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A non-resident bank formation license allows the bank to conducting banking business outside St. Vincent and the minimum required capitalization is around US$100,000 only.
Banking Licenses from St. Vincent & the Grenadines |
A non-resident license allows the bank to conducting banking business outside St. Vincent. The minimum required capitalization is US$100,000 that must be in cash. The Government imposes a US$50,000 capital reserve requirement by a purchase of government bonds or cash that must be held during the lifetime of the bank. Applications are processed within 6-10 weeks.
Products & Services
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Commercial / Executive Cheque Accounts
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Call Accounts
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Term Deposits
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Saving Accounts
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Overdrafts
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Term Finance
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Housing Finance
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Foreign Currency Drafts
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Telegraphic Transfers
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Trade Finance Lines
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Travel Finance
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Master Card
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Visa Card
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Merchant Facilities
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Foreign Exchange
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Traveler's checks
Eurointermediare can customize the above listed services to meet specific international transaction and banking requirements. Assets can be denominated in any foreign currency, as well as U.S. dollars.
Benefits of the banking license
The benefits of opening a bank in St. Vincent are -
1. Take deposits
2. Issue guarantees
3. Letters of credit
4. Financial instruments
5. Offer payment services
6. Offer safe custody services
7. Offer credit reports
8. Issue certificates of deposit
9. Issue major credit cards
10. Advertise worldwide
11. Write credit ratings
12. Solicit funds from the general public
13. Give loans
14. Issue bonds
15. Offer leasing services
16. Issue checks and credit cards
17. Debt collecting services
18. Conduct trading in foreign currencies
19. Issue bank references
20. Issue letters of recommendation etc.
21. Set up banking instruments
22. Market insurance services
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