How to open a bank account in Bank of Asia

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

July, 2018

Last contact

December, 2024

Last update

June, 2024

payments in USD are possible;
to open an account, a personal meeting with a potential client is mandatory;
it is possible to open an account for an offshore company, incl. to the one registered on the BVI – which allows you to achieve the coincidence of the jurisdiction of the bank and the company

GSL rating

Beginning of cooperation

July, 2018

Last contact

December, 2024

Last update

June, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

2017

History

In March 2017, Bank of Asia was licensed by the BVI Financial Services Commission - the first license in two decades.

The bank is headquartered in the British Virgin Islands

Personnel

The staff speaks English

Bank’s shareholders

Carson Wen - Founder and Chairman of the Management Board, Bank of Asia (BVI) Limited

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Minimum requirements

50

Minimum balance, €

No restrictions

Transactions permitted per month

1 450

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

There are no strict minimum balance requirements.

The bank claims an additional monthly commission on corporate accounts of USD 50 for accounts where the average quarterly balance is below USD 20 000. There are no restrictions for personal

Transactions permitted per month

No limit on the number of transfers

Initial deposit of funds, €

The commission for opening an account is USD 1 450 (for a corporate account) and USD 150 (for a personal account), which is the initial payment that is paid upon application

Deadline for the initial deposit, month

Simultaneously with the application for opening an account

Minimum turnover, €/year

There are no turnover restrictions. But this is reflected in commissions

Tariffs and services

60

Outcoming transfer, €

60

Incoming transfer, €

60

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee is USD 60 or equivalent in another currency per transaction

Incoming transfer, €

Incoming payment is USD 60 or equivalent in another currency per transaction

Account maintenance, €/year

The monthly account maintenance fee is USD 5.

The bank claims an additional monthly commission on corporate accounts of USD 50 for accounts where the average quarterly balance is below USD 20 000.

There are no restrictions for personal

Distant access to the account

Internet Banking

Financial products

Founded as a digital international cross-border bank where customers can open an account and perform online banking without even visiting a physical branch

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

To open an account, a personal meeting with a potential client is mandatory

Required

Documents require notarized copies of standard corporate documents + fresh registers of directors and shareholders + office lease agreement.

For individuals - certified copies of passports and confirmations of residence no older than 3 months

Types of accounts

Savings; Current

Opening procedure and Due Diligence

It is possible to open an account without visiting the country where the bank is located; It is possible to open an account without meeting the banker

Chances to open an account

Predictable

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