Offshore banking from Grand Cayman as a US citizen
Im based out of Grand Cayman running a maritime logistics company that works with clients in the US and Europe. Everything about the business side was smooth until I needed a US bank account.
Chase said they dont bank Cayman entities, Citi wanted an in person meeting in New York with a 3 month waitlist, BofA said we needed a US entity first and Mercury requires US formation too. Spent about 4 months in this cycle of sending formation docs, following up, getting asked for more documents and then getting a generic rejection email with no explanation.
A fund admin I work with out here mentioned a fintech called Meow that onboards Cayman and BVI companies directly. Was skeptical but got approved in under 24 hours with FDIC insured accounts and a corporate card and after months of silence from the big banks that turnaround felt relieving.
Still early days for me with them but the onboarding and banking basics have been good so far. If your running a company out of Grand Cayman or BVI and dealing with the same US banking headache id say worth looking into. Whats your guys offshore entities bank setup or is something running the same setup as me?