The simple answer to this question is YES however we need to note the below criteria:-
- Connection to the island – you must have a connection to the island in the form of a purchased property in your personal name. If the purchase of the property took place in a holding company then you need to show ownership of that company in order to satisfy this requirement.
- Immigration Status – you either have citizenship, a Welcome Stamp or a Work Permit. Please note based on the one you can satisfy under this criteria your bank account may have an expiry date at which time you have to show renewal of your permission to stay on the island. E.g. Right now the Welcome Stamp runs for at least 2 years and as such the ability for you to satisfy this requirement will expire after the 2 years.
Now that you have fulfilled the requirement what is the list of required documents:-
- Two forms of Government Issued Identification – please ensure it is not expired. This should be supplied for each bank account applicant.
- Proof of Address in the form of a utility bill or a bank statement no older than 3 months. Please make sure this document has both names of the proposed applicants of the bank account.
- Proof of Income – Last personal income tax returns for each bank account applicant.
- Bank Reference Letter from your primary bankers. This letter just needs to state you have a relationship with them and confirm it is satisfactory. All proposed bank account applicants need to have their names on this document.
- Contact details – email addresses and telephone numbers for each bank account applicant.
At times based on your situation the Bank reserves the right to request additional information to satisfy their requirements under Know Your Client procedures. If you have any further questions please do not hesitate to contact me.
I hope you found this article interesting, until next time LinkedIn family take care and God Bless.
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If you have any questions please do not hesitate to contact us at support@afbconsultingservices.com