Open a corporate multi-currency account with a bank located in Dominica, having strong ties with Europe. Do not miss the opportunity to get this procedure carried out remotely. You will be able to work with both fiat currencies and cryptocurrencies.
Having successfully passed the bank verification, your company will immediately be assigned an account in two currencies, USD and EUR.
The bank is known for their fast-track AML/KYC procedures that are possible thanks to their own compliance department located in Europe.
The bank is ready to work with the companies of various industries and businesses, including those that are usually considered high-risk segments. The decision to open an account is only made after considering the full profile of the company and the documents provided.
Benefits of the Corporate Account Abroad
The first quarter of 2020 clearly demonstrated how foreign banks can save their clients from financial losses or bankruptcy. Many currencies have lost their previous value. This has already happened several times in the last 20 years.
And this is one of the biggest risks for your money, the value loss of the currency.
Protection of assets from political and financial instability is particularly relevant for medium-sized and large businesses. Having opened a foreign corporate account, the entrepreneur will ensure legal protection of the company from its competitors, unexpected blocking and other drastic actions of the government and local regulators.
Yet another factor is the company expansion to the international level. It is more convenient and economical to conduct transactions and other financial operations with a foreign partner via a foreign bank.
Bureaucratic obstacles will be avoided then, and the operations will be carried out faster.
A foreign corporate account with the proposed bank also will allow you to work with cryptocurrencies, and withdrawal of funds to the exchanges and back becomes easier and more advantageous.
Services of the Bank in Dominica
The choice of banking services is ample. Current realities require that the bank is absolutely financially liable, and the client manages their private funds in a flexible way. Therefore, the bank’s executives have set such favorable terms for the clients, and do everything possible not to lose the money deposited.
Despite the fact that the bank is located in Dominica (Commonwealth of Dominica) and operates on the basis of their local rules and regulations, it is an international group of companies. It has its own subsidiaries and partners in Switzerland, Luxembourg and Estonia.
The group of companies offers you an opportunity to open corporate accounts; set up electronic wallets (EMI UK and Luxembourg licenses; licenses for Malta and Hong Kong are underway). The group provides private capital management and interacts with the cryptocurrency exchanges trading aggregator.
The bank has an extensive list of correspondent accounts including Canada, Portugal, Great Britain, Lithuania, etc.
The Bank’s Key Services for Corporate Clients
The bank offers you to open a classic multi-currency bank account with IBAN. The procedure can be carried out remotely, you will need to send the scans of your documents. Thanks to the bank’s compliance department, the verification procedure is as quick as possible. This department is located at the bank’s headquarters in Vienna.
The verification procedure takes place via digital banking systems that have the ability to verify dozens of thousands of people a day.
You can open an account in euros or in U.S. dollars. Your funds are managed via the Internet. Money transfers are made via the SWIFT and SEPA systems. At any time, you will be able to view the reporting on your transactions and balances.
Payment Cards for Corporate Clients
The bank issues Visa and MasterCard debit cards. These cards can be both virtual and physical. You can use these cards to safely pay online. Physical cards will allow you to withdraw cash from ATMs around the world.
The peculiarity of this bank is that no monthly or annual fee is charged for the use of the cards.
It is also possible to order additional bank cards with a separate account.
You do not need to pass any extra checks or deposit a minimum balance when ordering a card.
You can also connect the card of the cryptocurrency exchanges aggregator to your account. Having ordered the issue of the card, you will be able to exchange currencies at a favorable rate: electronic currencies into fiat ones and vice versa. Using this instrument, you can bring crypto-assets into the real world, for example, buying goods or other items when shopping.
Integration with the Cryptocurrency Exchange Trading Aggregator
With the help of this instrument, you will get privileged access to the platform that facilitates cryptocurrency trading. It scans more than 3 dozen liquid exchanges allowing you to exchange your cryptocurrency at the best rate.
In addition, you will be able to carry out large-scale transactions.
