The Bahamas known officially as the Commonwealth of The Bahamas is a small country spread across 700 islands, of which the largest are the islands of Nassau – home to the capital and Freeport (Grand Bahama). This offshore jurisdiction does not tax wealth, inheritance, or income.
Banking laws and regulations in The Bahamas are quite strict and stringent, especially with regard to banking secrecy and privacy of clients. Therefore, the country is often compared to Switzerland, which is also famous for its high standards of confidentiality. But this does not mean that banks can open accounts for wrongdoers who are involved in illegal transactions. Banks are required to disclose client information in case of a criminal investigation. The government follows modern international standards and today is preparing new laws to enhance fight against money laundering, corruption, and tax evasion. These new laws will regulate and advance financial reporting and transactions, corporate service providers, and financial intelligence activities.
Most banks in The Bahamas are very cautious when it comes to opening accounts with new clients, as they try to avoid possible risks. Deltec Bank, where we offer to help you open a corporate bank account remotely, is considered one of the most reputable banks in The Bahamas. If your company is planning or already engaged in international activities, and the offshore corporate account will help optimize your foreign tax payments. The online option of opening an account does not require the applicant to meet the bank representative in person face-to-face, let alone come to The Bahamas. Our consultants will be able to provide you with qualified assistance in compiling the necessary portfolio of documents for opening an account of your company remotely and will answer all your questions. Having accumulated our extensive experience in opening foreign accounts, we will perform your registration procedures within the shortest possible time (with the maximum term of three weeks).
Deltec Bank’s services and solutions in The Bahamas
The Bahamas is well-positioned to conduct international investment and business operations in the Americas. The Bahamas has been providing international financial services to individuals and corporations for more than 80 years, generating up to 36% of the country’s GDP through banking. If we consider the world’s top 100 banking institutions, 1/3 of these banks are located in The Bahamas, which, in their turn, enjoy access to global financial markets.
In 1959, Deltec Bank was founded in The Bahamas by a number of American and European banking institutions. For several decades Deltec has operated in the field of wealth planning and structuring, offering advanced solutions and extended investment opportunities, implementing innovative development projects. Later, Deltec Bank joined Deltec Bank & Trust Limited group and became one of the largest investment banks in The Bahamas. Deltec Bank & Trust Limited also belongs to the Atlas Capital Group Holding SA in the capacity of its subsidiary. Deltec Bank & Trust Limited Group is represented by a highly qualified team of investment analysts, economists, managers, and traders who develop the best solutions in the global investment markets.
Corporate current bank account with Deltec Bank in The Bahamas
The minimum initial deposit amount for international corporate clients is USD 1 million. This amount is considered to be the acceptable minimum balance to be maintained on the account.
In addition to the deposit accounts in all major currencies, corporate clients can open other types of accounts with Deltec Bank:
– Trading account
– Brokerage account
– Investment account
The services included Custody of assets, Lombard lending, Credit card, and payment solutions, Concierge services, e-banking, mobile banking.
Some wealthy clients can receive private multifamily and multigenerational wealth management services, estate planning and trust structures.
Wealth planning and structuring of Deltec Bank in The Bahamas
When working with its corporate clients, Deltec Bank takes into account not only the wishes and objectives of the company but also the specifics of its activities. The most optimal solutions are hand-picked and developed to meet the client’s interests and tax environment, taking into account current requirements and tax changes. The Bank is building a transparent and trustworthy policy of relations with its clients, with the prospects of long-term partnership relations.
Fiduciary and corporate services of Deltec Bank in The Bahamas
Fiduciary services of Deltec Bank in The Bahamas
To handle corporate solutions for complex financial transactions in various foreign jurisdictions, Deltec Bank specialists offer fiduciary services that can ensure anonymity to the beneficiary in transactions. Fiduciary services also include:
- Maintaining a corporate account and settlement of current payments.
- Buying or trading in securities, with the highest possible return, and with the greatest degree of risk tolerance.
- Preparing a tax return based on monthly reports throughout the year.
- Collection of income, in the interest of the client at interest rates and dividend payments.
Corporate services of Deltec Bank in The Bahamas
Deltec clients can enhance the protection of their assets and diversify risks by using corporate banking services, taking into account particular requirements and specialization. The bank utilizes AI and predictive analytics to track consumer behavior, to identify irregular behavior that could be indicative of fraud, to notify customers immediately in case of some risks detected. The corporate services include setting up, structuring and management of funds, creation of companies in multiple jurisdictions, outsourcing or hiring of directors and officers, arrangements for a registered office, etc.
