Why do Foreign Clients Choose to Open Gibraltar Bank Accounts
The fact that Gibraltar abides by Gibraltar and EU regulations means that Gibraltar is a solid and safe financial environment. Illegal activities in the Gibraltar financial sector are non-existent. This has made Gibraltar a popular choice for foreign investors and affluent clients. Gibraltar is home to many international banks who choose to open branches in Gibraltar because of the favorable corporate tax regulations; lack of foreign exchange controls; favorable tax properties; stable political climate; solid economy; well established banking sector and professional reputation of the financial sector.
What Non-Residents can Expect from a Gibraltar Business Bank Account
The number of countries that are still willing to open bank accounts for non-residents is diminishing. Some banks are willing to open accounts for those recommended by an approved and licensed service provider. However in Gibraltar there are still banking opportunities for non-residents. Non-resident companies in Gibraltar are the simplest type of off-shore business available in Gibraltar.
Non-residents opening a bank account in Lithuania will find the process complex. Recent new banking policies require non-residents to produce reliable verification of identity and authorized capital. You will need to provide a number of documents including various forms of identification. Each Lithuanian bank has its own requirements for opening a new account as a non-resident.
A Non-Resident Company Registered in Gibraltar must Abide by Certain Criteria:
- The company must be owned by non-residents of Gibraltar.
- The company must be directed by people not resident in Gibraltar.
- Non-resident companies are forbidden to trade with or conduct business in Gibraltar with Gibraltar residents. They may however do business with other non-residents or exempt companies.
- The non-resident company in Gibraltar must not remit income to Gibraltar.
- The non-resident company in Gibraltar must have its Registered Office, Resident Secretary and Company Register in Gibraltar.