Banking in the Caymans/Carribean? - GoFuckYourself.com

MrVids · 09-12-2005, 07:07 AM

So I'm on a cruise in the Carribean with a stop @ Grand Cayman in the next couple days, and just had the thought that I should open an account. Anyone else here bank in the Caymans? If so, which bank do you use?

-mv

tranza · 09-12-2005, 08:07 AM

you are a lucky guy! wish i was in caribean too

Brad Gosse · 09-12-2005, 09:03 AM

You can't open a Cayman bank account without a Cayman corporation unless you are a Cayman citizen.

Setting up a corp in Grand Cayman costs about $5k and takes 7-10 days.

Also expect to have a $250,000 minimum deposit with most major banks to open the account.

ICQ me if you want me to put you in touch with my attorney in Grand Cayman who does corp setups for non-residents.

ICQ: 137 202 998

MrVids · 09-12-2005, 12:01 PM

any other input?

Penrod · 09-12-2005, 12:28 PM

I have an account in Grand Cayman and I do not have a corporation nor am I a citizen.

I have accounts ant CNB and CIBC. Had an account at FCB until about 7 yrs ago when one of the local councilman ran the bank into the ground. Lost a ton of money on that one.

Go to Switzerland.

Webby · 09-12-2005, 12:53 PM

Quote:

Originally Posted by MrVids

So I'm on a cruise in the Carribean with a stop @ Grand Cayman in the next couple days, and just had the thought that I should open an account. Anyone else here bank in the Caymans? If so, which bank do you use?

-mv

MrVids... If you are thinking of confidential banking... the Caymens have already opened their doors when the OECD/FATF asked them to. If you are looking for "offshore", Caymens is a "has been".

That cruise ship may however be visiting other islands?

But to be honest, all this stuff needs planning and often wise to have a corp in place before opening any bank accounts. (BTW.. If a lawyer said any corp is gonna cost $5K - they'd be told to stop fucking around and close the door on the way out. No corp costs $5K in any jurisdiction.)

It would be unusual for an offshore Caribbean bank to open a private account on presentation of ID such as a passport - it is normal to have a corp associated with this. You could contact a few banks direct in advance and check the possibility.

Also it is *very* important where your country of residence is. If it is the US - you definately need legal advice. Elsewhere is not so much a problem.

09-12-2005, 07:07 AM	#1
MrVids i am a meat popsicle Industry Role: Join Date: Jan 2005 Location: Seattle, WA Posts: 1,070	Banking in the Caymans/Carribean? So I'm on a cruise in the Carribean with a stop @ Grand Cayman in the next couple days, and just had the thought that I should open an account. Anyone else here bank in the Caymans? If so, which bank do you use? -mv

09-12-2005, 08:07 AM	#2
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	you are a lucky guy! wish i was in caribean too __________________ I'm just a newbie.

09-12-2005, 09:03 AM	#3
Brad Gosse Confirmed User Join Date: Jan 2002 Location: Carpal Tunnel Posts: 2,616	You can't open a Cayman bank account without a Cayman corporation unless you are a Cayman citizen. Setting up a corp in Grand Cayman costs about $5k and takes 7-10 days. Also expect to have a $250,000 minimum deposit with most major banks to open the account. ICQ me if you want me to put you in touch with my attorney in Grand Cayman who does corp setups for non-residents. ICQ: 137 202 998 __________________ Free Clipart

09-12-2005, 12:01 PM	#4
MrVids i am a meat popsicle Industry Role: Join Date: Jan 2005 Location: Seattle, WA Posts: 1,070	any other input?

09-12-2005, 12:28 PM	#5
Penrod Confirmed User Industry Role: Join Date: Aug 2001 Posts: 3,578	I have an account in Grand Cayman and I do not have a corporation nor am I a citizen. I have accounts ant CNB and CIBC. Had an account at FCB until about 7 yrs ago when one of the local councilman ran the bank into the ground. Lost a ton of money on that one. Go to Switzerland.