Banks

Offshore Banking Domicile of Choice Turks and Caicos TCI Links

Home
Financial Services
Establish Account
Request Information

Barnett 
and Associates

Barristers
Attorneys-at-Law

Copyright / Patent
Trade Mark Agents

Specializing in Offshore
Banking and the Creation of
Offshore Companies 
and Tax Shelters

TAINO PLACE
Suite 202
(Old) Airport Road
P.O. Box 45
GRAND TURK

TURKS AND CAICOS ISLANDS

PH: (649) 241-5043
A FAX Number will be provided
upon request.

info@barnett-and-associates.com

  Hit Counter

Up
Banks
Companies
Building Societies

Banks

When establishing a bank, the practical considerations are the capitalisation requirement, which is a minimum of $500,000, legal fees of $10,000, and the structure of the bank.

The Banking Ordinance 1979 (as amended by the Banking [Amendment] Ordinance 1989) S.3 defines "bank" as "bank means a person carrying on banking business", and "banking business" under S.2 of original ordinance was defined as "... the business of accepting deposits or money which may be withdrawn or repaid on deposits in whole or in part by lending or any other means for the account and at the risk of the person accepting such deposits."

Since "banking business" is defined conjunctively and one of the elements being "banking business" is that the account is at the risk accepting, then, conversely, if the account is not at the risk of the person accepting, this would not be "banking business" as legally defined in the Turks and Caicos Islands.

Barnett and Associates specializes in the creation of tax shelters and other offshore work and is based in the Turks and Caicos Islands. No illegal moneys are being sought, and a due diligence verification is required.

In addition to helping our clients establish a bank in the Turks and Caicos Islands, we can assist in developing other options that may also be useful. These include a cost-effective holding company, and a vehicle which we have found, in the form of a Building Society. We here outline the differences, and will quote fees on request.

We work with our clients to consider any of these options. Feel free to revert to us with any questions.

 

Barnett and Associates
Barristers / Attorneys-at-Law
Copyright / Patent / Trade Mark Agents

TAINO PLACE, Suite 202, (Old) Airport Road
P.O. Box 45, GRAND TURK

TURKS AND CAICOS ISLANDS

PH: (649) 241-5043 - FAX: A FAX number will be provided upon request.

Courtenay Francis Raymond Barnett
B. Sc. (Hons) London
Barrister-at-Law (Lincolnís Inn)
Attorney-at-Law
Turks and Caicos Islands
Jamaica

Senior Consultant:
Delano Harrison Q.C.
Attorney-at-Law
Jamaica

General Information: info@barnett-and-associates.com
Webmaster: admin@barnett-and-associates.com

Home ] Up ] Offshore Banking ] Domicile of Choice ] Turks and Caicos ] TCI Links ]

Copyright © 2005 Barnett and Associates