Bank accounts for offshore

Bank accounts for offshore

Opening an offshore bank account is currently quite difficult, especially if a bank is located in the European Union. To open a bank account, please contact our specialists at IT-OFFSHORE.

Features of opening an account

Opening a corporate account for an offshore company in any bank is currently problematic. Difficulties are due to the fact that many banks began to implement financial monitoring, and sanctions were imposed on offshore companies. A company may not start working without opening an account.

To solve this problem, you can create an account with a bank or use the services of payment systems. These methods allow companies to start working quickly.
A bank account for an offshore company can be opened in the Caribbean islands, as well as in Georgia, Armenia, and some EU countries. To choose the most suitable financial institution, you need to analyze the information about the company.

What information should be considered when creating a foreign account:

  • Place of company’s establishment;
  • The purpose of registration;
  • Scope of work;
  • Information about counterparties.

When choosing a financial institution it is important to consider its specialization. If a bank works mainly with settlement and payment operations, the requirements to customers are usually minimal to work with such organizations. It is much more difficult to create a savings bank account for an offshore company. They specialize in investment and secure placement of funds.

Which account to open and which bank to choose

You should choose a bank for an offshore company carefully. It is important to consider the specialization of the financial institution, the breadth of the range of services, the availability of an application for remote access to funds, and the ability to register an account remotely.

Important parameters when choosing a bank are the size of commissions, types of currencies with which the bank works, and what languages the employees speak. It is necessary to take into account the requirements to companies, the ability to keep bank secrecy, etc.

Usually, settlement accounts work with different currencies, but you can create 3-4 accounts of different currencies. A current account is necessary to carry out transit operations, while a savings account is needed to credit and save finances, and there are not many operations on it.

Account creation procedure

It is recommended to select several banks and make applications to increase the speed of account creation. It is necessary to collect documents from beneficiaries, shareholders and directors. When applying the nominal service, the data of these persons will be required.

It is necessary to collect information on registration, prepare the charter, confirm the company's address, indicate the scope of work and the expected number of operations. Banks require information about counterparties. Upon request of the control department, additional information may be requested.

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