Open a Private Bank Account in Saint Lucia Remotely

If you’re an international entrepreneur, wealthy individual, or frequent traveller, capital storage and protection, and legal currency management overseas can be challenging. However, there is a solution if you choose a well-known bank in the island jurisdiction of St. Lucia, with our experts’ help at every step of the process.

Saint Lucia is a tropical island nation in the Windward Islands of the Lesser Antilles, part of the West Indies, between the islands of Martinique and St. Vincent. The jurisdiction is washed by the Caribbean Sea and the Atlantic Ocean. However, it’s more than just a beautiful location.

Saint Lucia specializes in tourism and the provision of offshore services, including banking services for international private and corporate customers. A non-resident can open an account online without a personal visit to the island by seeking the assistance of experts from the International Wealth portal. Need an international bank account? Talk to our experts in a free, 15-minute call, or book a full 1-hour paid consultation for tailored banking solutions (currently 300 euros, reduced from 500).

Legal System of the St. Lucian Financial Sector

Our partners and experts cooperate with a bank that is subordinated to the Financial Sector Supervision Unit of St. Lucia, the South Caribbean Central Bank. The financial institution carries out its activities in accordance with international practices and has correspondent relations with financial institutions all over the world.

The banks of the jurisdiction adhere to the norms of automatic information exchange (AEOI) with other countries as part of the common reporting standard (CRS). Saint Lucia is a party to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) in November 2016 (source: Inland Revenue Department (IRD) of Saint Lucia).

Banking Services for Private Foreign Customers

In brief, a personal account in St. Lucia allows you to protect and diversify assets and access capital in different currencies. But, there is more to it. The services of the financial institution include:

• Multicurrency accounts and foreign currency exchange. The bank operates with 14 currencies (USD, EUR, GBP, CAD, CHF, AED, AUD, NOK, NZD, SEK, THB, HKD, JPY, ZAR).
• Fixed-term deposits for a term from seven days to one year at an attractive interest rate.
• Visa credit cards that you can use in more than 100 countries.
• Online banking for safe and simplified asset management. You get a special device, TOKEN, to access your account.

You also receive the following as part of the banking services:

• Assistance from an official provider of financial, offshore, and local banking services, as well as general insurance.
• The ability to preserve and increase savings.
• Financing commercial and personal credits.
• Capital protection.
• Asset management online 24/7.
• Professional support from the bank’s consultants and managers.
• Access to the multicurrency account from any part of the world..

Customers can receive services in different languages, but the main language is English. Customers may also request to be serviced in Spanish, French, Portuguese, or German.

Personal Account in the St. Lucian Bank: Rates

We can provide an overview of the pricing, but, of course, things can change. You can ask our experts for updated information regarding the costs of opening/closing and maintenance of a personal bank account in St. Lucia. 

Account Maintenance

• Account opening: 250 USD
• Accounts for special-purpose operations (buying real estate, selling/buying a business, etc.): 0.5% of the transaction amount, minimum 1,000 USD
• Monthly maintenance: 15 USD
• Monthly maintenance of the second and subsequent accounts opened with the same bank: 7.5 USD
• Account closure within 6 months after opening: 300 USD.

Multicurrency payments are made through the international SWIFT system within 24 hours. The minimum deposit/balance is 5,000 USD. If the balance is below 5,000 USD, a commission of 35 USD is paid.

Payment Rates

• Outgoing payments:
  • From 0.01 USD: 40 USD
  • From 10,000 USD: 50 USD
  • From 50,000 USD: 75 USD
  • From 100,000 USD: 100 USD
  • From 1,000,000 USD: 200 USD
• Incoming transactions: 15 USD
• Internal transfers: 5 USD
• Manual wire transfers (those not sent through the eBanking platform): an additional commission of 25 USD per transaction
• Issuing international checks: 100 USD + 0.05% of the transaction amount for transfers of 5,000 USD and more
• Issuing checks in the EU: 25 USD
• Cash withdrawal up to 5,000 USD: 50 USD
• Credit card operations: 15 USD per transaction

Foreign Currency Conversion and Other Administrative Expenses

Currency is exchanged at market rates. Commissions of the St. Lucian bank:

• Up to 200,000 USD: 1%.
• From 200,000 to 1 million USD: 0.75%.
• 1 million USD and more: 0.5%.

The bank takes an additional commission of 15 USD for courier delivery services.

Foreign customers can also use the translation services at a rate of 20 USD per page.

Procedure of Personal Account Opening in the St. Lucian Bank

1. Express your interest: The first step is to decide that you want to open a personal account with a St. Lucian bank. Contact our team to receive expert guidance and a full overview of the process.
2. Make the payment: To proceed, you’ll need to pay for the account setup service. The fee is EUR 2,999 and can be paid via PayPal, Western Union, WebMoney, or wire transfer.
3. Prepare the required documents: You’ll need to provide the following:
   • A completed bank application form
   • A notarized copy of your passport
   • Proof of residential address
   • A professional reference letter
4. Access your account: Once approved, you’ll receive access to your online banking and other financial services provided by the bank in Saint Lucia.

Ready to get started? Do not hesitate to contact our experts for a consultation on banking services for individuals and legal entities on the island of St. Lucia. Remember, you can choose a free fifteen-minute session to get some questions answered or an overview, or a paid one-hour meeting with an expert in offshore banking (300 euros, reduced from 500 for a limited time) to find a unique solution for you and learn how we can help.