• [En]

  (+44)203-287 0408

  office(at)bridgewest.eu

(+44)203-287 0408
office(at)bridgewest.eu
Company Formation Isle of Man

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Open a Bank Account in Isle of Man

Updated on Friday 09th February 2018

Rate this article
5 5 1
based on 2 reviews


Open-a-bank-account-in-Isle-of-ManIsle of Man is one of the most sought destination by foreign investors interested in establishing offshore companies because of the trading facilities they can benefit from in the European Union. Setting up a company in the Isle of Man is subject to several requirements which fall under the governance of the Companies Law.

Among the requisites for opening any type of company in Isle of Man, the legal address and the bank account opening is mandatory. Below, our company formation agents in Isle of Man explain the procedure for opening bank accounts here.

Types of bank accounts in Isle of Man

The banking system in the Isle of Man is based on the UK system. Also, most of the financial institutions operating here are branches of UK banks which gives a high level of confidence to those who want to set up various types of bank accounts.

 Among the types of accounts with can be opened with Isle of Man banks are:

  • -          personal bank accounts;
  • -          savings accounts;
  • -          corporate bank accounts.

One of the most popular type of account sought by foreigners is the non-resident Isle of Man bank account.

Our company registration advisors in Isle of Man can help you create any of the bank accounts mentioned above.

Requirements to open an Isle of Man bank account

The requirements for setting up a bank account with a local bank depend on whether the future client is a natural or legal person. In the case of individuals, an identity card or passport will be required as identification documents.

In the case of companies seeking to have bank accounts with Isle of Man banks, the requirements are different. The following are required to present passports and evidence of a local residential address:

  • -          the shareholders of the company;
  • -          the beneficial owner of the company, if any;
  • -          the director or directors of the company;
  • -          the representative of the company.

The great advantage of opening a non-resident bank account in Isle of Man is that local banks do not require the physical presence of the applicant. Also, a minimum deposit must be considered depending on the bank.

In the case of corporate bank account openings, our company formation consultants in Isle of Man can represent you. Do not hesitate to contact us if you need assistance in starting a business in Isle of Man.

 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Meet us in Douglas


Call us now at +44 203 287 0408 to set up an appointment with our business consultants in the Isle of Man. Alternatively you can incorporate your company without traveling to the Isle of Man.

As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in the Isle of Man.

Contact us

Online Incorporation

tax-calculator-isle-of-man

We recommend ClientPedia

This website is marketed by ClientPedia

banner Clientpedia.jpg