Could you give us a brief background on when and why Fairwinds International Bank was founded?

Fairwinds International Bank was established in 2016 in response to the growing demand for secure, reliable and comprehensive banking services for high-net-worth individuals and their corporate structures. Our founders recognized the need for a banking partner with a common-sense approach who could provide a full suite of services tailored to the unique needs of these clients, including holding companies for high-value assets, trusts and personal accounts.

What makes Puerto Rico an attractive destination for international banking?

Puerto Rico offers several advantages for international banking. As a U.S. territory, it operates under the umbrella of U.S. law and regulations, providing a robust and familiar legal framework which adds an extra layer of security for our clients. Furthermore, while it abides by U.S. federal law, Puerto Rico maintains a certain degree of fiscal autonomy, offering unique tax incentives meant to attractive financial services firms. Additionally, the island boasts a well-developed financial infrastructure, a multilingual workforce and a government that is supportive of the finance sector.

What services does Fairwinds International Bank offer to its clients?

We offer a wide range of services tailored to our clients' unique needs. These include multi currency accounts, cross-border payments and global custody of investment portfolios. We also provide physical custody of gold, prepaid cards and placement of fiduciary deposits in several currencies. As a full-reserve bank, we do not grant credit, leverage or engage in proprietary trading. This ensures the utmost safety for our clients' assets.

Could you explain more about the bank's approach to client relationships?

We believe in taking a holistic view of our clients' financial needs. This means we don't just provide clients with their six-digit account number and wish them well, but also work with them to understand their broader financial picture. Whether they need an operational account for holding company or high-value asset, or a custody account for their Trust, we offer comprehensive solutions and work with their trusted advisers to ensure their financial goals are met. 

How does Fairwinds International Bank stand out from other offshore banks?

At Fairwinds International Bank, our focus is always on the client. We offer a highly personalized service, not only does somebody pick up your call, you know the person on the other end of the phone. As an independent and owner managed bank, we do not push proprietary products or services. Clients are unambiguously free to continue working with their established asset managers, trustees or other financial professionals.

Can you share more about how the bank supports entrepreneurs and their business structures?

We understand that entrepreneurs and their businesses have complex financial needs. We offer them a suite of banking services that can support them at every stage of their journey, from personal accounts to operational accounts for their businesses. Whether it's providing multi-currency accounts for international operations, facilitating cross-border payments or offering secure custody in various exchanges, we strive to be a reliable and long-term banking partner for our high-net-worth clients.

Can you provide some details on the typical account opening process? 

Our account opening process is designed with utmost convenience and efficiency in mind, hence we have made the entire process completely remote. Clients can execute the account opening forms and send them along with the necessary KYC documentation via email to their designated Relationship Manager.

When a client is being managed or introduced by a professional intermediary (such as a law firm, trust company, external asset manager, etc.), we request a brief questionnaire that provides us with an overview of the prospective account. This allows us to assess the suitability of our services for the client's needs swiftly and accurately. Typically, our feedback on whether we can open the account is communicated within a few days, not weeks.

Unlike many other banks where the onboarding process can drag on for months, we strive to complete the entire process in a matter of weeks. Our goal is to provide our clients with a seamless and expedient onboarding experience, allowing them to start benefiting from our services as quickly as possible.