How to Do Overseas Banking in Saint Lucia?11 min read

How to Do Overseas Banking in Saint Lucia?11 min read

Overseas banking in Saint Lucia allows individuals and companies to bank globally and still enjoy the anonymity and asset security of this Caribbean country. 

Saint Lucia’s central location in the Caribbean and the fact that its offshore financial sector is internationally regulated makes it an attractive location for foreign banking.

Although you can still get brick and mortar banking, an offshore bank account online lets you keep track of your global assets from almost anywhere in the world. 

The Kingdom Bank is one of the digital banking companies offering this service. In this post, we are going to learn how to open an overseas banking account in Saint Lucia on The Kingdom Bank and what you can do with it.

How to Open an Overseas Banking Account in Saint Lucia?

You can even open an overseas bank account in Saint Lucia by phone or from a tablet if you have the right partner bank. Here are the basic steps:

• Choose an offshore online bank– The best way to open an account abroad is to use a fully digital bank such as The Kingdom Bank which accepts non-resident accounts.
• Fill out an online application – Most digital offshore banks, such as The Kingdom Bank, provide a simple application on their website. You’ll need to submit simple KYC (know your customer) forms, such as a passport photo.
• Identity verification – The bank will verify your identity electronically, without you being present in Saint Lucia. The Kingdom Bank streamlines this process.
• Pay for your new account – After approval, you can fund your new offshore Saint Lucia bank account via wire transfer or cryptocurrency deposit from your existing international bank.
• Access your funds and payments from anywhere in the world using your account – You’ll receive online banking login details and a debit card (if available).

Getting an offshore account through an online bank means you don’t need to visit Saint Lucia in person. You can generally finish the entire application in less than a week.

What Transactions Can Be Done With a Saint Lucia Overseas Banking Account?

From your account at The Kingdom Bank, you can enjoy the following banking and payment services for personal and commercial use:

• International wire transfers – Transfer money across the world in multiple currencies. The Kingdom Bank has correspondent banking relationships all over the world for lightning deposits and withdrawals.
• Pay with debit/credit cards– Shop online and offline using virtual or actual debit cards issued on your The Kingdom Bank account.
• Pay bills – Invoice utilities, services, or tuition directly from your account.
• Crypto trading– The Kingdom Bank also provides crypto banking, in which you can deposit, trade, and store Bitcoin and other digital assets with your fiat accounts.
• Online banking – Monitor balances, see statements, and handle your finances on The Kingdom Bank website or mobile application.
• Escrow services– The Kingdom Bank can set up an escrow arrangement for a property purchase, crowdfunding event, or any other multiparty arrangement that requires a third party.

Whether you need money transfer abroad, investment services or bill payment, an overseas banking account at The Kingdom Bank ensures access and ease for your personal and business finances.

Who Can Open an Overseas Offshore Banking Account in Saint Lucia?

In most cases, anyone over 18 can open an overseas bank account in Saint Lucia, irrespective of nationality or place of residence. 

But some digital banks, such as The Kingdom Bank, might require more:

• Residents and citizens of sanctioned countries – The entry of residents and citizens of sanctioned countries, such as OFAC, may be restricted.
• Politically exposed individuals – Additional due diligence applies to government officials and family members.
• Funding – Applicants must demonstrate a proven source of funds (pay stubs, tax returns, etc.
• Start Deposit– In most cases, banks only ask you to deposit $1000-5000 into an account in order to open it.

Anyone, anywhere in the world, can open an offshore Saint Lucia bank account provided that you comply with the minimum age and identification norms, undergo the banks’ verification, and deposit the necessary funds.

Do You Need to Be a Citizen to Open an Overseas Banking Account in Saint Lucia?

You do not have to be a citizen or resident of Saint Lucia in order to open an overseas bank account there. 

The Kingdom Bank and other digital offshore banks are particularly geared towards non-residents by making it possible to open accounts from anywhere, without going in-person.

While there are brick and mortar banks in Saint Lucia that do require customers to open accounts in person, an online bank makes the entire process very easy for foreign customers. It doesn’t even matter if one is a citizen if you meet the basic KYC and screening requirements.

Nor does having an out of country Saint Lucia bank account entitle one to any special citizenship or residence privileges. It simply facilitates the use of Saint Lucia’s favorable offshore banking framework from overseas for wealth management and global banking.

The Easiest Way to Open an Online Overseas Banking Account in Saint Lucia

For those looking for the simplest option, The Kingdom Bank is the ultimate option to open an overseas Saint Lucia bank account from anywhere in the world through the internet. Here are some key advantages:

• 100% electronic application – No documents need to be mailed/faxed. Simply submit the form online.
• Quick approval – Most of the applications are approved within 2 working days through electronic verification systems.
• Remote account creation — Check out your new account information online the moment it is approved from any location.
• Modern banking – Get your debit card, wire transfer, bill pay, investments, crypto, etc done through an encrypted platform.
• Customer support on a global scale – Customer service is available 24/7 through phone, email, and live chat to support customers across the globe.
• Cost-effective – No/low maintenance, free wire transfers, and competitive currency conversions.

Getting an offshore bank account at The Kingdom Bank enables you to access Saint Lucia offshore benefits without leaving the country with just a few clicks. 

It’s still the most simple way to run international finances from overseas, online and safely.

With the establishment of an overseas banking relationship in Saint Lucia through The Kingdom Bank’s online platform, opportunities to manage global wealth and payments are endless. 

No residency required, and it takes days to open an account at home. The Kingdom Bank offers the obvious way to bank internationally from anywhere abroad.