Opening a bank account in Europe on your own is a rather difficult procedure with many pitfalls. An offshore account can be a great tool for tax optimization. But the choice of jurisdiction and compliance with all formalities, as well as taking into account all the nuances are necessary to avoid unnecessary risks.
Advantages Of Opening EU Bank Account For Business
- It does not require the physical presence of the client,
- Low bank fees;
- Account management through online banking;
- Opening offshore accounts;
- Low transfer costs;
- No pressure of currency control;
- Diversification of risks.
Note that in most cases opening EU bank account is possible only under the condition of your personal presence. Offshore accounts are opened without the presence of the client – it is enough to visit https://stronlegal.co/en/ office. With professional help, the procedure will be quick and hassle-free.
Opening EU Account For Non Residents
Usually, nonresidents decide to open an account in Europe without visiting for conducting a full-fledged business in European countries.
When opening an account for a legal entity, several conditions are required:
- Check if the bank you choose supports remote account opening;
- If you meet the bank’s requirements: minimum deposit, turnover, activity, and country of registration (for business);
- A complete set of documents.
Documents EU Banks Usually Request:
- Company registration documents;
- Personal documents of the account holder or manager;
- Certificate from a local bank.
- Documents confirming the source of the funds;
- Recommendation letter from the business partner.
The legality of the money origin is one of the most important aspects for opening a European bank account for nonresidents. In addition, European banks are very strict about the principle of “know your customer”, so they require full disclosure of information about the actual owner of the company.
Conclusion
Almost all banks in Europe provide the ability to manage an account through online banking. Some can open an account remotely without leaving the country where the bank is located.
Where is the best place to open an offshore bank account for a company?
How to open a foreign bank account online?
What individuals and legal entities are allowed to open an account in banks of Europe?
All these and more you can find out directly from the lawyers, using the service “question online”, or by calling one of their offices. A good specialist will help you choose a reliable foreign bank and open a personal or corporate account in it.
