Bank of St Lucia International (BOSLIL)
Personal Account Opening in St Lucia
The Bank of St Lucia International Limited (BOSLIL) provides personal multi-currency accounts and full e-banking facilities within a stable and reputable offshore jurisdiction. It offers competitive products and services, and a very conservative banking model designed to meet the commercial needs of its international clientele.
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FACTS & INFO
REQUIREMENTS FOR ACCOUNT SETUP:
- Personal presence in the bank is not required.
- Initial deposit and minimum account balance requirements of US$5,000.
- The account opening timeframe will be on a case-by-case basis
- Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of a bank reference letter, dated within 3 months.
- Power of attorney (where applicable).
- Personal CV.
Documents that are not in English must be accompanied by a certified translation.
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.
About the Bank
The Bank of St Lucia International Limited (BOSLIL) is an international banking subsidiary of the East Caribbean Financial Holding Group (ECFH), providing globally competitive products and services to international clientele. The ECFH group shareholders include the Government of St Lucia, Republic Bank Limited, a consortium of five OECS indigenous banks and financial institutions, and the National Insurance Corporation (St Lucia). The remaining 30% of shares are held by over 4,000 individual and corporate investors from throughout the Caribbean region.
BOSLIL started its operations in 2004 with a total asset base of US$3.1m. Since then, BOSLIL has grown to 34 staff serving over 2,400 international clients with total assets of US$372m at the end of 2013. BOSLIL has become the leading banking institution of the international financial services sector in St Lucia.
BOSLIL is regulated by the Financial Services Supervision Unit of St Lucia and the Eastern Caribbean Central Bank. The bank has correspondent banking relationships with the most reputable and safest banks in the world and conducts its business in accordance with internationally recognised principles of banking. The ECFH and its subsidiaries are considered as foreign financial institutions according to FATCA rules and are, therefore, required to comply.
In 2013, BOSLIL received the ‘Service Exporter of the Year’ award at the St Lucia Business Awards, organised by the St Lucia Chamber of Commerce.
BOSLIL offers its clients a very conservative banking model designed to meet their international commercial needs while paying significant attention to a high level of personalised service.
WHAT BANK OF ST LUCIA INTERNATIONAL LIMITED OFFERS:
- Multi-currency accounts with 15 major global currencies.
- Full e-banking.
- Visa or MasterCard credit cards.
- Cash-collateralised lending for investors and/or group structures that require a loan facility.
- Wealth management
- Multilingual customer support.
- Account opening timeframe on a case-by-case basis.
BANK TARIFFS AND CHARGES
BOSLIL can be considered a medium-cost bank with respect to incoming/outgoing payments and account maintenance. It charges US$15 for incoming payments. The outgoing payment fees vary from US$40 to US$200 depending on the amount of transfer. The annual cost for account maintenance is US$150.
PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.
The Starting Business professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.