Nevis LLC bank account opening includes many international commercial banks that shareholders can consider. However, as always, deposit, risk profile, and account activity will play a large role in determining which banks are realistically available.
That said, options exist. And, several of the options include remote account opening in one of the most sought-after international banking hubs available (more on this below).
In this article, we’ll share insights on offshore business banking for Nevis LLCs as well as onshore banking alternatives you may want to consider.
Feel free to use the table of contents to jump ahead to the sections that are most relevant to you.
Table of Contents
- Nevis LLC Bank Accounts 101
- Company Formation in Nevis
- Opening Offshore for a Nevis Entity
- Bank Considerations
- Frequent Questions
Nevis LLC Bank Accounts 101
It is 100% possible to open a bank account for a Nevis LLC. It’s even possible to open accounts 100% remotely in places like the United States with one.
In fact, opening accounts in the United States for a Nevis LLC can be done at real brick-and-mortar, FDIC-insured US banks, if you know where (and how) to apply. This is an excellent option for any Nevis LLCs with regular US transaction activity, investments, or other US connections that can be clearly shown.
Alternatively, if you are looking for banking in other jurisdictions, the options become more limited. For example, many popular banking jurisdictions such as Switzerland and Singapore may be more hesitant to open accounts due to a lack of familiarity with the Nevis LLC structure.
For example, traditional banking hubs tend to be more familiar with structures from the British Virgin Islands, Singapore, Switzerland, Ireland, the UK, and elsewhere. Bankers are comfortable with these entities because they’ve been around for decades, are used to seeing them, and their bank has usually opened accounts for them before.
Company Formation in Nevis
The vast majority of people looking to structure an entity in Nevis are looking to form a Nevis LLC or Nevis IBC.
Alternatively, Nevis also provides the option to set up foundations, trusts, money services businesses, international banks, and other regulated entities.
But for the purpose of this article, we’re only focused on Nevis LLC bank account opening.
Nevis LLC Benefits & Nevis LLC Asset Protection
The Nevis LLC is at the center of the country’s popularity in the offshore world.
The reason for this is quite simple: the Nevis LLC offers enhanced asset protection, the option for “certificated membership”, and it’s relatively affordable when compared to similar structures.
Surprisingly, the Nevis LLC is also “bankable” – meaning (in our context), that you can actually open bank accounts for it in several major banking hubs. This includes opening accounts in the United States, which is very interesting for US citizens with a membership interest in a Nevis LLC.
Of course, if you choose to form a Nevis LLC with certificated membership you will have extremely limited banking options. No banks (that you would want to bank with) will open new accounts for you. Instead, certificated membership should be reserved for pure asset protection requirements, where a bank account is not required.
Opening Offshore for a Nevis Entity
If you are focused on opening an offshore account for a Nevis LLC, there are a few options that you can choose from.
However, the best options will be those jurisdictions where you have (or can acquire) clear ties. That’s because most banks are only interested in opening an account for an offshore entity if there is a clear reason to do so.
For example, if your Nevis LLC conducts operations and pays contractors in specific jurisdictions, it may be beneficial to explore those countries as options.
Our team assists our members with this by helping them navigate the available options in our detailed Offshore Company Account Opening Report, available in GlobalBanks IQ. It provides step-by-step instructions on where and how to open accounts for entities like the Nevis LLC.
Bank Considerations
If you are getting ready to open an account, make sure to think through the bank’s opening requirements before applying.
In other words, request the bank’s requirements, analyze them, compile the necessary documents, obtain the necessary certifications, and get all of your paperwork in order before you contact the bank.
This is important because it dramatically decreases the amount of time it takes to get an account open. Additionally, it can help you determine which banks you can realistically access, and which you should avoid (based on their account opening requirements).
Frequent Questions
Can I Open a Bank Account in Nevis?
Yes, you can open a bank account for a Nevis LLC. Depending on the specific bank that you plan on opening an account with, Nevis LLCs will usually be required to make a qualifying deposit between $10,000 and $100,000. In most cases, accounts can be opened 100% remotely.
How Much Does a Nevis LLC Cost?
The cost to form a Nevis LLC depends on the specific registered agent that you use. That said, the annual government registration cost is only $250, which is paid to the Office of the Registrar of Companies.
Opening Accounts for a Nevis LLC
If you are interested in opening an account for a Nevis LLC, you can access GlobalBanks Insider and start the process of applying for accounts in a few clicks.
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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 on our website.
