Offshore Bank Accounts

Is it required for a BVI company to open a bank account in the British Virgin Islands?

No. A BVI Business Company may open the bank account, or even several accounts, wherever the owner wishes. There is absolutely no requirement for a BVI company to bank in the British Virgin Islands.

Furthermore, the particular banks that the BVI can offer to its offshore companies will most likely not be suitable for most of the offshore companies due to their requirements and the range of services they offer.