Deltec bank offers its corporate clients the comprehensive fund structuring, setup, and administration services through Deltec Fund Services Limited. This Fund is a licensed Unrestricted Investment Fund Administrator that is regulated by The Securities Commission of The Bahamas. The scope of Deltec Fund Services Limited helps corporate clients in setting up the so-called Smart Funds to avoid bureaucratic red tape and various unnecessary risks in the investment process. In a short period of time, a Smart fund can be managed by means of a comprehensive fund administration solution (accounting, investor relations, and corporate services, and can also entail banking, financing, trade execution and custody). In case of a shortage of financial resources during the implementation of an investment project, the fund can raise foreign financial capital from investors participating in investments on the international market. Deltec capital raising strategies have helped many brilliant projects and entities grow.
The Fund takes over to manage, safeguard, and enhance the company assets including the following objectives:
Asset management services of Deltec Bank in The Bahamas
- To calculate the net asset value per share
- To conduct regular financial reports supported by reliable and modern technology
- To carry out an independent assessment of all assets to build an effective investment portfolio
- To advertise the company’s shares by publishing them on such platforms as Bloomberg, FT, Morning Star, and others.
Investment management and consulting by Deltec Bank in The Bahamas
- To launch a client investment fund and develop the investment strategy
- To provide professional consultants to develop an investment plan
- To support and oversee implementation of plans for the established investment portfolio of the Fund
Deltec Bank’s Services to Shareholders in The Bahamas
- To set up and maintain a register of shareholders according to the Know Your Client banking principle.
- To support communication with all investors and to design reports
- To perform financial transactions (donation, transfer, and repayment of debt)
Banking, brokerage and savings services of Deltec Bank in the Bahamas
- To perform Cash Management, Foreign Exchange and Funds Hedging
- To conduct Cash operations through escrow accounts and opening deposits by authorized persons
- To maintain assets, on-line accounts, and detailed reporting on transactions
- To conduct transactions with all types of assets with a high degree of competitiveness
Corporate, legal and legal services of Deltec Bank in the Bahamas
- To manage the company, including the General Meetings of Shareholders
- To endorse the submitted legal documents and necessary payments
- To monitor and enforce compliance with the anti-money laundering requirements
Procedure for remote opening of a corporate bank account with Deltec Bank in the Bahamas
1. The first and main step is your decision to become the owner of a corporate account with Deltec Bank in the Bahamas. You should contact us via e-mail адресу:firstname.lastname@example.org for professional advice on opening a bank account.
2. According to the service agreement, you need to pay for expert services of opening a corporate account with Deltec Bank in the Bahamas, which you may pay by card, through Pay Pal, Western Union, WebMoney, or bank transaction.
3. As soon as the fee is received, we undertake the necessary activities to compile the portfolio of the required information to be submitted for opening your account.
Please be sure you know that the minimum deposit when opening a corporate current account is USD 1 Million, the holder of a private current account needs to comply with the minimum balance of USD 1 Million.
Documents to be submitted by account holders, as well as signatories and authorized persons, include:
- Filled out, printed and signed copies of the bank application forms
- Notarized copy of the ID or passport (with a photo and signature).
- Notarized copy of the second ID with a photo;
- Notarized copy of the utility bill or original bank account statement to confirm the residential address.
Note: This document must be less than 2 months old by the time the registration package is submitted and must be translated into English and notarized.
Documents to be submitted by the company include:
– Notarized copy of the Certificate of Incorporation;
– A notarized copy of the Charter and Articles of Association of the company;
– Notarized copy of the Register of Directors and Officers of the company;
– Notarized copy of the Certificate of Good Standing if the company was incorporated more than six months ago;
– A notarized copy of the Protocol of the General Meeting of the Directors of the company, with permission to open a corporate account with Deltec Bank in The Bahamas and a list of appointed authorized signatories to the account;
– Sample signatures of the account signatories.
Note: the bank may also require other additional documents.
The deadline for opening a bank account with Deltec Bank is up to 3 weeks.
The bank may also request proof of the legal origin of your funds.
If you have any questions about opening a corporate account with Deltec Bank, The Bahamas, or if you have decided to refer to our experts’ services, please contact us by e-mail: email@example.com.