The cryptocurrency exchange aggregator card can be used to pay for any goods and services around the world.
Internet Banking and Mobile Applications
The bank in Dominica is a modern bank that allows you to manage your account remotely via an Internet banking system.
Mobile apps for iOS and Android will also be available to you.
In a mobile app, you can rank account-linked bank cards according to where they are to be used. The app is integrated with the loyalty programs of various retail chains. It is possible to make contactless payments using the app.
Private Banking
Should you decide to open a private account, you may need Private Banking. The bank’s specialists have many years of experience and quality training.
Thanks to the privileged access, you will be able to purchase more complex and efficient financial products, as well as to work with a personal manager.
Corporate Account for High-Risk Businesses
The peculiarity of the bank in Dominica is that they are ready to work with diverse clients, including those running high-risk businesses. It is even possible to say that large and high-risk businesses will feel the most comfortable with this bank.
First of all, due to the developed structure of related international companies and a vast experience, the bank employees are ready to consider a wide range of clients. The main limitation is the countries under sanctions: Iran, North Korea and the like.
As for the rest, including company owners from Russia, Ukraine, Belarus and other countries of Eastern Europe, they will have no issues with opening an account.
What types of businesses are welcomed by the bank in Dominica? FinTech, crypto, e-money, forex, gaming, gambling, MLM, health-related and others.
In general, the bank works with any kind of business, but for regular and small-sized businesses (with a turnover of less than 50,000 dollars per month) the commissions will be higher.
Papers that are Necessary to Open an Account
Thorough and careful preparation of your documents is key for the successful account opening. You will need the following:
- Notarized copies of travel documents for all owners, directors or managers;
- Proof of residence for the above-mentioned persons (utility bills no older than 3 months);
- Notarized copy of the Articles of Association;
- Notarized copy of the Company Register;
- Notarized copy of the company’s Certificate of Incorporation;
- Notarized copy of the Share Register;
- The list of managing directors and representatives of the company;
- Notarized copy of the Company’s Certificate of Incumbency or Certificate of Good Standing;
- VAT Registration Certificate (if any);
- The original reference letter to the bank;
- A reference letter from a lawyer or an auditor (with signature and stamp);
- CV of the company’s owner (beneficiary);
- Detailed description of the company’s activities: what it does, approximate revenues for the last year and other information.
The bank reserves the right to request additional documents if necessary. It should also be taken into account that all documents must be provided in English or Spanish. If the text of the documents is different from these languages, it will be necessary to provide a certified translation of the document with notarization.
Costs for Opening an Account
The service of getting your papers approved and facilitating the opening of your corporate account costs from 3999 EUR. We will check your documents, apply to the bank, get the bank’s approval and provide you with continuous support until your account is opened.
Commissions of the bank:
| For European Companies (EU) | For non-European Companies (non-EU) | |
| For reviewing the documents and opening an account | 2500 EUR; | |
| Account crediting, EU company | 1% (min 3 EUR) | 1.5% (min 3 EUR) |
| SEPA interbank transfers | 0.75% (min 6 EUR) | 1.25% (min 10 EUR) |
| SWIFT interbank transfers | 2% (min 40 EUR) | |
| Intrabank transfer | 0.5% (min 1 EUR) | |
| Over-the-Counter Deals | 3% of the deal amount |
The full price list is available upon request. Specific rates are calculated and provided depending on the volume of operations and their frequency.
Procedure: How Do I Open a Corporate Account with the bank in Dominica?
- Please write to info@offshore-pro.info and order a remote corporate account opening service.
- We will kindly ask you to answer your consultant’s questions so that we could assess the feasibility of the service delivery.
- After that please pay for an account opening service, from 3999 EUR.
- Please provide a complete set of your documents (scan copies).
- After that, we will start the procedure of opening your account. As soon as the bank verifies your documents and confirms that everything is fine, you will get access to your account.
Do not put it off, write to us and discover new business opportunities while the world’s economy is in recession: info@offshore-pro.info.
