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Bank Account Opening

As your business expands, you may find you embark on a local incorporation process or need to set up local payroll and employee benefits and other critical activities in a new jurisdiction. To do this, you need to open a bank account, which can be a complex and time-consuming exercise – especially in an overseas market. ​

At Vistra, we can recommend banks and assist you in setting up your local bank accounts. We can also advise on banking requirements – covering elements that may not be supported by global banks due to language or regulatory issues.​

As part of an accounting or administration service, we can also provide cheque signatories and operate local bank accounts on your behalf. If you don't have your own bank account in a certain jurisdiction, we may be able to offer a local trust/client money bank account operated on your behalf as part of an accounting or administration service.​

If you're working across borders, you may require a globally coordinated accounting solution with common processes and controls. 

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BVI companies may be used for many reasons, including as special purpose, operational or transactional vehicles, and there may come a time when the company is no longer needed.
In August 2023, the US Securities and Exchange Commission adopted new rules and amended others to enhance the regulation of private fund advisers. According to the SEC, the changes are “designed to protect private fund investors by increasing transparency, competition and efficiency in the private funds market.”
Any organisation that conducts cross-border transactions may at some point need to engage a process agent.
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