Capital Security BankCorporate Account

Capital Security Bank was established in 1997 and is the only private bank operating within Cook Islands only. CSB is regulated by the Financial Supervisory Commission Cook Islands and holds both and international and domestic banking license.

The bank is covered by Professional Indemnity Insurance and operates in accordance with the Cook Islands Banking Act 2011, which provides comprehensive security and confidentially for bank customers. The confidentiality laws of the Cook Islands prohibit the disclosure of banking relationships except with the consent of the customer, ensuring that no creditor or foreign government can gain access to bank information except in the case of preventing money laundering or averting the financing of terrorism.

The bank does not lend against clients funds and remain 100% liquid and complies with International Financial Reporting Standards.

The bank offers traditional offshore banking services including call & term accounts in a wide range of currencies and investment account with access to stocks, bonds, mutual funds and other investment products.

CSB’s capital adequacy ratios: Core 11.3%, Tier1 11.3%, Total: 13.4%.

WHAT CAPITAL SECURITY BANK OFFERS:

• Personal and corporate multicurrency accounts.
• The bank is focused mainly on investment type of accounts with low transactional volumes.
• Cash accounts, precious metals accounts, investment accounts, wealth management.
• Full Internet banking.
• International wire transfers in all major currencies (USD, EUR, GBP, AUD, NZD, CAD, CHF, JPY, HKD, SGD, NOK).
• Fixed Deposits
• The approximate timeframe for account allocation is 2-4 days after the original documents have been received by the bank.

BANK TARIFFS AND CHARGES

Capital Security Bank can be considered as medium-cost bank with respect to account maintenance and bank transfer fees. Multicurrency establishment fee is USD 500 and monthly account maintenance fee is USD 50. Fees for outward wire payments can vary from USD 40 to USD 100 + third party charges. depending on the amount of payment. Fees for inward wire payment are USD 15 + third party charges.

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.

Agent Legal 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.

REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH CAPITAL SECURITY BANK:

• Personal presence is not required
• The minimum initial deposit and balance required: US$20,000
• The bank does not accept cash intensive businesses (e.g. retail stores, hotels, convenience stores, taxi businesses etc.)
• The account will be activated within 2 - 4 business days, upon receipt by the bank of all duly completed forms and relevant information.

DOCUMENTS REQUIRED

For the Company:

A set of legalized (apostilled) company documents consisting of:

• Certificate of Incorporation
• Memorandum and Articles of Associations
• Documents confirming the appointment of company directors and secretary (if any)
• document confirming the location of the registered office
• Share Certificate(s)
• Certificate of Good Standing if the company is more than 12 months old

For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

• Notarized color 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 (electricity, water, gas or cable) dated within 6 months as verification of residential address.
• A Bank reference letter, dated within 3 months. The bank reference letter must be on official bank's letterhead. Ask your banks to include the date of letter issuance, the date of account opening,the type of account held, satisfactory relationship, signature of bank's senior personnel.
• Personal CV

For each corporate officer (where the company directors or shareholders are legal entities), please provide:

A set of legalized (apostilled) company documents consisting of:

• Copy of constitutional documents (Certificate of Incorporation, Articles, etc.).
• Copy of Corporate Register (which shall include Register of Shareholders, Directors and Secretary).
• Copy of the Corporate Structure.
• Certificate of Good Standing.

PLEASE NOTE:

Documents that are not in English must be accompanied by a certified translation.
Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.

IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, Agent Legal will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.

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 can vary from USD 75 to USD 95. The fees depend on the jurisdiction of your ordered company, the country where the bank is based as well as your destination country.