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Everything you need to know about citizenship and residence programs around the globe.
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It is a normal practice to open an account in a European bank if an overseas business incorporates its representative office in another country and will be paying to and receiving money from international clients and suppliers. As for individuals, they open accounts in Europe in order to save money and increase their capital. Irrespective of your purpose, either corporate or personal, most European banks would offer your excellent terms and conditions with minimum drawbacks.
Apart from political and economic stability of European countries that would save your money from potential depreciation, we have made a list of other pluses of European banks.
Even the Sun has spots, therefore it would not be fair not to mention minuses of European banking system along with its pluses. Because there are minuses though they are not obvious and critical for honest clients. We can actually say that they are the other side of the same coin which banks use to maintain and enhance their image and reliability.
It might be a good idea to get in touch with a reliable legal firm that helps businessmen and other migrants open bank accounts in European banks.
Our company provides account opening support in the UK, Latvia, Estonia, Austria, Portugal, Czech Republic, Lichtenstein, Cyprus, Malta and many other countries. Depending on your circumstances, our experts will help you make the right choice.
Once you decide about a country and bank, there are three steps before an account is opened.
Most European banks have official websites where you can easily find their terms and conditions. Pay special attention to bank fees and charges and additional services.
Check what documents your bank requires and make sure they are all in English or any other language, if required.
After your application and documents are submitted and checked, the bank will email you a client agreement. It is normally possible to do everything remotely without travelling to Europe that would save you time and money. However, if it is necessary, you can sign all documents when attending a bank branch.
If you are moving to the United Kingdom or planning to open a representative office there, you will most probably need a bank account. British banking system has been operating for a few hundreds of years and is considered one of the most reliable.
However, there is one huge shortcoming that cast shadows on all advantages; it looks like UK banks are not interested in clients from abroad. A foreign company stands no chance at all of opening a UK bank account. Non-resident individuals can apply in theory for a local account, but chances are almost non-existent.
On the other hand, Great Britain has been and is still one of global business hubs that is home to lot of subsidiaries of foreign companies. It means that a subsidiary of your company in the UK is able to have an account in a local retail bank.
Opening a bank account in the UK is different from opening one in Europe. Here are main requirements.
If director of a UK company is not UK resident, there is no way a bank will open a business account for you. Director must be legally in the UK with the right to live and work here. It can be done with a long-term visa or a permanent residence permit.
Director can be identified by a passport or any other form of ID. Proof of address in the UK can be provided in the form of recent utility bills or bank statement from another UK bank.
It is sufficient to give company number of your UK subsidiary to the bank to enable them to check your business.
You must also provide any other required information including about business activities, customers, suppliers, payment methods and required currencies. All documents must be in English.
Director might be required to attend an appointment with a bank manager which requires good level of English. Another option is to take an interpreter.
As you can see, opening a bank account on the British Isles is even more difficult than in Europe. Therefore, it is highly advisable to get professional advice and support.
Want to save time and money? Our experts can help you open a business account for UK-registered companies as part of the Imperial package. Our qualified advisers can also give you advice for taxation, financial and other matters that can affect how you run a business in the UK.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
Open a bank account
Start a business in UK
Second passport by investment
Visas to the UK
Worldwide business support
One of our qualified advisors will get back to you today or next business day.
One of our qualified advisors will get back to you today or next business day
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