Jersey corporate bank account
Healy Consultants assist our Clients by project managing all processes involved with opening a corporate bank account in Jersey. It may be possible to open the bank account without needing to visit Jersey. Healy Consultants’ experienced international banking team will prepare the required documentation and attend a bank interview on your behalf. We are among the few global professional firms who provide this service.
Advantages of Jersey corporate banking
- Jersey banking services have risen in demand internationally over the past few decades, owing to the clamp down on tax havens by major foreign governments. Jersey, as opposed to tax havens, is seen as a reputable jurisdiction with a regulated and secure banking system which makes banking in Jersey an excellent long-term solution for international entrepreneurs;
- Conversely, Jersey’s stringent regulations make it unlikely that a corporate bank account will be opened in the island unless the company has a strong relationship with the jurisdiction, e.g. a local administrative office. In such a case, Healy Consultants can assist with corporate bank account opening elsewhere;
- While Jersey has strong banking security laws, it still maintains internationally renowned confidentiality practices. For more information on financial laws, visit the Jersey Financial Services Commission website;
- Jersey is considered as an important global business centre. Furthermore, Jersey as an international financial centre has a secure, reliable and well-regulated banking system;
- Jersey uses the British Pound as its currency and imposes no foreign exchange controls. Consequently, there are no laws hindering the repatriation of funds from the island;
- Jersey offers a deposit protection scheme, with its main feature being that personal depositors are covered for 100% of the first £50,000 of their savings with any bank;
- The banking security in Jersey is aided by the clear and fair investment laws. Foreign and domestic businesses are treated equally with the possibility of 100% foreign ownership in most sectors;
- Provision of multi-currency accounts and excellent Internet banking services are two major advantages of banking in Jersey, which facilitates global business. Furthermore, Jersey banks offer letters of credit (L/C) support for Jersey companies involved in international trading.
Jersey offshore banking
For all foreign and offshore companies, Healy Consultants guarantees Jersey corporate bank account approval or your money back. Our fee for this service is £3,950;
As you can appreciate, it is a difficult task to obtain bank account approval for a foreign company when shareholders and directors and bank signatories reside overseas. It is a time consuming task, Healy Consultants will shelter our Client from the administrative challenges. A sample of banking options follows: Offshore corporate bank account.
Key facts on Jersey offshore banking
- Demand for Jersey’s offshore Banking facilities continues to benefit from a well-regulated banking system and positive international reputation as a globally important and respected financial centre. Hence, the financial services industry in Jersey continues to grow to meet the needs of resident and international businesses;
- Healy Consultants’ Jersey offshore banking strategies are efficient, thanks to i) our vast experience with opening offshore bank accounts in Jersey and ii) improving customer service in the resident banks. That said, opening a Jersey corporate bank account could still pose a challenge due to the increased due diligence requirements and banks’ lower risk tolerance;
- As a global private banking and wealth management hub, Jersey caters to the offshore banking service requirements of wealthy people in Europe and globally;
- International entrepreneurs using offshore banking in Jersey will benefit from multi-currency accounts and excellent Internet banking, which facilitate global business.
10 steps to opening a Jersey corporate bank account
- Prior to submitting the bank account application, Healy Consultants requires detailed information on i) company’s activities (including proof of business like contracts and invoices etc.) ii) company’s customers and suppliers iii) details of the management team and iv) the company’s financial projections;
- On receipt of the aforementioned information, our experts prepare a detailed business plan, which will highlight the reasons for opening a Jersey bank account, the company’s activities and financial projections. The business plan will then be sent to the Client for review and approval;
- Healy Consultants approaches the local banks in Jersey to obtain preliminary approval for bank account opening for our Client’s company;
- Following receipt of the preliminary approval, Healy Consultants prepares bank account opening forms for our Client’s signature in front of notary public or local bank branch officer and courier return the originals to Healy Consultants Singapore office;
- On receipt of the original signed bank forms, the banks will implement strict KYC procedures to ensure the capital inflows are legitimate and clean;
- Despite strict guidelines, our experts will assist our Client with all corporate banking requirements with minimal inconvenience, assuming the bank receives sufficient information about our Client’s company activities, beneficial owners and bank signatories;
- Within two weeks following submission of the account opening application, Healy Consultants will receive the approval from bank;
- Our Client will be required to fund the bank account within one week. The minimum initial deposit for a corporate bank account in Jersey can range from £1,000 to £75,000 depending on the bank chosen;
- Within two weeks, Healy Consultants opens the bank account mails and activates the internet banking on our Client’s behalf;
- Following successful activation, we will dispatch a courier to our Client’s preferred mailing address containing bank documents and Internet banking details.
Other Jersey banking information
- Healy Consultants recommends our Clients to avail services of international banks such as Standard Chartered, HSBC , Barclays and Citibank because they offer the best internet banking service and customer care service;
- Banks in Jersey are highly reputable and provide full range of business facilities including multiple currencies, internet and telephone banking, checking and savings accounts, debit and credit cards, and wealth management services;
- Jersey banks offer multiple currency bank accounts, including the Pound, Euro, US dollar, and other global currencies;
Europe Banking options
Read more about Europe banking options.
Healy Consultants’ banking fees
Healy Consultants will return a portion of our fees if unsuccessful in corporate bank account opening for our Client’s Jersey company. Our fees for different banking services include:
|Jersey banking task||Our Client travels?||£|
|Jersey bank account for a foreign company||No||3,950|
|Jersey bank account for a foreign company||Yes||2,950|
|Jersey bank account for an offshore company||No||3,950|
|Jersey bank account for an offshore company||Yes||2,950|
|Jersey bank account for a Jersey company||No||2,550|
|Jersey bank account for a Jersey company||Yes||1,550|
|Jersey personal bank account||No||1500|
|Jersey trade finance assistance||No||1500|
|Jersey corporate finance assistance||No||1500|
|Jersey international mortgages finance assistance||No||1500|
|Jersey private equity assistance||No||1500|
|Jersey investment banking assistance||No||1500|
|Jersey private banking assistance||No||1500|
Frequently asked questions
Is business Internet banking in Jersey safe for corporate transactions?Yes. Healy Consultants works with some of the best international banks, which guarantee the safety of our Client’s corporate account through industry-leading encryption and security.
Are there any special restrictions put on foreigners accessing Jersey corporate banking services?No. There are no special restrictions put on foreigners wishing to engage in corporate banking in Jersey. However, strong local banking regulation may decrease the likelihood of corporate bank account approval if our Client’s business does not have a close relationship with the island.