Bank Account Opening in St. Vincent & Grenadines

Non-residents can open a bank account in Saint Vincent and the Grenadines, including from abroad. The local banks publish checklists for overseas applicants that are longer than those for residents. A St Vincent bank account opening is an application, not a purchase: the bank runs its own anti-money-laundering checks and can decline without giving every reason. We prepare the pack the bank asks for and stay on the application until the bank opens the account or declines it.

Documents banks commonly ask for

The Bank of Saint Vincent and the Grenadines' account opening requirements for non-resident personal accounts are a good guide. They include:

• A notarised copy of your passport and a second government-issued photo ID
• References from your overseas bank
• Proof of your permanent and mailing address
• Proof of employment or income
• A police character reference
• Recent bank statements
• Tax returns from previous years

Copies sent from abroad should be notarised, and the bank can ask for the originals to be seen. Banks in the country apply the OECD Common Reporting Standard and FATCA, so you also complete a tax-residency self-certification, and US persons complete the US forms.

Sending documents from abroad

BOSVG accepts the completed forms and certified documents from overseas applicants without a branch visit, by email or fax, though originals or couriered copies can still be requested. Other banks, such as the St Vincent Co-operative Bank, have their own savings-account requirements. We confirm the current process with the chosen bank before you notarise anything, because notarisation fees add up across a long checklist.

The police character reference

Unlike many banks in the region, Vincentian banks may ask for a police record. This is usually a certificate from the police in your country of residence, and it may need an apostille or a certified translation. If you hold Vincentian citizenship, see our police clearance certificate service.

Account types and currencies

Banks offer savings and chequing accounts in Eastern Caribbean dollars (XCD), which are pegged to the US dollar, and US-dollar accounts at some banks. Each account has its own minimum opening balance, set by the bank. Company accounts need the incorporation documents, the registers of shareholders and directors, a board resolution, and identification and references for every director, signatory, and beneficial owner.

Why applications get delayed or refused

• Copies that were not notarised before being sent
• A police record or bank reference that is older than the bank accepts
• Tax returns or statements that do not support the funds you plan to deposit
• A purpose for the account that is vague
• Missing tax-residence (CRS/FATCA) forms

Most of these are fixed before submission. That is the main reason to prepare the pack before the bank sees it.

Related to your application

A local account is often opened alongside other paperwork. If you hold or are applying for Saint Vincent and the Grenadines citizenship by investment, the bank can ask for your certificate of registration or passport as part of its checks. You can browse every Saint Vincent and the Grenadines service, including company incorporation, passport renewal, and the police clearance certificate.

• A check of which bank in Saint Vincent and the Grenadines will consider your nationality, residence, and planned use of the account
• A document checklist built from that bank's current rules for non-residents
• Review of your passport, second ID, proof of address, references, and source-of-funds papers before anything is sent
• Help arranging notarised or certified copies, apostilles, and translations when the bank asks for them
• Preparation of the bank's application, signature, and tax-residence (FATCA/CRS) forms
• Submission and follow-up with the bank, including answers to its compliance questions
• A clear note in advance if the bank wants a branch visit, a video call, or more documents
• For companies: preparation of the corporate pack (incorporation documents, registers, good standing, ownership chart, board resolution)

1. Brief. Tell us who the account is for (you, your family, or your company), where you live, the currencies you need, and what the account will be used for.
2. Bank match. We identify a bank in Saint Vincent and the Grenadines that accepts your profile and confirm its document list, whether it needs a visit, and its opening deposit and fees. You then receive our quote.
3. Document pack. You send scans; we check them, arrange notarised copies, references, or translations if needed, and fill in the bank's forms with you.
4. Submission. The signed forms and certified documents go to the bank, by courier where originals are required.
5. Compliance review. The bank runs its due-diligence checks and may ask follow-up questions about your income, assets, or planned transactions. We help you answer them.
6. Account opened. The bank confirms the account number and you fund the opening deposit. Cards and online-banking access follow on the bank's own timeline.
7. After opening. Keep your details up to date: banks ask account holders to refresh identification and address documents from time to time.

You receive a quote before any filing starts. It separates the CitizenX fee from the bank's opening deposit and charges, notarisation, apostille, translation, and courier costs. Those extras are added only when they apply, and only after you approve them.

Minimum opening deposits and monthly fees are set by each bank and differ by account type, so we confirm them with the chosen bank before you apply.