Open An Offshore Bank Account In Puerto Rico Online

One day we will probably have no countries, no borders, and one bank to keep all the money in the world. Meanwhile, people take steps to ensure freedom: they get second passports to make sure they can easily relocate if something goes wrong in their home country, buy real estate abroad to diversify their investments, start offshore businesses, and keep a part of their assets in foreign banks to be on the safe side.

Opening an offshore bank account is not a whim but a must in present-day conditions, and in this article, we are going to discuss Puerto Rico as a really good banking destination. If you have never thought of offshore banking or have limited knowledge of this sphere, read an article on offshore accounts on our portal before you decide on setting up an offshore account in Puerto Rico.

Our portal is a place where you will find much more information on all the aspects we mentioned above. And if you still have some questions or need help, we have a team of seasoned experts that provide services connected with starting businesses abroad, opening offshore accounts, getting a residence permit in another country, and more.

A Few Words About Puerto Rican Banking System

The Puerto Rican banking system is closely connected with the American one due to historical ties. All the standards and regulations set in the US are also followed by Puerto Rican banks. Puerto Rico can be considered one more state of the United States if we look at the relations between the two banking sectors. Even the functions of the central bank are performed by the Federal Reserve Bank!

Not all banks are suitable for non-residents wishing to open a personal account, though. We will recommend a reliable bank after we consider your case to make sure that the institution (and the jurisdiction itself) will really be the best choice for your financial goals.

Non-Resident Personal Account in Puerto Rico: Benefits

Any bank in Puerto Rico is actually an American bank, which makes it just as stable and multifunctional as all American institutions. Customers appreciate the convenience of opening an account online as most of them would prefer to do without a personal visit to the country.

Here are the main advantages of an account opened with a Puerto Rican bank:

  • You can open an account in the world’s most popular currencies: euros, US dollars, and pound sterling
  • Your daily cash flow is not subject to any restrictions
  • Benefit from fast wire transfers using SEPA, Fedwire, or SWIFT
  • You will get professional customer support in English
  • The services will be available to you 24/7 thanks to convenient online banking
  • There is a wide range of services that will surely meet all your needs
  • You will have a personal account manager

Puerto Rican banks offer really beneficial terms for non-residents as they are interested in attracting customers from all over the world. You will not have to make any initial deposit or meet any minimum balance requirements later on, and all cash limits are set on a case-by-case basis.

The most popular account types are the current account (to manage daily expenses), savings account (to accumulate your passive income, for example), and fixed-term deposits (to benefit from an interest rate).

There are special offers that make fixed-term deposits really profitable, so do not hesitate to check updated information with us.

Online Banking in Puerto Rico

As soon as you become a bank customer, you get access to a secure platform that will allow you to easily manage your account from abroad. View the account balance, transfer funds to other bank accounts, enable notifications and get your statements online in one click.

Here are some details about all the features:

  • Account status. You will be able to see all the essential information, such as the account balance, transactions completed recently, or the data regarding the use of debit cards. Download and print out any data you may need.
  • Money transfers. Use the online platform to transfer funds between your own accounts or externally. You can replenish your debit card online, too.
  • Notifications. The platform provides a really convenient notification system! You can adjust the settings to find out that the balance on your account is low or some payments need your attention. You will get a reminder of all the important steps to make on time.
  • Account statements. You can easily download the account statements to control your expenses.
  • Configure your account. All payments made via the online platform can be configured using an email address, a mobile phone number, or details of the recipient account.
  • Notify your recipients. Set up notifications to inform your recipients that payments have been made to their address (by email or using a text message)
  • Crediting. You can choose the speed of crediting the funds to the recipient’s account (instantly, on the next day, or within standard terms).

Puerto Rican online banking is very convenient, and we get good feedback from customers who have used it for some time. We will need to know your specific needs to confirm it will be good for you, so do not hesitate to get in touch with us using the above link to the portal.

Personal Account Maintenance Fees

The maintenance fees you will have to pay for your bank account are set on an individual basis as they depend on your citizenship. As soon as the bank checks your package of documents and approves the account opening, it will send the rates to the details you provide.

How Long is the Opening Procedure?

First of all, you will have to register online and communicate with the personal manager.

Second, you should be prepared to send all the requested documents (and sometimes additional ones later on). We will advise you on the quickest way to collect the documents and their correct execution. All documents need to be provided in English (or translated and notarized).

As soon as you have sent all the documents to the bank, they are submitted for a thorough review which may take up to three working days. Following that, the bank will communicate its decision to you.

If you want to have an offshore bank account and need a smooth and hassle-free opening experience, please contact our experts by clicking on the above link and benefit from excellent banking services provided by a reliable bank!