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Business account for BVI company

dvm

Active Member
Apr 14, 2018
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Dear experts, I own a BVI company, which I'm going to shut down soon. The company has the simplest structure - 1 owner, who is the only director at the same time. The company's activity is perfectly legal and does not require licensing - software development. Prior to closing the company I need to receive 1 final transfer from a European partner. Currently the company does not have any accounts. What would be the cheapest option for opening a business account for such a purpose? Any solution, which would allow to receive this transfer in the most efficient way fee-wise would do (epayments and transferwise are not an option, though).

Thank you.
 
If E-payments and TransferWise are not options I think your only option is to open a bank account for the company and receive the payment before closing the company and account down. Banking is available for BVI Companies in locations such as Mauritius, Seychelles, Cayman and Puerto Rico.

Can you please recommend specific banks at those jurisdictions? Thanks.
 
I am also interested in hearing suggestions for BVI COmpany. Butterfield in Caymen declined as "our policy does not allow for Corporate Accounts to be established for persons without a local presence, or a commercial link to the Island" VP Bank, declined as the ultimate beneficiary (myself) is a US Resident.
 
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