Saint Lucia is an independent island republic, located in the Caribbean Sea on the boundary with the Atlantic Ocean. It covers a land area of 617 km2 (238.23 sq mi) and has a population of 174,000 (2010)
There are multiple advantages with St. Lucia as an offshore financial center: low taxes; it is a very stable nation, both politically and economically; there are no tax controls; it hasn’t signed any financial treaties; it counts on modern laws that ease the incorporation of offshore companies; the main language is English.
In the Saint Lucia’s economy, Tourism is vital. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Its economic importance is expected to continue to increase as the market for bananas becomes more competitive.
The characteristics of the bank account in St. Lucia are the following:
- No personal visit is required. Client is expected to send his personal documents, completed and signed bank forms and corporate documents to the bank upon receiving of our request.
- The procedure to open the bank account is very fast.
- Banks in St. Lucia issues Visa debit cards, Prepaid and Credit Cards in USD and EUR currency. It is very developed system and very simple and friendly use.
- Several currencies: EUR, USD, GBP, CHF, JPY, AUD or CAD.
- Initial deposit is required. The amount will vary depending on the bank entity chosen by the client. We recommend to make an initial deposit of 1000 Euros.
- Political and economic stability
- Excellent Online banking
Procedure to open bank account in Saint Lucia and required documents.
- Download Dedalos checklist here. So we can have all the information and the details of the bank account.
- Send us Dedalos checklist and the required documents:
- Copy of the Legal Documents of the company.
- Certified copy of Passport by notary.
- Original utility bill not older than 3 months (electricity, water, gas, telephone bill. Bank statements are not accepted)
- Original Bank Reference letter in English and the details of the official of the bank.
- Original Professional reference letter in English (the bank will contact with the professional who has issued the bank reference letter).
- If the Director, Shareholder or Secretary is a legal entity. The corporate documents must be submitted.
- CV of the Beneficial Owners.
- In 24/48 hours Dedalos Banking Department will send you the bank application to be signed, and a report and questions that we can face with the chosen Bank.
- You will e-mail the bank application form to us, together with all the documentation mentioned above. We will review it and we will liaise with the St. Lucia Bank until all is as demanded.
- If everything is ok, client will courier all the above documentation directly to the Bank.
- Once, the documentation will be received by the Belize Bank, the account will be active in 2 working days.
- The whole procedure is taking around 2 weeks.