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Work with European banks: are there prospects for Russians and Ukrainians?

2018-09-04

Almost every citizen of Russia and Ukraine has faced problems in the banks of Latvia and Cyprus. User bank accounts were frozen, financial organizations requested additional documentation. When defrosting money after the collection of documents to transfer money to another bank is also problematic. In this regard, the question has become topical, are there banks that will agree to work with former users of services of organizations in Latvia and Cyprus.

Working conditions with banks in Europe

One of the trends supported by the whole world is the transparency of operations. Europe supports this innovation, is its supporter.

Transparency of work with banks is:

- The organization has data on who is the real beneficiary of the account;

- The bank has information about where the individual or legal entity takes the funds;

- The customer is law-abiding;

- All operations are clear to the bank, there is relevant documentation, which confirms the legitimacy of manipulation with money;

- When it comes to the company, there are no signs that it is a "dummy".

If the user does not agree with the terms of cooperation, the bank refuses to serve the customer. This can happen both at the beginning of the relationship between the client and the organization, and after a long time of joint cooperation. So, in Latvia recognized as "pacifiers" those companies, which several weeks ago were considered to comply with the law.

If the user does not agree with these terms of service, opening an account in Europe is considered not the best solution. This rule applies to both personal and corporate accounts.

Also, the servicing of these financial institutions is not suitable for those who can not take risks. This is due to the fact that in connection with some changes, many banks in Europe were in a difficult situation - they need to restructure the business model. There is always a risk of accusation of an international organization.

Therefore, many experts recommend opening an account with the European Bank with subsequent storage of no more than 100 thousand euros - the amount that will be returned if the bank becomes insolvent.

Opening of accounts in Europe

Opening one account in a bank is a big risk. If the judicial person has large investments, it is required to choose stable organizations, and also to use several accounts.

This is due to the fact that when you block a single account of the company, it will not be able to pay bills and accept payment for customers.

A new corporate account opens a long time, there is a risk of losing money and time. To prevent this situation, it is recommended to have a spare account.

Citizens of Ukraine, who are entrepreneurs, need to adhere to certain rules:

- Correctly choose the jurisdiction for the company registration procedure;

- It is necessary to collect all necessary supporting documents;

- Availability of a tax residence;

- Availability of documentation confirming sources of income, legality of transactions, accounting of finances.

Banks carefully study all documentation before approving the cooperation. It is important, at the first request, to provide all contracts, invoices and declarations, as well as other documentation.

There are manipulations that should be avoided so that the account is not closed, and the user has a good reputation. So, the first operations of banks are followed especially carefully. Therefore, you should ensure that all transactions are confirmed in the form of documents.

In the presence of a large number of transactions with cash, the bank can ask questions if there were many such manipulations. This applies to large payments, transactions - large transactions are always under close scrutiny.