Opening a business bank account in Jersey might not be as straightforward as you think.
In fact, only certain companies can actually open bank accounts here. In this article, we’re going to share which companies qualify and how to start the process.
Of course, if you’re looking to bank in Jersey because you want to open a corporate international banking account or a business IBAN account, we’ll share some alternative options you may want to consider instead.
Feel free to use the table of contents to jump ahead to any sections that are immediately relevant to your search.
Table of Contents
- Jersey Business Banking 101
- Who Can Open a Business Bank Account in Jersey?
- Frequently Asked Questions
Jersey Business Banking 101
Jersey is a highly sophisticated banking jurisdiction that acts as a conduit for foreign investment into the UK. It’s also a preferred jurisdiction for institutional investment vehicles, wealth management services, and corporate banking.
That said, while in some instances, it is possible to open business bank accounts in Jersey, the jurisdiction is better suited to individuals seeking premier or private banking services in Europe.
In fact, Jersey is one of the many offshore banking options in Europe that accepts remote account opening and allows virtual company bank account opening with reasonably low deposits.
Before diving in, if this is your first time visiting GlobalBanks, don’t forget to download your FREE Business Banking Starter Guide. It’s designed to help your business find and open accounts with the services you need around the world.
Who Can Open a Business Bank Account in Jersey?
When it comes to business banking, Jersey is typically considered an option for corporate banking (meaning large international corporations or Jersey entities) or local banking (entities carrying out the majority of their business activities locally).
So, if you are looking for transactional banking to support your small to medium business, Jersey probably isn’t the right fit. Plus, there are better (and more affordable) banking options for you elsewhere.
In most cases, international entrepreneurs with foreign companies often consider opening a virtual company bank account in Europe or a transactional account in one of the countries offering remote opening with relatively low deposits.
Alternatively, if you are looking for a specific company structure, like a UK company formation with a bank account, we share everything you need to know in this article linked here.
If you are specifically looking for business banking in Europe, you may want to consider one of the following options:
- Cyprus
- Lithuania
- Portugal
- Malta
- United Kingdom
Of course, the specific banking options that you can access for your company will ultimately depend on several factors such as where the entity is registered, the type of business it is, the individuals involved, the deposit you’re willing to make, and more.
To help you with navigating this process, we published Business Banking 101. It includes everything you need to know to successfully open business bank accounts, including specific jurisdictions to consider based on your particular profile.
You get immediate access to Business Banking 101 (and much more) when you join GlobalBanks IQ.
Frequently Asked Questions
Below are two of the most common questions that we receive from people looking into opening business bank accounts in Jersey. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Why Do People Open Jersey Business Bank Accounts?
Jersey is an offshore financial center and sophisticated banking hub that offers many benefits to different corporate entities. Of course, the specific benefits (and reasons) that corporate entities and businesses bank in Jersey depend on their activities, the jurisdictions involved, and what they are ultimately trying to optimize for.
How Do I Open Business Checking Accounts in Jersey?
In order to open a business checking account in Jersey, you will need to first find a bank that is willing to accept your company. If your business qualifies, you can then proceed to open an account 100% remotely. Of course, you should be prepared to make a qualifying deposit, meet all of the bank’s specific account opening requirements, and provide supporting documentation.
Do You Want Help Opening Bank Accounts?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
+ Direct support from a team of banking experts
+ Direct introductions to your desired banks
+ Answers to your most pressing questions and challenges
+ Expert insights on which banks to choose & why
+ Plus FULL access to our entire suite of account opening tools and intelligence!
And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
You can learn more on the products page from the main menu above.
