How can we help your company open a corporate bank account?
We work with a broad range of banks within the Latin American and Caribbean region and can work with you to ensure your banking needs are met.
Our Bank Account Opening Services
As your business expands, you may need to embark on international expansion, including incorporating foreign companies and setting up local payrolls. And for such, you will need to open a local corporate bank account, which can be complicated and time-consuming, especially with understanding local requirements and regulations, and often in a foreign language. At the Biz Latin Hub group, we can assist you with opening a local bank account. We can advise on local banking requirements and regulations based on our extensive local presence and understanding.
Biz Latin Hub Group supports our clients with corporate bank account opening services within Latin America and the Caribbean.
After understanding your business and its needs, our local banking experts will advise on suitable banks and jurisdictions which you may wish to consider.
We are your one-stop shop for bank account opening needs in Latin America and the Caribbean!
Know Your Client (KYC)
This is where we get to know you and is a process of identifying and verifying the client’s identity when opening a corporate bank account. This is an important process and will help to expedite the bank account opening process.
Bank Account Advisory
We will understand your business and guide you with the right bank selection to meet your banking needs. Here we will ask you questions about your planned banking, your business activity, the Ultimate Beneficial Owner (UBO) and your expected bank transactions
Bank Account Application
We will work with you to prepare the bank account application and ensure it meets the bank’s needs. We will then submit the bank account opening application to the bank. During this stage, our team will engage very closely with the banks on your behalf to ensure bank account opening success
Application Monitoring
We will monitor and follow up regularly with the bank until the process is completed. Once approved, our local banking team will ensure that everything is in place, including the provision of banking tokens and coordinating the initial bank account opening deposit.
More information on how to open a bank account
Frequently Asked Questions on Banking
Here are some commonly asked questions on how to open a bank account in Latin America and the Caribbean.
What do we need to know from you?
- What do you want from the bank account?
- What is your business activity?
- Who are the ultimate beneficial owners (UBO) of the account?
- What are the expected incoming and outgoing transactions?
- What language do you need for the online banking platform?
Do I have to travel to open the Bank Account?
Most banks will require the following documents at a minimum during the corporate bank account opening process:
- Certificate of Incorporation
- Memorandum & Articles of Association
- Certificate of Good Standing
- Recent Financial Statements
- Bank Reference (if applicable)
- Passport and Proof of Address for all shareholders and directors.
- Summary of company business activities and plans
- Summary of expected value/ volume of transactions
Depending on the bank, additional documents and/or supporting information may be requested.
Do I have to travel to open the Bank Account?
In most cases, we will be able to provide non-travel bank account opening solutions for our international clients.
If it is mandatory for a face-to-face meeting, we will work with you to ensure the logistics are coordinated and meet your availability requirements.
What our clients say
We relied heavily on the Biz Latin Hub Group to establish our local corporation and the bank account opening process. The bank account opening process was fast and efficient; their application preparation and monitoring services exceeded our expectations.
-Luis Alvarez, KMT Country Manager
WHAT MAKES BIZ LATIN HUB DIFFERENT?
Your Local Partner
We can provide you the complete, fully-integrated and tailored back office, PEO and entity incorporation solution
Your Need is Our Focus
We know one size doesn’t fit all – we will work with you to understand your business needs and to provide a personalized market entry and back office solution
Globally Minded & Local Expertise
Trust our local team of lawyers and accountants to establish your business, form your legal entity, hiring employees and legal entity compliance
Communication at its Best
English, Spanish or Portuguese – Our local and expatriate team of accountants and lawyers can support you in multiple languages
Ready to get started?
Reach out to our team of experts to start banking across Latin America and the Caribbean