Bank Location
Minimum Initial Deposit
Bank Opening Fee
Type of Account
Accounts currency:
Cards:
Crypto Allowed:
Remote Opening:
Jurisdictions allowed
Saint Lucia
US$10,000
US$350-US$800
US$350-US$800
USD, CAD, CHF, EUR, GBP, AUD, AED, HKD, JPY, NZD, NOK, ZAR, SEK, and THB
125% Cash Secured Card and Prepaid Card
Not allowed
Yes, but original documents must be mailed within 2 weeks of bank account opening.
All jurisdictions except sanctioned countries
Bank Fees
Account opening Fee: US$350 to US$800 depending on structure complexity.
Monthly maintenance fee: US$20
Penalty for balance lower than minimum required: US$40 per month.
Miscellaneous Information
Cards
-Cash Secured Card: Requires 125% security of the card limit, with balances paid monthly.
- Zero-Limit Card: Functions like a debit card; users preload funds, which set the spending limit.
Industries not allowed:
Adult entertainment
Gaming and gambling
Cryptocurrency
Block chain technology
Forex brokerage
Sanctioned entities and countries
Transactions with the following countries are not allowed:
Balkans,
Belarus
Burma,
Cote D'Ivoire (Ivory Coast),
Cuba,
Democratic Republic of Congo,
Iran,
Iraq,
Liberia,
Myanmar,
North Korea,
Sudan,
Syria,
Russia,
Zimbabwe,
Ukraine,
Venezuela.
Documents required to open an account
Account Requirements for Companies
Company Application Form duly completed
Certified copy of the Certificate of Incorporation
Certified copy of the Certificate of Good Standing/Incumbency (if the company is 1 year and older)
Certified copy of the Memorandum and Articles of Incorporation (or Articles of Incorporation and By Laws)
Certified copy of the Register of Shareholders
Certified copy of the Register of Directors
Appropriate US IRS W-Series Form
Appropriate CRS Form
From all UBOs (owning 10% or more) shareholders, directors and authorized signatories:
Certified copy of passport
Certified copy of driver’s license/ permit or national ID
Proof of address (original utility bill not more than 3 months old or certified copy of drivers’ license)
Reference letter from a banker, chartered accountant or lawyer (reference letters should not be more than 3 months old and the client must have maintained a relationship with the issuer for at least 2 years.)