Opening a Gibraltar Business Bank Account
We can assist you to open your bank account in Gibraltar!
If you want to register a business in Gibraltar you are required to also have a Gibraltar bank account and Gibraltar banks allow foreigners to hold corporate accounts. Gaming companies in particular find Gibraltar an ideal jurisdiction to register their business because of the gaming-friendly regulations.
What Makes Gibraltar Banking Solid
The Gibraltar banking sector has a solid and respected reputation
Documents Needed to Open a Business Bank Account in Gibraltar
When applying for a business bank account in Gibraltar, especially if you are a non-resident or foreign company, you will need to have all your paperwork in order. Documents you will need to present to the Gibraltar bank during the onboarding process normally include your passport; proof of address; comprehensive company documents; professional reference letter; financial reference letter; curriculum vitae and a business plan. The bank can also request any other documentation it feels is relevant.
Gibraltar Banks and EU Regulations
Gibraltar is an EU member state and as such follows the EU Savings Tax Directive. As an EU member, Gibraltar banks have to abide by the Banking Ordinance regulations of 1992. Gibraltar banks (and off-shore banking in Gibraltar) are supervised by the Federal Services Commission but also need to meet the regulatory standards of EU directives.
The personal account information of EU citizens with bank accounts in Gibraltar can be shared with other authorities in the account holder’s country of residence and Gibraltar authorities. This does not apply to off-shore companies.
Jyske Bank Gibraltar is a subsidiary of the Danish Jyske Bank and is considered one of the best regulated banks in the world. They pride themselves on their personal relationship with their clients and offer financial advice for corporate, personal and private banking. With an account at Jyske Bank Gibraltar you can hold multi-currencies; enjoy online banking; mortgages; loans; currency, investment and wealth management; Visa cards and more. Jyske has been in Gibraltar for 31 years but they announced in January 2019 that they are planning to sell the Jyske Bank Gibraltar subsidiary.
Barclays Bank PLC is a leading global financial institution specializing in investment and wealth management. They provide international and private banking services; fiduciary services; brokerage services and a wide range of other services worldwide.
Credit Suisse (Gibraltar) Ltd. Is a financial service company which has a history dating back to 1856 when it was originally established in Zurich Switzerland and they now operate in about 50 countries including Gibraltar. They are experts in wealth management; investment banking and portfolio management. Their services are customized to the needs of the clients.
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.