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The financial services industry of the Cayman Island developed along with the other offshore centers, on the basis of private banking. Throughout the global community the Cayman Islands is recognized as a sophisticated, mature and diverse financial centre. As a premier financial services jurisdiction, Cayman attracts the world's leading accounting, legal and investment firms, and the banking industry remains a cornerstone of Cayman's success. |
Opening a Bank Account in Cayman Island
If you wish to open a bank account or use financial services offered in the Cayman Islands, you will be asked to provide personal information in order to establish and confirm your identity, as required by Cayman law.
The following is a list of information/items required prior to the opening of a personal account:
a) An original financial reference addressed to the Bank indicating a satisfactory relationship of over three years, and quoting approximate average balances maintained over the past six months.
b) Your full details including name, residential address, telephone/fax numbers, nationality, date and place of birth, occupation, name and address of employer.
c) Details regarding the purpose of the account.
d) The nature and dollar volume of anticipated transactions through the account including the source of funding of initial and subsequent deposits.
e) A notarized clear copy of your passport or driver's license (with photo showing).
f) Confirmation of physical address (e.g. copy of a utility bill or driver’s license.)
In addition, for accounts of non-resident individuals, most banks require original character references addressed to the bank directly from a law or an accounting firm. Certification of identification is not required of persons who have been personally interviewed at the Bank and from whom a photocopy of passport has been taken by Bank personnel.
Credits: http://www.gocayman.ky
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