One of the best financial institutions in the Caribbean is a bank located in Saint Lucia. We would like to offer you the opportunity of opening a corporate account with a respected international bank in Saint Lucia without having to visit the island in person.
The bank in Saint Lucia is located in an independent and economically stable island, which is the state of Saint Lucia. The jurisdiction is situated in the Caribbean Sea, and is part of the so-called Caribbean Necklace consisting of the Leeward Islands scattered across the West Indies.
The island has a colonial past, but today it is an independent state that focuses on several industries such as tourism, financial services and agriculture. Climate conditions and fertile soils allow the island nation to grow bananas, coconuts, mangoes, cocoa, citrus fruits, grapes, and sugar cane.
The bank reports to the Department of the Financial Services Regulatory Authority of Saint Lucia and the East Caribbean Central Bank. The bank has well-established correspondent relations and reliable financial and investment partners to provide investment services to the bank’s clients.
The bank of Saint Lucia is a subsidiary of ECFH (East Caribbean Financial Holding Company Limited), a publicly traded financial company listed on the Eastern Caribbean Stock Exchange, and is the leading financial group in Saint Lucia. ECFH also has a banking license.
ECFH is a product of the merger of two financial institutions, the National Commercial Bank (NCB) and Saint Lucia Development Bank (SLDB). The merger took place in 2001 and allowed the new financial institution to develop and offer its clients a wider range of banking, financial and related services and products.
The group’s shareholders are the Government of Saint Lucia, the Republic Bank Limited, and a consortium of five indigenous banks and financial institutions of the OECS, the National Insurance Corporation (Saint Lucia), while the remaining 30% is owned by more than 4,000 individual and corporate investors from all over the Caribbean region.
The bank in Saint Lucia can offer its clients the multi-language support, but the main language is English, as this language is also the main language of business communication in Saint Lucia. You can also get service in Spanish and French, Portuguese and German, if necessary.
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Financial Structuring and Individual Solutions
The bank’s business model in Saint Lucia is built on achieving the unique goals of the offshore partners and clients. The bank understands the need of international business for a reliable financial institution that can offer flexible cooperation and carry out its work not only responsibly, but also at the maximum confidentiality level.
As for the bank in Saint Lucia, you can be confident and absolutely comfortable, as the bank will take your priorities and plans seriously, achieving your international investment objectives, and doing everything required for proper structuring of your business. Professional bank staff can render you assistance in many areas:
- Money and/or loan-backed securities;
- Financial escrow services;
- International payroll services;
- Trust and property structuring as well as corporate services;
- Banking services for mutual funds;
- Management of capital;
- Confidentiality.
Clients’ Professional Status
The bank in Saint Lucia offers all of its clients the opportunity of obtaining a Preferential Professional Status for intermediaries that require banking partners to work with them.
The bank understands how important is the efficient and flexible international banking for intermediaries in today’s banking environment, which is why the bank in Saint Lucia has launched a program that easily accommodates the client portfolios from different organizations.
Here are the main features of the Preferential Professional Status:
Lean application process
The bank in Saint Lucia initiates the professional legal review of documents (the due diligence verification). It will be perfect for the trust service providers and other professionals involved in managing their clients’ organizations and financial operations. This allows to avoid repeated due diligence verification.
An organizational structure can be created
The bank and the Preferential Professional will develop certified charts for the structures that will be defining all the facilities involved in the structure.
This will allow to eliminate the need for sending proper due diligence documentation to each person participating in the structure. The Preferential Professional will agree to send in a due diligence report regarding any organization of the structure at the bank’s request.
Specially appointed representatives of the client portfolio
The bank will appoint employees of the customer service department and other departments to meet the needs of the Preferential Professional’s portfolio.
This support mechanism does not only take into account the clients’ portfolio priorities, but also focuses on the needs of the Preferential Professionals in managing the portfolios.
Continuous demand assessment
The bank in Saint Lucia will be meeting with the Preferential Professional annually to discuss the portfolio.
Discounts on fees
Depending on the portfolio size and the transaction volume, Preferential Professionals can offer their clients an opportunity of reducing the operating costs.
Opening of a Corporate Bank Account in Saint Lucia
The bank would like to offer the opening of corporate accounts remotely to all of its potential clients. The period of account opening takes 5 to 7 days after the bank receives all the necessary documents.
The minimum deposit amount for opening an account is as follows:
The bank in Saint Lucia requires a minimum deposit of USD 5,000 to open an account;
The minimum account balance amount:
The minimum initial account balance must be about USD 5,000.
Multicurrency deposit account
The bank holds the most reliable and respectable correspondent accounts and has the best financial and investment partners, which allows the bank to offer very competitive terms and conditions for opening multicurrency deposit accounts.
Currently, the bank in Saint Lucia offers deposit accounts in 15 currencies, which allows to avoid converting the account balance into the main currency of the account once the account is credited. Multicurrency payments are made via the international SWIFT system, and all payments are made within 24 hours.
SWIFT offers multicurrency deposit accounts in the following currencies:
| USD | GBP | EUR |
| CAD | JPY | AUD |
| HKD | NZD | SEK |
| CHF | THB | NOK |
| ZAR | AED | XCD |
The initial deposit amount usually starts from USD 25,000.00 or its equivalent. The deposit term can amount to 30, 60, 90, 190, 270, and up to 365 days. The rate will depend on the deposit term, the interest will not be taxed in Saint Lucia.
