# Nodabank: offshore bank and family office under Dominica banking license > Nodabank is an offshore bank and family office built on a Dominica banking license. When a bank structure can make sense for UHNW private capital. Author: Алёна Дунаева — юрист, Family Office (https://wiki.private.law/authors/dunaeva) Last modified: 2026-07-14T10:16:00.000Z Canonical: https://wiki.private.law/en/nodabank Topics: banking Jurisdictions: dominica Functional tags: crypto-friendly, corporate-banking, stablecoin Semantic tags: crypto-friendly, corporate-banking, stablecoin Article type: child --- ## Concept An offshore bank is not an ideal place to simply open an account and hold money. The cost of an offshore banking license in a jurisdiction like Dominica reaches $1 million — below the entry threshold for any serious banking jurisdiction. Offshore banks have no state deposit insurance and no retail business model to keep a traditional bank's economics afloat. Therefore, as a place to "just hold money," offshore banks lose to any EU/UK/HK/SG bank. The point of an offshore bank is different: it's a bank that listens to a specific client's needs and is not bound by rigid retail constraints — because it does not serve mass retail. It's a tool for specific tasks: structuring investments, prime brokerage, OTC transactions, lombard loans, escrow, discretionary asset management. Nodabank — an offshore bank of the Commonwealth of Dominica, launched in 2023 by a team from Switzerland, the United Kingdom, and the United States. Operates under two Dominica licenses — banking (details inOverview of Dominica offshore banking regime) and VASP (for direct virtual asset operations). Serves clients from 100+ jurisdictions, positioned as "bank + family office + private club" with dedicated concierge service. Nodabank is a client ofprivate.lawas a law firm, which gives us insight into the bank's procedures from the inside and helps assemble the package in the format that Nodabank compliance accepts on the first attempt. The decision on each application is made by the bank. > 💡 Opening an account at Nodabank makes sense for a specific task — family office management of a multi-currency portfolio, OTC crypto conversion within banking perimeter, discretionary management, C2B settlements for merchants. For core capital storage — Swiss or Singapore private bank, for regular settlements — Wise or Airwallex. ## What tasks Nodabank is suited for Family office and discretionary portfolio management.UHNW clients who need a bank managing a multi-currency portfolio (USD, CNY, EUR and 20+ more currencies) together with securities investments and individual investment strategies. Nodabank is clearly building itself as a multi-family office, not just a settlement bank — this is evident in both the product lineup and positioning. Individual terms, personal manager, 24/7 access viasales@nodabank.com. OTC crypto exchange within banking perimeter.Companies and private clients who need to convert BTC, ETH, USDT, USDC to fiat and back so the operation appears in the statement as a banking transaction, not an exchange withdrawal. FX Crypto fee per price list — 0.75% (both directions and crypto-to-crypto). Crypto deposit/withdrawal without individual bank fee. Cross-border settlements with USDT component.SWIFT, SEPA, and USDT in one cabinet — a rare combination for a legal bank. Suitable for transactions where one party settles in stablecoin and the other in fiat, and both need a banking perimeter and paper trail. C2B accounts for merchants.Companies that need to accept payments from buyers in fiat or crypto, and are willing to pay the bank a premium for entering its regime (C2B tariff 3.5% in/out). Niche — merchant companies that EU acquirers have refused. Concierge service and private club.A separate offering that is virtually absent at EQIBank or Kingdom Bank — selection of events (Oscars, Formula 1, Burning Man), business networking in London, New York, Dubai, and private bank events. For some UHNW clients, this is a clear part of the value proposition — the bank simultaneously acts as a network for deals. ## What Nodabank does technically Multi-currency accounts in USD, CNY, EUR and more than 20 currencies. Transfers via SWIFT, SEPA, FPS, USDT in one cabinet. Internal transfers between Nodabank clients — free. CNY in the lineup — a distinct difference from most Dominican banks that do not maintain yuan accounts. Crypto operations under VASP license. Deposit and withdrawal of BTC/ETH/USDT/USDC/EURT without bank fee (network fees paid by client). Crypto-to-fiat and crypto-to-crypto exchange — 0.75%. Family office services: purchase and custody of securities through partner brokers, individual portfolio management, selection of investment strategies. Specific instruments and exposures are discussed individually with personal manager. Concierge offering: access to private bank events, business introductions in London, New York, Dubai, organization of individual requests (Oscars, Formula 1, etc.). 