Upon formation of a company or trust usually one of the first requirements is to establish a bank account.
Offshore Banking Background
Many traditional offshore banking centres have developed into highly reputable and regulated international banking centres with unrivaled technical expertise. The level of regulation and investor protection is often equivalent or indeed greater than many onshore centres.
Most leading banking group have firmly established operations offshore providing services specifically geared towards the international and offshore community. A host of reputable private banks, who boast a long history of providing attentive personal service, continue to operate in the offshore banking centres with discreet and often very complex banking products.
Once the decision has been reached as to the most appropriate jurisdiction and banking group to use then there is usually a substantial amount of information required for bank application mangates and compliance. It is not unusual for normal banking arrangements to take 1 to 2 weeks to become operational and complex arrangements a little longer.
Offshore banking is now a modern business and technology such as e-banking has assisted in the speed and accuracy of services provided.
Many offshore banks provide:-
- Online banking services
- Cheque books
- Term deposits
- Letters of Credit
- Investment Bonds
- Portfolio management
- International multi currency transfers
- International mortgages
- International multi currency loans
- Credit and Debit cards
- Business Consultancy services
- Trust accounts
- Pension schemes
Chesterfield provide a vast array of banking and related services to its managed companies and trusts.