09.25.08

SIBA sponsors conference

Posted in Offshore Banking, Offshore Services, Seychelles CSL, Seychelles IBC, Seychelles offshore jurisdiction, SIBA at 11:52 am by Robert Klien

It has already been discussed that the Seychelles International Business Authority (SIBA) sponsors many important events.  Today, on September 25, 2008, SIBA sponsors another important event – Seychelles Road Show Event. It is a half-day conference held in Shanghai, People’s Republic of China.

It should be noted that distinguished panel of speakers are presenting numerous topics at this conference. The issues under discussion are aimed to further strengthen the existing ties between the Seychelles and China. This event is a unique forum that explore the products of the Seychelles financial services industry. The issues to be adressed are the International Business Companies (IBCs), Mutual and Hedge Funds, the benefits of the Seychelles CSL used in conjunction with the Seychelles/China Double Taxation Agreement, and tax-efficient structures. Also, the speakers will discuss the uses of Seychelles as the jurisdiction for offshore banking purposes.

08.19.08

BMI Offshore Bank launches operations in Seychelles

Posted in Offshore Banking, Offshore Services, Seychelles banking, Seychelles offshore jurisdiction at 10:24 am by Robert Klien

In July, BMI Offshore Bank (BMIO) has announced that its offshore banking operations in Seychelles have been officially launched.

BMI Offshore Bank is a joint venture between Bahrain-based BMI Bank and Seychelles-incorporated Nouvobanq. Managed by BMI Bank, the venture will deal with offshore banking and private banking services and provide access to trust and investment services for corporate and private customers who reside abroad.

To celebrate the launch, a special ceremony was held. The event was attended by Government officials, key businessmen related to the offshore industry, Chief Executive Officer of BMI Bank Andrew Bainbridge, Wholesale Banking Director of BMI Bank Karl Stumke and other bank representatives, media and guests.

Chief Executive Officer of BMI Bank, Andrew Bainbridge, said that the launch of the first offshore bank in the Seychelles is an important move. BMI Bank was established with a vision to form a universal bank with presence in selected emerging markets and this move is the way to achieve it. He also said that BMIO will be supported by the head office in Bahrain in order to run a successful banking operation in Seychelles.

Initially, BMI Offshore Bank will offer deposits and investments on varying terms, transactional banking from current and call accounts, and internet banking facilities. Then, new products including Debit and Credit cards, loan financing, trust business and a range of other investment products will be introduced.

A license to operate was received by BMIO from the Central Bank of Seychelles in March 2008.

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