24/7 service. ## Tariffs | Transaction | Cost | | --- | --- | | Onboarding and compliance review | €1,500 one-time | | Monthly service fee | €250 | | SEPA (in/out, volume 0–1M €/month) | 0,55% | | SEPA (in/out, volume 1–5M €/month) | 0,45% | | SEPA (in/out, volume 5–50M+ €/month) | 0,35% | | SWIFT (in/out, volume 0–1M €/month) | 0,95% | | SWIFT (in/out, turnover 1–5M €/month) | 0,8% | | SWIFT (in/out, turnover 5–50M+ €/month) | 0,6% | | FX Crypto (both directions and crypto-to-crypto) | 0,75% | | Crypto deposits / withdrawals | Free | | FX Fiat | 0,5% | | Internal transfers Nodabank → Nodabank | Free | | C2B account (full in/out, fiat or crypto) | 3,5% | | Deposit insurance | none (no Dominican deposit insurance system exists) | ## Mandatory client requirements > 💡 Nodabank is a bank operating under Dominican regime, not a payment conveyor. Compliance requirements are strict, onboarding is paid and only pays off with a certain profile and volume. - Company website mandatoryfor corporate applications. Clear business model and team information. - Foreign passport or long-term residence permit. Nodabank does not work with citizens of sanctions-sensitive jurisdictions (see section below). - Clean source of funds.Documentary proof of capital origin — statements, tax returns, asset sale agreements. - Notarization of documents.Cost individual, discussed before submission. - Counterparties outside sanctions-sensitive jurisdictions. Sanctions-sensitive jurisdictions — stop-list for operations. ## Opening throughprivate.law: stages and timeline 1. Package preparation.We collect passport, proof of address (statement with address or utility bill no older than 3 months), CV, business summary or source of funds description. For company — constitutional documents, website, LinkedIn profiles of directors and UBO ≥ 25%. 2. Document notarization.Notarial certification through our partner. 3. Submission through our legal team.Documents reach Nodabank through the same channel we use for legal work with them. This ensures the package passes in the correct format on the first attempt. 4. Compliance review.Nodabank verifies source of funds, conducts KYC/UBO screening.5–7 business daysin standard profile, up to 2–3 weeks for high-risk. 5. Approval, onboarding fee payment, activation.€1,500 onboarding + €250 monthly. After payment — issuance of details and access to digital cabinet. Access to concierge service and private events — after opening. Total timeline with clean profile — 7–14 business days. ## Sanctions-sensitive clients > 💡 Nodabank does not work with citizens of sanctions-sensitive jurisdictions. Passport from a sanctions-sensitive jurisdiction — refusal regardless of residence permit from another country, fact of residence outside sanctions-sensitive jurisdictions, and source of funds. This is a stop-criterion of the bank's compliance. Russian-language bank materials are aimed at Russian-speaking clients with other citizenship — Israeli, Armenian, Georgian, Kazakh, Ukrainian, European. This is not a signal "opens for sanctions-sensitive passport profiles" — a sanctions-sensitive passport profile in the package blocks the application in any case. ## Not suitable for - Citizens of sanctions-sensitive jurisdictions— regardless of residence permit from another country. - Regular cross-border settlements with Western correspondents. WIRE chains from Dominica pass through HK/SG/EU with elevated compliance scrutiny. For this — Wise, Airwallex, or Statrys. - Bank reference letter for US/UK/EU operations.Caribbean offshore banks are rarely accepted by Western banks. - Investment-grade storage of large balances.Dominica has no deposit insurance, sovereign below investment grade. - Regulated financial business.Funds, brokerage companies under FCA/MAS/SEC — Nodabank is not suitable as primary banking relationship. - Retail / SME with local payments. Onboarding and monthly fee costs do not pay off. For these profiles — Wise or Aspire. - Transactions with sanctions-sensitive jurisdictions. Nodabank does not process direct settlements with these jurisdictions. - Gambling, adult content, weapons.Prohibited. - Shell companies without business.Refusal. ## Q/A ### What documents are needed for personal account application? Foreign passport (not Russian and not Belarusian), proof of address (statement with address or utility bill no older than 3 months), CV, source of funds description. Documents are notarized before submission. ### What documents are needed for corporate account? Constitutional documents, passports of directors and UBO ≥ 25%, company website, LinkedIn profiles of directors, business description, company source of funds documentation. ### How long does opening take? 7–14 business days in standard profile. High-risk — up to 2–3 weeks. ### Do you open Nodabank for Russians? No. Nodabank does not work with