Banks

It’s important to choose a reliable bank to buy property, make a contribution to a fund or open a business account in the Caribbean. But it is difficult to assess the banking system in isolation from the investment climate in the region. In the article, we will talk about the top banks in the eastern part of the Caribbean coast and financial institutions that regulate and support the economy of the region.

Lyle Julien

Rating agencies and financial magazines estimate banks to choose the most reliable ones for individuals and companies. Global Finance, an American financial magazine, assesses banks that work worldwide and are suitable for foreign investors. In 2022 it estimated banks from 150 countries. The list of winners was based on how banks performed in the previous year and such criteria as reputation, management excellence, and leadership in digital transformation. Read on to discover the list of reliable banks for investors.

Albert Ioffe

There are 18 banks in Grenada, among which 3 are well-known. The remaining 15 can hardly be called reliable, including microfinance organisations. Banks serve individuals and legal entities, open accounts remotely and provide access to online banking. Maintenance of settlement accounts, on average, is 5 US dollars per month.

Lyle Julien

More than 20 local and international banks are operating in Malta. Foreigners with Malta residence permits can open bank accounts in any of them: to do it, they should usually provide an ID, proof of an address in the country and other documents. The requirements, costs and application processing time depends on the bank itself.

Vladlena Baranova

More than 150 banks operate in Portugal. They provide financial services to individuals and businesses. Unlike most EU countries, where third-country citizens are likely to be denied opening an account, Portuguese banks are more favourable to non-residents. The average rates on consumer loans in Portuguese banks are 3.9% per annum and on mortgages — 3.3%. A new car can be bought on credit at 5%, and a used car at 11.8%. Learn how the Portuguese banking system works, which banks are the best, and how a foreigner can open a current account or take a mortgage to buy a house.

Eymi Castro

There are 34 banks of St Lucia. 10 of them are members of the Association of Caribbean Banks, which brings together the most reliable financial institutions in the region. All major banks offer bank St Lucia online banking and an account can be opened remotely.

Lyle Julien

The banks operating in St Kitts and Nevis offer their clients current, settlement, savings, trading and escrow accounts, as well as term deposits . Clients can also apply for mortgages, as well as educational, automobile, business development, and other types of loans. All the main banks offer clients online banking and mobile applications to manage their accounts.

Lyle Julien

St Kitts and Nevis has 15 banks, three of which are members of the Caribbean Association of Banks and are considered to be among the most reliable ones. All the major banks offer free online services.

Lyle Julien

There are 5 licensed banks operating in Vanuatu, which offer an online banking service each. Chequing and savings accounts, time deposits, debit cards and loans are available for clients. Account maintenance costs from $2 per month.

Lyle Julien

56 reliable banks operate under government control in Turkey. Opening an account in these banks is available for foreigners. The documents that must be provided while opening an account are standard. However, the process of opening an account may differ from one bank to another. How to choose a bank and what documents are required from a non‑resident to get a bank card in Turkey, told the Immigrant Invest expert.

Vladlena Baranova

There are 35 independent countries in the Caribbean. Each country has its own state bank and branches of other banks. Immigrant Invest will explain on what conditions investors can open an account in a Caribbean bank and how much it costs.

Lyle Julien

There are 36 banks in Greece: national, foreign and EU banks, which operate under a single licence. Investors and cosmopolitans open accounts in Greek banks to use money abroad, receive dividends from foreign companies, and save money. A foreigner can obtain a residence permit in Greece if they open a bank deposit of €400,000 or more. Opening a bank account in Greece as a foreign resident is possible if you come to the branch in person. A new client needs to justify the purpose of opening an account and pass the bank’s Due Diligence.

Julia Loko

Grenada is a small Caribbean island nation, ranked tenth in the list of the smallest countries in terms of area. At the same time, 18 banks operate in the country, including national banks of Grenada and branches of international banks.

Lyle Julien

Foreigners with residence permits can open any bank account in the UAE. The process is relatively simple and can be done entirely online. Non-residents have to come to the bank in person, prove their compliance with the strict requirements of anti-money laundering legislation and provide more documents, including: - a passport copy; - bank statements from the country of residence; - utility bills indicating the payer and the address; - written explanation of the purpose of account opening.

Zlata Erlach

St Lucia is a small island nation in the Caribbean. Citizens and residents of the country can use the services of local and international banks, including European and Canadian banks.

Lyle Julien

There are about 10 banks operating in Dominica, four of which are members of the Caribbean Association of Banks and, thus, are considered more reliable. Most banks offer online banking, though some do not work with foreign clients.

Lyle Julien

Antigua and Barbuda has at least 5 reliable banks. They serve not only locals but foreigners too. For current account maintenance, customers pay $7—10 per month. Learn more about servicing terms to choose the most suitable bank.

Lyle Julien