Open a bank account in British Virgin Islands

$1,000.00

The British Virgin Islands (BVI), officially the Virgin Islands, are a British overseas territory located on the Francis Drake Channel, east of Puerto Rico, in waters of the Caribbean Sea. The islands are part of the archipelago of the Virgin Islands, the other islands being part of the United States Virgin Islands and the Spanish Virgin Islands belonging to Puerto Rico.

The archipelago is made up of about forty islands, of which eleven are inhabited. The largest are Tortola, Virgin Gorda, Anegada and Jost Van Dyke. Its population is 27 800 inhabitants, living 23 000 on the island of Tortola, where it is located Road Town, the capital.

The executive power of the British Virgin Islands is shared between the monarch of the United Kingdom who is represented by a governor. This governor is appointed directly by the Queen on the advice of the British Government. Defense and foreign affairs are under the responsibility of the United Kingdom.

The BVI is one of the most prosperous economy among the Caribbean states, with one of the highest GDP per capita worldwide. Political stable, with modern infrastructures and a pro-business environment. Its main sectors are the offshore financial services and tourism. Due to its close relationship with the US Virgin Islands, the US Dollar is its official currency.

The British Virgin Islands is one of the world’s largest offshore financial centres and a world’s leading centre for company incorporation. The sector accounts on over half of the jurisdiction GDP and incorporation fees accounts for more than a half of Government revenue.

The other significant economic sector is tourism, which approximately contributes on nearly half of the national income and employs a great part of its population.

The islands are a popular destination for its numerous white sandy beaches, the Baths of the Virgin Gorda, scuba diving on coral reefs near Anegada, the well-known bars on the Jost Van Dyke, or chartered yachts for exploring the less accessible islands.

We can help you open bank accounts in BVI. Accounts are available for individuals.
We work with 3 different banks in BVI. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We invite you to carefully review each banks requirements and services below to better understand if their banking services meet your needs:

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.

Bank Account option 1
Account Details
Eligibility Offshore Companies, Onshore Companies
Min Deposit USD 20,000
Currencies USD, GBP, HKD
Cards No
Remote Yes
Off-shore non-resident Yes
Other Services Transactional Banking, Discretionary Wealth Management, Lombard Loans

Bank of Asia does not onboard corporations who have a connection in US and Russia.

Account Details
Client Profile Day-to-day banking, Wealth Management
Min Deposit USD 20,000
Currencies USD, GBP, HKD
Cards No
Remote Yes
Off-shore non-resident Yes
Other Services Checking Account, Discretionary Wealth Management

Bank Account option 2
Account Details
Eligibility Local Companies
Min Deposit USD 25,000
Currencies USD, GBP, CAD, EUR
Cards Yes
Remote Yes
Off-shore non-resident No
Other Services Transactional Banking, Trade Finance, Payment Processing, Discretionary Wealth Management, Lombard Loans, Brokerage/Securities, Debit/Credit Card

Bank Account option 3
Account Details
Eligibility Offshore Companies, Onshore Companies, Local Companies
Min Deposit USD 500,000
Currencies Multicurrency
Cards No
Remote Yes
Off-shore non-resident Yes
Other Services Discretionary Wealth Management, Brokerage/Securities

VP Bank offers services to local BVI residents as well as international clients who have BVI companies, trusts or fund structures. It is primarily focused on financing, investment management, custodial and securities trading accounts. No Commercial Activity, only for asset management business.

Account Details
Client Profile Wealth Management
Min Deposit USD 500,000
Currencies Multicurrency
Cards No
Remote Yes
Off-shore non-resident Yes
Other Services Discretionary Wealth Management

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