Is it possible to open an account for an offshore company in a European bank
To open an account for an offshore company in a European bank, it is required to pass a special compliance control. Requirements for clients have become stricter, and it is necessary to provide information on the type of activity and planned transactions. Contact our specialists at IT-OFFSHORE to set up an account.
Features of account opening
Nowadays in order to open a bank account offshore, it is not enough to provide information about the owners and the structure of the company. It is required to collect all data about the corporation, partners, and counterparties. It is also necessary to prove the legality of the origin of funds.
Many institutions in the EU do not agree to work with offshore companies, since if tax violations are identified, they may receive a fine or lose their license. In this regard, when establishing a company, it is important to choose a financial institution in advance, where you can open a deposit.
What criteria do you need to consider when opening an account in a European bank:
- The range of services offered and the specifics of the bank's work;
- The size of tariffs, the provision of online banking;
- The number of currencies that the financial organization works with;
- Requirements for the minimum deposit;
- Possibility of working with cryptocurrency;
- The availability of loan processing;
- Provision of brokerage services, investment opportunities;
- Time of application processing;
- Preservation of confidentiality;
- The language used by the staff.
It is desirable to open an account in the country where the legal entity is registered. It is advisable to familiarize yourself with AML and KYC requirements beforehand.
Top 5 banks for opening an account offshore
One of the financial institutions is LGT Group in Liechtenstein. It offers traditional services, as well as programs for investments, loans on favorable terms. No need to travel to the jurisdiction to set up an account. Deposits can be managed remotely. There is staff who speak Russian.
An alternative option - accounts at the State Bank of Mauritius Ltd. The institution offers a wide range of services, including for offshore and non-residents. The registration procedure takes quite a long time and can take up to 1 month.
It is possible to open an account in Cyprus with Eurobank EFG Cyprus LTD. This bank is available in several countries. It is possible to create an account for a company remotely, and there are no conditions regarding minimum balances. The opening procedure is quick and takes about a week. An account can be set up for offshore, however, information about sources of funds, invoices, etc. will be required.
It is possible to open an account in Latvia at Latvijas Pasta Banka. The bank is suitable for international activities, trading companies. It is possible to create an account remotely, without a personal presence in the bank. A high level of anonymity is ensured.
Hermes Bank is popular in Saint Lucia for registering an offshore account. The term of the opening is about a week. The institution specializes in work with non-residents. Full confidentiality of information about clients and performed operations is provided.