Banking System in Saint Vincent and the Grenadines

About Saint Vincent and the Grenadines

Saint Vincent and the Grenadines ranks on the 79th position in the world, in terms of nominal GDP per capita. It amounts to US$7,271.

Saint Vincent and the Grenadine is in the Caribbean. It is 1600 miles away in the south west of Miami and 100 miles away from the Barbados.

Saint Vincent and the Grenadine constitute a group of 18 small islands. Saint Vincent is the largest island in this group. Currently Saint Vincent and the Grenadines is an independent parliamentary democracy. It has a legal system based on common law.

Banking System in Saint Vincent and the Grenadines

The currency of Saint Vincent and Grenadines is East Caribbean Dollar. This currency is linked with the US Dollar. The ratio is 2.7 Caribbean Dollar is equal to 1 US Dollar.

The total currency of Saint Vincent and the Grenadine is managed by the Western Central Caribbean Bank. This has head quarters at Saint Kitts.

The entire economy of Saint Vincent and the Grenadine is based on sugar production and export of sugar. The banana cultivation and export of banana is also a major contributor in the economy of Saint Vincent and the Grenadine. Currently, the industry of tourism has taken over as the main generator of national revenue.

The Saint Vincent and the Grenadine government have groomed the island as the main centre for financial service. The most important sectors in financial sector in this island are banking, trust funds, securities and mutual funds.

There are more than nine thousand international trading companies, which are registered in Saint Vincent and the Grenadine. The banking industry is dependent on off shore banking. The leading banks in Saint Vincent and the Grenadine are B2B Bank, Loyal Bank, Bank of Saint Vincent and the Grenadine, Scotia bank, RBTT Bank and First Caribbean International Bank.

This region is primarily known for its tourism and financial institutions. The taxes being levied are very less in comparison to any other tax haven. There are quite a few banks which do provide offshore banking options at a very less processing fee.

Offshore Banking in Saint Vincent and the Grenadines

Banks Available at Saint Vincent and the Grenadines

It is a private bank specializing in wealth management, investment banking and private banking. It has the most secured internet connection when it comes to online transactions. No paperwork is required when it comes to opening an account with this bank.

It provides safety on precious metals apart from providing personal and corporate banking option. The processing fee is quite less and your assets are safeguarded by law. They have very less toxic assets which means you can safely rely on their banking system. Multicurrency option is also available.

Apart from providing affordable banking solution they also provide commercial, development and personal loans. They also have effective mobile banking solution. Other services include providing insurance and capital market services.

Documents Required For Opening Bank Account

Banking Benefits in Saint Vincent and the Grenadines

  1. Very less paperwork involved
  2. Transactions in multi-currency is available
  3. Minimum a week required to open your bank account
  4. Widely available for foreign nationals as well
  5. 24x7 online banking available
  6. Higher interest rates
  7. Physical presence is not mandatory
  8. Low charges on account maintenance

Why form an offshore bank account with DNS?

We have been helping individuals and companies to open up their bank account in various offshore locations. We have a cumulative experience of over 25 years in forming bank account for our customers. The process is hassle free and you just need to share some basic documents with us after which our account manager will handle all the necessary paperwork.