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Opening A Bank

Asked in Offshore (General) for Anguilla

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Dear All, I want to open an offshore bank. Does anyone know where best I can do this at minimal cost and time, and where I would not have to have a physical presence in the country. Key to my requirments is being able to use the term 'bank' in the title of my offshore entity. Other than that it does not really matter what I can or cannot do with the licence.Any information would be much appreciated.
 
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Posted by Nigel on Apr 20, 2010 at 13:38
 

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At last check, the licenses of banks without a physical presence, issued in the 90-es in Montenegro, were trading a dime a dozen. While the business cards are swank, you could set up bank accounts of such entities only with similar institutions without a physical presence. You may then start trading with Cuba and North Korea, as only their money laundry regulations - or lack thereof - make that possible.
 
Posted by Lowtax User on Apr 21, 2010 at 11:09
 

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Nigel, would you mind to explain to me what someone does with the term bank in its title, if he is not a bank and does not intend to use it as a bank? Very interested to hear about that, because its a rather strange request. info(at) eu-hub.com www.eu-hub.com Eu-Hub Malta Limited
 
Posted by Lowtax User on Apr 21, 2010 at 19:58
 

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Thanks for your replies. I am looking to open a bank in an international offshore financial centre so I'm not sure Montenegro fits the bill. I would also like to trade with more than just Cuba and North Korea, but thanks for the suggestion. Initially and primarily the bank would be used as a marketing tool. In my line of work and in the country in which I am working, having a bank as part of my group would make a very large difference.
 
Posted by Lowtax User on May 02, 2010 at 07:42
 

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I would think its not possible and does not make sense either. You know in the current financal climate a lot of jurisdiction were forced to change their approach to things. You will not find any acceptable place now that issues banking licences like you require. anyhow, any bank you licence woul dbe maintained and supervised and yould have to be funded as well. I think you need to come up with a different idea for your ventures. info(at)eu-hub.com www.eu-hub.com Eu-Hub Malta Limited
 
Posted by Lowtax User on May 08, 2010 at 18:51
 

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This works a very different way. You will need very good connections (lobby), highly reputed directors to manage the company, and at least $10-15M capital to start with. The regulator will deeply check the source of funds before granting the license. Nowdays it is hardly possible to start an offshore bank.
 
Posted by Lowtax User on May 10, 2010 at 07:41
 

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We can assist you with opening a bank in Panama. Contact us at info@panama.offshoreww.com
 
Posted by Lowtax User on May 12, 2010 at 16:05
 

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Dear Nigel, We can assist you in opening a Bank here in Saint Lucia. Contact bespokegroup@fachambers.com
 
Posted by Lowtax User on May 13, 2010 at 00:43
 

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Walking in the presence of giants here. Cool thinking all around!
 
Posted by Lowtax User on Oct 02, 2011 at 17:49
 

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