Offshore bank account for a Gold and Diamonds business

[Tony Aur]

I'm working with Artisan Miners in Sierra Leone buying/selling on their behalf the gold and diamonds they produce.

Trying to set-up an offshore bank account is a nightmare, once you mention the gold business and Sierra Leone you are immediatly high risk and most banks won't touch you!

Any suggestions? All help gratefully received!

 

[Gediminas]

Hey,

Since you are in a high-risk industry, I would suggest getting some help from the introduced who would open the doors for you. I could potentially help you too.

Send me an email to discuss it further.

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[Tony Aur]

I'm currently working with an introducer but am wondering if there are any I can approach direct

 

[Sols]

Most banks in Europe, Middle East, and Asia think that anything related to Africa is high-risk, due to a lack of understanding and experience. Not to mention the Caribbean, which banks are especially useless for Africa.

For anything involving Africa and international trade (outside of Africa), Mauritius and Seychelles are usually your best bets. But you will need an introducer/corporate service provider to set up a company for you first and then open a bank account.

That said, have you tried Ecobank, Zenith, Standard Chartered, Nedbank, and Standard Bank? The latter two become very friendly to business banking if you can park a few hundred thousand (EUR/USD/GBP) in personal wealth with them first.

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This is the probably the answer to your question.

 

[Tony Aur]

Thanks. I don't have a few hundred thousand at the moment as it is tied up in the Business. Standard Chartered is of interest as they are in Sierra Leone. Would I approach them in Mauritius or Seychelles?

 

[Sols]

SC isn't in Seychelles and their activities in Mauritius are quite narrow, but they are active in many other parts of Africa including Sierra Leone.

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This is the probably the answer to your question.

 

[Tony Aur]

Sols said:
SC isn't in Seychelles and their activities in Mauritius are quite narrow, but they are active in many other parts of Africa including Sierra Leone.
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In Sierra Leone they take up to 1 year to open an account! I met with them.