Open a bank account on your new island
A local bank account is usually the first thing you need after you move, and it is the thing that unlocks everything else: your salary, your rent, your bills. Choose your island for guidance on preparing to open an account there.
Pick where you are opening the account for guidance on preparing to open one there.
Opening a business bank account
Business accounts ask for more than personal ones. Here's what each bank actually publishes, country by country, for the three places we currently handle business setup in.
Trinidad and Tobago — Republic Bank Limited▾
- Certificate of Incorporation or Continuance, Notice of Address, Notice of Directors and Notice of Secretary
- Beneficial Ownership declaration (Form 45), if the company hasn't issued shares
- Most recent Annual Return, for a company that has existed more than a year
- Audited financial statements or management accounts for the last 3 years, or an opening balance sheet and cash flow projection for a start-up
- A Board Resolution authorising the account opening
- A utility bill in the company's registered name (within the last 3 months), plus a utility bill and valid photo ID for each director, signatory, secretary and any shareholder holding 10% or more
- The company stamp, for registered entities
Minimum opening: TT$1 (no meaningful minimum published)
Published fees: TT$25 a month plus TT$1 per transaction, a TT$23 overdraft facility fee, and TT$43 per 100 cheques.
Non-resident applicants also need a reference letter from their bank abroad, proof of income, and FATCA/IRS forms if a US person is involved in the business.
See Republic Bank Limited’s own page →Jamaica — Scotiabank Jamaica▾
Every signatory and the business itself need a TRN (Taxpayer Registration Number), the same rule as personal accounts in Jamaica.
- Certificate of Incorporation, Articles and Memorandum of Association (waived for companies incorporated after 1 February 2005)
- A Directors' Resolution authorising the account
- Valid ID and TRN for every signatory, and the company's own TRN
- Names and addresses of principal owners, directors, beneficiaries, management and signatories, with ID for beneficial owners
- A financial statement, or 12 months of bank statements if the business doesn't have one yet
- A description of the business and its major suppliers, and the source of funds
- For a sole trader or partnership instead of a company: a Certificate of Business Name Registration and the business's written governing rules (a constitution or partnership deed) in place of incorporation documents
This list comes from Scotiabank Jamaica's investment-account onboarding pages; its everyday Business Chequing Account page does not publish its own checklist and just gives a phone number, so confirm with the branch that it matches for a standard chequing account.
National Commercial Bank Jamaica (NCB) also offers business accounts, but its site blocks automated access, so we could not verify its checklist directly. Expect it to ask for the same core documents: incorporation certificate, TRN, director ID and financials.
See Scotiabank Jamaica’s own page →Grenada — Republic Bank (Grenada) Limited▾
- Certificate of Registration for a sole trader or partnership, or Certificate of Incorporation for a company
- For limited companies: Certificate of Continuance (if registered after 1995), notice of registered address, directors, secretary and shareholders, and the Articles of Incorporation/Association and by-laws
- Two forms of valid photo ID (ID card, driver's permit or passport) for each director and signatory
- Audited financial statements for the last 3 years, plus a cash flow analysis or projection
- Bank statements showing existing capital or loan balances
- A business plan, for a new business
Republic Bank Grenada does not publish a minimum deposit or fee schedule online; confirm both with the branch.
See Republic Bank (Grenada) Limited’s own page →Requirements come straight from each bank’s own page and can change, and branches sometimes ask for more than their website lists, so confirm before you go in. If you would rather not chase this down yourself, our Business Setup service handles it as part of registering your business.
We can handle this and everything else
Banking is one piece of the move. From your visa or CSME certificate, to flights, housing and getting your account opened, we handle every step of a successful relocation.