Bank Account Services

 

 

Opening and maintaining bank account for your Labuan Company, Foundation, Trust or other entities is an important component of your business development, asset protection or tax planning strategy. A bank account in foreign bank is also  a crucial part not only of international business, trade financing but also of the financial ownership structure of any successful business.

 

However, the establishment of a company bank account sometimes involve a lengthy process requiring completion of the bank’s documentation, verification of authorised signatories, provision of due diligence information and passing of appropriate company resolutions. Additionally the provision of internet banking facilities requires further procedures. Most of the banks in Labuan IBFC and some overseas banks may require face to face meeting with the director(s)/ beneficial owner(s)/ authorised signatories to consider the approval of bank account. Due diligence procedures may change continuously 

 

Our team of qualified professional can assist in the opening of bank accounts for companies or entities upon customers’ needs. We offer assistance in opening bank accounts as well as referrals to banks, enabling global investors to access high-tech and modern financial services. We work closely with local and  international respected offshore banks, including the largest international bank in Malaysia, in assisting our clients with their offshore banking requirements.

 

We personally supervise the opening process to make sure that all necessary documentation is processed in a efficiently manner. We've developed a method to make it greatly easier for our customers to open and maintain the bank account. We have stable, well-established connection with most of the bank and all the capability and expertise to help make the process of opening a bank account a reasonably simple exercise.

 

An international/offshore  bank account is an account opened in a jurisdiction that is outside of the country of residence of the account holder. The accounts are opened for financial and legal reasons, where the benefits of opening an offshore facility are appealing to consumers and companies worldwide. The reasons for opening a bank account are : greater privacy, low or zero taxation, and protection against potential local political and financial instability experienced in your country of domicile. With the introduction of internet banking and internationally accepted debit cards and credit card, banking-overseas is far easier than it used to be.

        

 

Our Banking and Opening of Bank Account Services:

 

  • The banking services offered include, but are not limited to:

  • Opening of Bank account for Labuan entity such as Labuan Company, Labuan Trust or Labuan Foundation

  • Application of Internet banking with the added security of a digital code generator (token device)

  • Application of Debit and credit cards

  • Opening of Current accounts, deposit accounts, notice accounts and so on.

  • Opening of Multiple currency accounts

  • Arrangement for Loan and overdraft facilities

  • Application for Private banking services

  • Arrangement and application for   International factoring

  • Maintaining of Escrow account services

  • Arrangement Direct debits and standing orders

 

 

Which bank

 

We can assist you to open bank accounts with Major Bank in Malaysia such as Maybank, CIMB Bank, HSBC Bank, Kuwait Finance House and as well as other jurisdiction such as Singapore, Hong Kong, Jersey, Panama, Seychelles or Germany. Nevertheless, should you wish to open a bank account in another country, we can offer you a number of alternative banks from the EU, UAE, Belize, BVI and Cayman. However, as a licensed corporate service provider, we can help you open an account with any bank located anywhere in the world provided that you can satisfy their minimum requirements and conditions.

 


Opening of Bank Account Application

 

Once you have decided with which bank you wish to open an account, we send to you the completed bank account forms together with others relevant documents and forward them to the bank. However prior to the above you are required to provide us with the information which maybe require by the bank. For company bank account the Bank may require the details of your company and some information regarding its business activities of the companies or business plan, however for a personal bank account the information mainly consists of your personal details.

 

 

Application Process and Opening of Bank Account

 

We will send the completed application form together with the required documents to the selected bank. The bank will review the completed application form and the submitted documents and if they are satisfied with the information stated therein they will prepare and notify us via letter or email regarding the confirmation of the opening of the bank account and request deposit to activate the account. The letter "bank account details" contain the details of the entity or your bank account. Once the bank account is funded with sufficient funds the bank will issue the email of account activation. Upon approval of the main account and the internet banking application, the bank may issue an online banking access credentials together with the token devices and the debit cards requested.

 

 

Important Note: Please note that this notes is intended to provide you with some general information regarding opening bank accounts using our services and it should not be considered as banking or financial advice. The actual account opening process, the information and the documents required may vary from bank to bank. Each bank has its own conditions and minimum requirements to open bank accounts. Applications to open bank accounts not meeting these conditions and requirements might be declined.

 

 

 

 

For more information kindly contact us at info@zrctrust.com for free initial consultation without any obligation. We are more than happy to help you in any way we can.