Good offers tend to be volatile: they come and go. This applies very well to banking services in the Caribbean: the jurisdiction or bank we recommended last year may not be on the list of best options this year. We at Offshore Pro Group closely monitor all current tendencies in the Caribbean banking services market and recommend only the banks that proved to be good.
In this post, we present the ranking of Caribbean jurisdictions made by our experts. We open personal and corporate accounts using a network of local agents. Good Caribbean banks rarely agree to work with the clients directly and get them from ‘reliable sources,’ like intermediaries. Look at the ranking below, or read our detailed guide on Caribbean banking.
- The jurisdiction we highly recommend is Belize. Why is it? Our clients get high-quality services here (like in Swiss banks) at a much lower fee. This banking haven offers favorable laws, stability, and reliability. The institution of our choice is Caye International Bank.
- St. Lucia takes second place with one nuance: we recommend only one reliable institution, Proven Bank. Not all of St. Lucia’s 14 banks are active, but Proven Bank deserves special attention: it is a well-reputed and well-maintained institution that boasts quick wire transfers in and out. However, Proven Bank is not an organization that opens an account quickly: you may have to wait for 1-2 months.
- Antigua and Barbuda has its own independent legal framework regulating its eight international banks. In fact, the banking sector is a pillar of the Antiguan economy and receives a lot of attention. However, banks prefer working with local agents who recommend clients to them, so there is no way you can contact a bank directly. This is the reason we have a representative on site who opens accounts for our clients.
- The banking system at St. Kitts and Nevis is not experiencing the best times, but our experts can still recommend one bank to you: International Merchant Bank. It is quite a conservative institution, so don’t expect the procedure to be completed quickly. They choose clients very meticulously, but you can be sure of the result if you rely on our expert help. The International Merchant Bank does not work with crypto, so use it for regular currencies only.
- We cannot end our narrative without mentioning Dominica, and this is not the jurisdiction we would recommend in 2022-2023. Its banks were good some time ago, but then our clients lost their money several times – just because the banking license was not extended. We consider it too risky to open accounts in such turbulent conditions and temporarily suspend this destination.
As you see, there are excellent banking destinations that may be of interest to you. The situation changes quickly, so it is always better to address our experts at Offshore Pro Group for the latest updates. We select a bank on a case-by-case basis, using some general details about the purpose of the account, your counterparties, and so on.
Finally, if you deal with crypto, you will surely need to talk to an expert as there are very few crypto-friendly banks in the Caribbean. The existing ones will not offer you the range of services comparable to, for example, Singapore. If you are planning an ICO, look for other options. However, if the volume of transactions is not that large, we will find a Caribbean institution to suit your needs.
Visit our portal for more information and do not hesitate to contact our team of real professionals!