VP Bank Ltd
Personal Account Opening in Virgin Islands (British)
CURRENTLY UNAVAILABLE
FACTS & INFO
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About the Bank
VP Bank Group is an internationally positioned private bank. It specialises in asset management services for private individuals and intermediaries. VP Bank was founded in 1956 and its shares are listed on SIX Swiss Exchange. The Group’s financial strength is rated “A–” by Standard & Poor’s.
Founded in 1995, VP Bank (BVI) Ltd was the first VP Bank subsidiary established outside of Europe. The bank holds a general banking license as well as a Securities and Investment Business license. They offer the full range of private banking services to high-net worth individuals, intermediaries and asset managers worldwide.
VP Bank (BVI) Ltd is the only Private Bank in the BVI. The bank is supported and strengthened by its sister offices in Liechtenstein, Switzerland and Luxembourg who have a long unblemished history of providing first class banking services.
VP Bank (BVI) Ltd is specialized in providing tailor made investment management solutions and related investment services to international and domestic clientele.
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Facilities
WHAT VP BANK (BVI) OFFERS:
VP Bank (BVI) Ltd offers a wide range of banking services, including accounts in all major currencies (and a few specialty currencies such as the Offshore Chinese Yuan Renminbi), international wire transfers, securities, foreign exchange and precious metals trading for both institutional and private clients.
- Accounts in various currencies
- Wealth planning
- E – Banking
- Asset management
- Financing
- Family office services
- Fund solutions
The bank do not offer retail bank facilities such as credit/debit cards or checking accounts. The bank cannot handle large volumes of payment transactions. The bank only deals with domestic lending (BVI) and investment / custody of securities for wealth management.
The approximate timeframe for account allocation from 7 to 10 business days receipt of the original documents by the bank.
BANK TARIFFS AND CHARGES
VP Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. Incoming wire transfers are free of charge. International wire transfers executed by client via e-banking will be charged at USD 50 and international transfers ordered in person or in writing will be USD 150, not including foreign bank charges. The monthly account maintenance fee for international accounts is USD 20 per month if the total account balance is more that USD 100,000 and USD 80 per month if the account has less than USD 100,000.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- 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.
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Requirements
REQUIREMENTS FOR PERSONAL ACCOUNT SET UP WITH VP BANK (BVI):
- Personal presence is not required.
- The client must have a connection to the BVI for account opening.
- A minimum initial deposit and ongoing balance of at least USD 100,000 or equivalent in any of the major currencies or assets.
- Account opening timeframe. The account will be activated within 7 - 10 business days, upon receipt by the bank of all duly completed forms and relevant information.
- A connection should be had with the BVI in order for the application to be accepted.
DOCUMENT REQUIREMENTS FOR PERSONAL ACCOUNT SET UP:
- Notarized copy of valid passport. The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker's reference letter dated within 3 months.
- Personal CV
PLEASE NOTE:
Documents that are not in English must be accompanied by a certified translation.
The bank offers BVI mortgages for BVI situated property to global clients including US resident clients.
SHIPPING COST
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and will be USD 130. Please be advised that there will be some exceptions where the fee might be higher.