Case studies

Below you will find a few typical challenges faced by our clients and how we solved the problem for our client: how may we assist you?  

Banking worldwide was a problem for a very mobile consultant

Mr. Brown*a self-employed IT consultant with short to medium term contracts worldwide, was looking for internet banking services with a bank who understood the global, mobile and contractual nature of his business. His home country banks were not able to assist him as they focussed only on local clients.

Working with Mr. Brown, Loyal Bank arranged for a company to be established in St. Vincent and the Grenadines, owned by him and which could issue invoices for his work rather than him being paid directly which, his accountant confirmed, was more tax efficient for him. Mr. Brown could use and control his account from anywhere in the world through NetBank, Loyal Bank’s online banking portal. When Mr. Brown approached Loyal Bank, he was about to sign a major contract with a large European IT company, and as such, speed was of the essence. Mr. Brown’s account and company were established and operational within two working days, through Loyal Bank’s partner agency.

Payroll problems with a yacht crew?

Mr. Green*, a Family Office finance manager, controlled and arranged the finances of the Purple* family. A major concern was how to pay the 25 crew members of the family’s superyacht based in Monaco. Wire transfers were unreliable and horrendously expensive, pay cheques not acceptable and keeping cash on board presented security issues and highly increased insurance costs. The crew members also lived in different cities –the Captain lived in Venice, the Chef in Marseilles and the Chief Engineer in Antwerp and all dealt with different banks.

Working with Mr. Green, Loyal Bank arranged for a tax efficient company based in St. Vincent and the Grenadines to be established and set-up a payroll program enabling Mr. Green to load Euro-denominated debit cards in the name of the company with whatever amount was due to each crew member and each crew member was given their own card. Loading of the cards could be done at any time, on any day, and was fully secure and paperless. Charges for transfers were enormously reduced compared with wire transfers and remittances were immediate. The payroll program saved Mr. Green endless hassles with mislaid bank transfers and the Purple Family Office saved a huge amount in transfer fees: most importantly all the crew received their salaries, mobilisation expenses and any bonuses securely and on time, with no more need to keep large amounts of cash on board.

A problem with savings and investments: physical gold?

Mr. Pink* wanted to diversify his portfolio and invest in gold to take advantage of the current low prices, but he wanted to own physical gold in his own name and he did not trust cyber or paper gold investments, nor would his home country bank help him as they didn’t deal in gold. He also had a need for liquidity from time-to-time.

Loyal Bank sold physical gold to Mr. Pink* comprising a range of coins, ingots and bars, all of which had full assay documentary proofs. His holding was lodged in a highly secure and licensed vault in Switzerland in his name. Whenever Mr. Pink needed short-term liquidity, Loyal Bank created a loan secured against the gold (at a percentage of the market value) in either EUR or USD, with the collateral gold remaining in the same vault and still in his ownership.


For confidentiality the names of our clients in these case studies have been changed.