The bank’s multi-currency accounts in Saint Lucia are excellent not only for the international trading companies, international financial service providers and other businesses and ventures.
Online Banking at the Bank in Saint Lucia
The bank in Saint Lucia offers online banking with 24/7 access at the international level. You will be able to check your account balance and make transactions from any part of the world.
In order to communicate with the bank not only in the flexible mode, but also to make this communication as confidential as possible, the bank provides the opportunity to communicate via special secret messages, with no need for using the emails whose security cannot always be ensured at an adequate level.
Safe and secure access to your account will be ensured by a special device called TOKEN that is given to all of the bank’s clients.
Credit Cards Issued by the Bank in Saint Lucia
As the bank’s client, you can become a credit card holder of the sister bank in Saint Lucia.
Having received your credit card application, the bank will forward this credit card application of yours to its sister bank that will be processing it. The application processing time is up to 7 days.
Before applying for a credit card, you must ensure the guarantee amount in the account to which the card will be linked. Once the credit card is ready, the bank will forward it to you by FedEx courier mail to the specified address.
Main Features and Requirements for Acquiring Credit Cards:
- All credit cards must have a guarantee deposit of 125% of the credit limit.
- All cards are issued in USD only.
- When filling out the credit cards application, you must specify the credit limit of the card and its type.
- VISA or MasterCard are available as personal cards. Corporate cards are VISA only.
- Annual card maintenance fee is as follows: USD 60.00 for personal cards; USD 150.00 for corporate cards.
- Statement on the cards will be provided monthly by the sister bank in Saint Lucia. Further on you will be able to get its copy in the PDF format by email.
- Your card will be completely covered from your account balance every month.
- The bank can replenish your card for you, this service costs USD 15.00.
- If your cards gets closed, the balance will be transferred to your settlement account within 150 days. It is necessary to cover all the possible card expenses that could be delayed.
- Should the card lack enough money, the required amount of indebtedness can be written off from your guarantee account.
- The interest of 0.30% is accrued on the amount exceeding USD 10,000.00 if the amount is in the guarantee account.
- You will get a Personal Identification Number (PIN) after you got your credit card.
Credit cards can be used in the ATMs for cash withdrawals.
The daily limit for cash withdrawals is USD 2,000.00 per day within a transaction of USD 1,000.00.
The weekly limit is 5 withdrawals a week of the total amount of USD 5,000.00.
Credit Card Fees
| Cash withdrawal from ATMs | USD 12.00 or 2.5% (which is more) of the transaction amount |
| POS (Point of Sale) terminal transaction | Free of charge |
| Card interest rate | 1.625% per month |
| Prepaid Credit Cards | |
| Cash withdrawal | Maximum USD 1,000 per withdrawal (USD 2,000.00 a day); |
| Cash withdrawals within 7 days | Maximum of USD 5,000 |
| Prepaid Card Fees | |
| New card | USD 10.00 |
| Extra card | USD 8.00 |
| Card replacement | USD 15.00 |
| Card extension | USD 7.00 |
| Card crediting fee | USD 15.00 |
| Cash withdrawal | USD 2.50 |
| POS (Point of Sale) terminal transaction | USD 1.00 |
Procedure of Opening a Corporate Bank Account in Saint Lucia Remotely
In order to get this service provided by the Offshore Pro Group experts and get your account with the bank in Saint Lucia opened, you should contact us by email to: info@offshore-pro.info.
Then you will need to pay a service fee charged for the assistance in opening your account with the bank in Saint Lucia. The service fee can be paid with a card, via Western Union, WebMoney or a bank transaction. The service cost starts from 3999 EUR.
Having received your payment, we will begin the process of preparing your papers.
For opening the account, individuals will be required to provide the following documents:
- Filled out, printed and signed copies of the bank forms for opening the account;
- Notarized copy of the travel passport or another ID with the photograph and signature pages.
- Proof of residence that should include copies your of utility bills, or bank statements (credit cards), which reflect the valid address required to confirm your residence address.
Note: Note: the utility bill information should not exceed 3 months by the time the package of documents is submitted for registration. The utility bills must be translated into English, notarized, and clearly reflect the residence address of a particular individual.
- Reference letter from a professional, such as a banker, a certified accountant or a lawyer.
Note: The reference letter must be written in English and issued no later than 2 months before applying for the account opening, and the client should have had relations with the professional within at least 2 previous years.
A company must present the full package of corporate documents, as well as details about the structure of the company or trust (in case it is a trust), and all the other details that the bank may request:
- Notarized copy of the Company’s Certificate of Incorporation/Certificate of the Company’s Good Standing (if the company has been in existence for more than one year).
- Notarized copy of the General Meeting Minutes and the Articles of Association of the legal entity/structure/operating agreement and the Memorandum or By-Laws.
- Certificate of Shareholders/Subscribers.
- Subscribers appointment of the company’s director.
IMPORTANT: all the documents must be translated into English and notarized.
The corporate bank account in Saint Lucia will allow you to pro-actively manage your assets and enjoy various products for multiplying your capital. Should you wish to start the procedure of opening your corporate bank account in Saint Lucia, please do not hesitate to email us to info@offshore-pro.info.
