BVI Corporate Bank Accounts: Elan is able to assist you in opening a corporate bank account in the British Virgin Islands, though a BVI company is generally able to open such an account anywhere in the world. Note that banks will require a copy of the corporate documents issued by the BVI Companies Registry before they can process your application. Generally a week is required from the date of incorporation before these documents are issued by the Registry. Purchase of a pre-incorporated Shelf Company can expedite this process and enable us to open your corporate bank account in less time. Requirements for opening a corporate bank account in the BVI include:   Bank account application form will be completed by Elan and forwarded to you for execution.  Please note that information on the company's business activities, the expected source of funds and the likely frequency and amounts of deposits will be required by the bank. If necessary, supporting documentary evidence will be required. The details of all Shareholders, Directors, Authorized Signatories and Beneficial Owners will also be required by the bank. All corporate paper work will be supplied to the bank by Elan.  Elan may request certain documents from you that are not on their records, such as licenses and agreements. A legible, notarized or bank certified copy of a passport and driver's license.  Photo Identification will be required by the bank for each Shareholder, Directors, Authorized Signatories and Beneficial Owners. Initial recommended deposit is US$2,500.00 to avoid bank charges. Original bank references (or statements of good standing) for each signatory to the corporate account and for all Shareholders, Directors, Authorized Signatories and Beneficial Owners. References to personal accounts are acceptable, and all accounts must have been in good standing for at least two years. Such bank references must be on letterhead, addressed to the BVI Bank where the account will be opened. Acceptable proof of address is required for each Shareholder, Director, Authorized Signatory and Beneficial Owner for whom references are provided (e.g., original bank or credit card statements; must be less than six months old). Copy of most recent audited accounts for the company, if not newly established. On occasion a professional/character reference may be required. Elan's fee for setting up your account is US$500.00. If Elan provides signatories to the account (which requires our advance approval, and is available only where we are providing Director's services), Elan will handle the application procedure and submit all the required documents listed above.  The principal retail banks in the British Virgin Islands are First Caribbean International Bank, First Bank and Bank of Nova Scotia. In addition, there are several European banks offering private banking services, such as VP Bank Liechtenstein.

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Corporate Address: Palm Chambers / P.O. Box 119 / Road Town, Tortola, B.V.I.
Telephone: +1 (284) 494.4590 / Telecopier: +1 (284) 494.2838 / E-mail: elan@elanbvi.com
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