Banking in the Caribbean may have different consequences: from loss of money as the bank goes bankrupt to absolute satisfaction with services, fees, and stability of the financial sector. Why is it? Well, the key is to know the current situation in detail – or rely on a competent expert who will recommend the bank and help open an account. 

We will give you an overview of Caribbean banking in this post, and you can get more detailed information on our portal called International Wealth. We have experts who can open an account for non-residents online and spare you the hassle of communicating with the bank or correcting document errors: we will thoroughly check and advise you on what should be written to get approval at once.

Let’s have a look at each jurisdiction.

Antigua and Barbuda is a stable country with eight international banks. There is just one drawback: they are hard to access as they almost never work with potential clients directly. We have a local partner who can be your reliable intermediary if you are interested in opening a bank account in Antigua remotely.

Belize is our favorite. It is a real banking haven with a good legal framework and a wide range of services. Caye International Bank, the institution we usually recommend to our clients, provides high-class services to individuals and legal entities. In fact, you will get the same services as in Switzerland for a much lower cost!

Dominica is a destination we no longer recommend. Our experts have been experimenting with Dominican banks for several years and found the experience too risky. There were unpleasant situations when the banking license was never renewed, resulting in losses. Dominica used to be good, but we would not opt for it in 2022-2023.

St. Kitts and Nevis are not on top of our recommendations list, either. The country’s banking system is not experiencing the best of its times, but we still have one bank where we can open an account for you: the International Merchant Bank. It is quite conservative and does not onboard new clients very quickly, but we can manage it for you. It is not crypto-friendly, though, so consider other options for crypto transactions.

St. Lucia is a jurisdiction with 14 banks, but only some of them are active. We usually recommend the oldest and the most reliable institution, Proven Bank, which offers quick inbound and outbound wire transfers and boasts a flawless reputation. This bank is not for you if you need an account urgently: the institution is highly conservative and takes a month or two before giving approval.

Some of our clients need a crypto-friendly bank, and this is where two jurisdictions come to the rescue: Antigua and Nevis. However, if you have some large-scale crypto projects in mind, like an ICO or setting up your crypto exchange, Caribbean banks will not be of much help. Anyway, talk to a consultant to assess your crypto needs, and you are sure to find a solution.

All in all, the Caribbean banks are definitely worth your attention. You may find an offer with world-class services at a much lower cost than, for instance, in some highly respectable jurisdictions like Switzerland. What you really need is to find a competent expert who knows the current situation well enough to help you make the right choice, and we at International Wealth portal can give you all the latest information at a personal meeting.

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