Chesterfield (London) 
207 Old Marylebone Road
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856

Banking and the BVI

The BVI has a very strong banking sector for a Caribbean island.  It has all the modern international banking services available.  BVI bank information is strongly protected by law and there are severe financial and criminal penalties for any person who divulges information.  Such information can only be given out under a criminal investigation carried out in-land by local police.  Release of information by a bank to any foreign party or government is simply not possible unless ordered by a court in the BVI.

The BVI has a number of reputable banks to choose from such as Scotiabank which has been voted Global Bank of the Year or HSBC which has a presence on the island or perhaps VP Bank (BVI) Limited. CIBC FirstCaribbean bank is also represented , this is a major Caribbean bank offering a full range of services in corporate banking, wealth management and investment banking.  It is the largest regionally listed bank and was established by merger  of Barclays Bank  business  and Canadian Imperial Bank of Commerce of Canada  to form FirstCaribbean International Bank in 2002.  CIBC is a known  North American financial institution who also joined with FirstCaribbean in 2011.

The BVI is not the only option when opening a bank account, just because your company is incorporated there does not mean that your bank account has to be there.  You might prefer this at a location closer to your main business operations or at another offshore financial centre.  As the BVI companies have been so popular in recent decades most banks are familiar with the paperwork and opening an account is rarely a problem.

Chesterfield work with numerous banks around the globe and are on hand to assess your business needs and assist with the introduction to the bank of your choice.

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