Loyal BankCorporate Account

Loyal Bank is a financial institution providing its customers with personal and corporate multi-currency banking services, investment and wealth management as well as retail banking. The bank exclusively dedicated to serving the needs of offshore and non-resident clients.

Loyal Bank is the largest and the longest established (1997) international bank in St.Vincent & the Grenadines. The bank is the principal member of MasterCard and SWIFT.

Loyal Bank has representative office in the Budapest, Hungary.

WHAT LOYAL BANK OFFERS:

• Full range of banking services.
• Multicurrency accounts in USD, GBP, EUR, CHF, JPY, AUD, CAD.
• Internet banking and SMS notifications.
• Multilingual customer support in 13 languages
• 24 hour multi-lingual customer service center.
• Secure online banking with the digipass.
• USD and EUR MasterCard debit cards.
• MasterCard Platinum with USD 30,000/EUR 20,000 monthly average deposit on your main account.
• Term deposits.
• Private Banking.
• Investment trading.
• Precious Metal Purchase.
• Forex Trade
• The approximate timeframe for account allocation from 5 to 7 business days receipt of the original documents by the bank.

BANK TARIFFS AND CHARGES

Loyal Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. Depending on the amount of transfer, incoming transfers will vary from USD 18- USD 35. The bank charges a minimum of USD 139 for outgoing transfers. The monthly account maintenance fee for a corporate account is USD 40.

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 LOYAL BANK

• Personal presence is not required.

• The initial deposit of USD 1,500 will be required.
• The minimum balance of USD 300 is required.
• Account opening timeframe. The account will be activated within 5 - 7 business days, upon receipt by the bank of all duly completed forms and relevant information.

DOCUMENTS REQUIRED

For the Company:

A set of legalized 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
• Copy of the Corporate Structure, identifying the ultimate beneficial owner(s)
• Valid License (if applicable)

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

• Notarized 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 / bank statement dated within 3 months as verification of residential address.
• Original or notarized copy of Banker's reference letter, dated within 3 months
• Power of Attorney (where applicable)
• Personal CV

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

A set of legalized 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.

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 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 where the bank is based as well as your destination country.