of credit card facilities from each bank.

Application For A Bank Account

There are three main parts to the application:

• Application Form from the bank - Formacompany will provide this for you
• Due Diligence documentation
• Apostilled Company Documents

Application Form

This must be completed in as much detail as possible. Blank or vague answers will result in the delay of your account activation. We are on hand to assist you with any questions that you may have regarding your bank account application and will check through your completed forms before we send them to the bank.

Due Diligence

Each bank will have its own requirements regarding due diligence, however, you must supply:

• Certified Passport / ID Card copy
• Certified recent utility bill or bank statement
• A reference from your current bank

You must send identity verification documents for all of those whose details are part of this application such as shareholder, directors and beneficial owners.

Apostilled Company Documents

You will receive full company statutes upon your incorporation. We are happy to arrange for your company documents to be apostilled by the relevant registry in order to be suitable for a bank account.

Professionals accepted to certify Due Diligence documents:

• UK Lawyer
• Banker
• Authorised Financial Intermediary
• Regulated Mortgage Broker
• Accountant
• Teacher
• Doctor
• Minister of Religion
• Postmaster - certified by an Embassy, Consulate or High Commission of the country of issue

Offshore Bank Account Verification

Formacompany & Co Ltd has a statutory obligation to take steps to confirm the identity and verify the permanent address of each client. Under Section 5 of the Criminal Justice Act 1993 these should be steps that a court of law would deem reasonable.