Yes, you can open a USD business bank account for your BVI company — fully remotely, with no US entity, no US co-founder, and no five-figure minimum deposit. Hollis & Co. provides FDIC-insured USD accounts for BVI-incorporated businesses through Column N.A., Member FDIC.
Why BVI companies need a USD bank account
Most BVI companies operate internationally and invoice clients in USD — from US-based customers paying via wire or ACH to SaaS platforms requiring a USD-denominated payout account. Without a functioning USD business account, you can't receive payments from Stripe, bill US clients cleanly, or separate business funds from personal accounts. A real USD account under your BVI entity is the foundation for operating like a legitimate business.
The problem with traditional banks
Opening a bank account for a BVI company has become significantly harder over the past decade. Global de-risking hit offshore jurisdictions hardest, and BVI sits near the top of that list.
- Outright rejections: Major US and UK retail banks routinely decline BVI entities at the application stage, before any review of your business.
- Private banking minimums: Banks that do accept BVI companies typically sit behind private banking desks, where minimums start at five figures and often much higher.
- Remote opening is inconsistent: Some banks advertise remote account opening for BVI entities but require in-person verification at some point — often without disclosing this upfront.
- Director presence required: Certain correspondent banks and offshore institutions require at least one director to appear in person for ID verification.
- Prolonged due diligence timelines: Even when accepted, expect weeks of back-and-forth documentation requests with no guarantee of approval.
What documents you need
- 1Certificate of Incorporation and Memorandum & Articles of Association (M&AA)
- 2Certificate of Good Standing (typically dated within 3–6 months)
- 3Register of Directors and Register of Members (shareholders), including beneficial ownership information
- 4Government-issued photo ID and proof of residential address for every director, shareholder, and authorized signatory
- 5Clear business description: what the company does, who it invoices, what products or services it sells, and how money flows in and out
How to open a USD account for your BVI company
- Gather your corporate documents. Ensure your Certificate of Good Standing is current and that your M&AA and registers are up to date.
- Prepare KYC materials for all individuals. Collect passports and recent proof of address (bank statement or utility bill within 90 days) for every director, shareholder, and signatory.
- Apply with Hollis & Co. Submit your application fully remotely — no branch visit, no in-person verification, no requirement for a US co-founder or US entity.
- Get approved and start banking. Complete applications are typically reviewed in days, not weeks. Once approved, your USD account is ready to send and receive wires, pay vendors, and connect to payment platforms.
How long does it take?
Traditional banks — when they accept BVI entities at all — typically take 4–12 weeks from initial inquiry to an open account, with frequent documentation follow-ups and no guaranteed outcome. Hollis & Co. processes complete applications in days. The most common delay is incomplete documentation on submission; having all required documents ready before you apply keeps the timeline short.
How much does it cost?
Hollis & Co. charges a $750 setup fee and a $750 annual fee for BVI companies. There is no minimum deposit required to open or maintain the account.
Frequently Asked Questions
Can a BVI company open a US bank account without a US director or US entity?
Yes. Hollis & Co. does not require a US-based director, US co-founder, or a US subsidiary. Your BVI entity alone is sufficient to apply.
Do I need to travel to open a BVI business bank account?
No. The entire Hollis & Co. application process is remote. You submit documents digitally — no branch visit or in-person ID verification is required at any stage.
Why do most banks reject BVI companies?
Global de-risking policies led major banks to exit offshore jurisdictions including BVI due to perceived AML and compliance risk. This isn't a reflection of your business — it's a structural policy decision. Purpose-built providers like Hollis & Co. are designed specifically to serve legitimate BVI-incorporated businesses that fall outside traditional bank risk appetite.