Offshore bank accounts
One of the first and most crucial tasks that you will need to undertake in order to establish a European company is to open a bank account in your country of choice.
It sounds easy, it should be easy, but in majority of offshore cases – it’s not. In fact, sometimes it can feel like certain banks go out of their way to make it difficult.
A number of banks require applicants to visit the bank in person in order to open their account, which is fine if you’re a German company and you want to open an account in Berlin. However, it’s not quite as convenient for those of us living outside the Germany.
Other banks insist that you provide them with a letter of introduction, duly translated and certified, from your bank at home. This is fine if you are fluent in the local language and have a good understanding of what’s required, but cumbersome and expensive if you aren’t and don’t!
There are also a number of banks that won’t even talk to you unless your annual turnover is in excess of $500 000. This isn’t much help if you want to get your European company up and running as quickly and cost-efficiently as possible.
Nowadays opening overseas bank account might be an issue, there are many compliance and know your client regulations, as well as toughen anti-money laundering regulations. Overseas account still possible to open on offshore, European or other company in all continents. US bank account is good when working with US dollars. Overseas account in Asia usually offered in Singapore or Hong Kong, they’re very useful when working with suppliers from Asia. European bank account is good for savings, Europe has a good banking history. Arab bank accounts also possible to open, mostly in Dubai for overseas clients.
In order to avoid you from doing all this research, our experts will make this process as quick and painless as possible and talk to the bank for you! With a few exceptions, it still is possible for a client to be identified through approved intermediaries such as Low Tax Company Ltd. without having a personal visit to the bank.
All you have to do is to select one of our major banks proposed and we’ll proceed with preparing of due diligence documents, business profile and filling bank application forms for you.
Leave the paperwork to us and manage your bank account over the internet or telephone. To find out more about how lowtaxcompany.com can help you solve your banking requirements please contact us.