sanctions-sensitive passport profile regardless of residence permit from another country. ### Do you open Nodabank for Belarusians? No. ### Do you open Nodabank for Ukrainians, Israelis, Kazakhs? Yes, Ukrainian, Israeli, Kazakh, Armenian, and European passports are considered on standard terms. ### Does Nodabank accept cryptocurrencies? Yes. Crypto deposit and withdrawal without bank fee. FX Crypto (to fiat or crypto-to-crypto) — 0.75%. ### What currencies can be held? USD, CNY, EUR and more than 20 currencies. CNY — a distinct difference from most Dominican banks. ### What is included in family office and concierge service? Individual investment strategies, purchase and custody of securities, access to private bank events, business networking in London, New York, Dubai. ### Is there deposit insurance at Nodabank? No. Dominica does not have a state deposit insurance system. ### Does Nodabank submit CRS / FATCA reports? Yes. Dominica is a CRS and FATCA participant, information is transmitted to tax authorities of clients' countries of residence. ### How does Nodabank differ from EQIBank? Both operate under a Dominican license and decline Russians and Belarusians. EQIBank — older (2015), focus on digital private banking, OTC desk, USD/USDT escrow, lending against digital assets, fixed interest rates with a cap. Nodabank — younger (2023), focus on family office + concierge + private club, tier-based tariffs by turnover, C2B tools for merchants. --- ## FAQ ### What documents are needed for personal account application? Foreign passport (not Russian and not Belarusian), proof of address (statement with address or utility bill no older than 3 months), CV, source of funds description. Documents are notarized before submission. ### What documents are needed for corporate account? Constitutional documents, passports of directors and UBO ≥ 25%, company website, LinkedIn profiles of directors, business description, company source of funds documentation. ### How long does opening take? 7–14 business days in standard profile. High-risk — up to 2–3 weeks. ### Do you open Nodabank for Russians? No. Nodabank does not work with sanctions-sensitive passport profile regardless of residence permit from another country. ### Do you open Nodabank for Belarusians? No. ### Do you open Nodabank for Ukrainians, Israelis, Kazakhs? Yes, Ukrainian, Israeli, Kazakh, Armenian, and European passports are considered on standard terms. ### Does Nodabank accept cryptocurrencies? Yes. Crypto deposit and withdrawal without bank fee. FX Crypto (to fiat or crypto-to-crypto) — 0.75%. ### What currencies can be held? USD, CNY, EUR and more than 20 currencies. CNY — a distinct difference from most Dominican banks. ### What is included in family office and concierge service? Individual investment strategies, purchase and custody of securities, access to private bank events, business networking in London, New York, Dubai. ### Is there deposit insurance at Nodabank? No. Dominica does not have a state deposit insurance system. ### Does Nodabank submit CRS / FATCA reports? Yes. Dominica is a CRS and FATCA participant, information is transmitted to tax authorities of clients' countries of residence. ### How does Nodabank differ from EQIBank? Both operate under a Dominican license and decline Russians and Belarusians. EQIBank — older (2015), focus on digital private banking, OTC desk, USD/USDT escrow, lending against digital assets, fixed interest rates with a cap. Nodabank — younger (2023), focus on family office + concierge + private club, tier-based tariffs by turnover, C2B tools for merchants. --- ## Factual claims - Nodabank — an offshore bank of the Commonwealth of Dominica, launched in 2023 by a team from Switzerland, the United Kingdom, and the United States. - Nodabank is a client ofprivate.lawas a law firm, which gives us insight into the bank's procedures from the inside and helps assemble the package in the format that Nodabank compliance accepts on the first attempt. - Family office and discretionary portfolio management.UHNW clients who need a bank managing a multi-currency portfolio (USD, CNY, EUR and 20+ more currencies) together with securities investments and individual investment strategies. - C2B accounts for merchants.Companies that need to accept payments from buyers in fiat or crypto, and are willing to pay the bank a premium for entering its regime (C2B tariff 3.5% in/out). - Concierge service and private club.A separate offering that is virtually absent at EQIBank or Kingdom Bank — selection of events (Oscars, Formula 1, Burning Man), business networking in London, New York, Dubai, and private bank events. - Multi-currency accounts in USD, CNY, EUR and more than 20 currencies. - Concierge offering: access to private bank events, business introductions in London, New York, Dubai, organization of individual requests (Oscars, Formula 1, etc.). - Total timeline with clean profile — 7–14 business days.