Intelligent Solution Group > Services > Opening a foreign bank account

Opening a foreign bank account

Corporate bank account in Turkey

Private bank account in Turkey

Corporate account with a UAE bank

Corporate account with a bank in Kyrgyzstan

Private and corporate accounts in Kyrgyzstan

Corporate account with a Chinese bank

Corporate account with a US bank

Private and corporate bank account in Switzerland

An account with an international bank enables entrepreneurs to operate seamlessly in foreign markets and collaborate with international partners, thereby ensuring the company’s competitiveness.

Price: depends on the bank chosen.

The benefits of having an account with a foreign bank

the option to have an IBAN number;

the option to open a deposit account;

the stability of a traditional bank;

reliable financial protection;

the option to visit a physical branch of the bank;

the production of plastic cards.

Who will find this service useful?

The service for opening a corporate account for businesses abroad is of interest to entrepreneurs who:

are in the process of registering a non-resident business;
are entering new markets;
face obstacles in managing their account and carrying out transactions at the bank where they already have a corporate account;
are not receiving the necessary options from their current bank.

Requirements

1

A company’s track record and business experience are often taken into account when assessing its business reputation.
2

Evidence of financial stability must be provided: profitability indicators, capital size, annual turnover, and so on.
3

Information regarding the purpose of the corporate account may be required.
4

It is important that the ownership and management structure is transparent. The identities of beneficial owners must be disclosed.
5

Strict compliance with anti-money laundering (AML) laws and ‘Know Your Customer’ (KYC) principles is mandatory.

6

Some financial institutions require the company to have links to the local economy, including customers, suppliers or business contacts.
7

Foreign financial institutions may set a minimum deposit for opening a corporate account or require a minimum turnover.
8

Compliance with the tax requirements of the country where the account is opened is mandatory.
9

Sometimes, opening a corporate account requires you to be present in person, but it is also possible to complete the paperwork remotely.

There is no single answer to the question of how a non-resident can open a foreign bank account. The conditions always depend on the requirements of the specific financial institution.

Opening an account with a foreign bank is a fairly complex procedure involving a large number of legally significant nuances of the legislation of the chosen country.

Please leave your contact details. One of our specialists will contact you within 30 minutes to discuss your enquiry.

Alla Head of Sales Department

Book a consultation! Choose a date and time that suits you.

Stages

a preliminary analysis of the client’s situation;

preparation of documents confirming the business and the source of income;

choosing a bank based on your business objectives;

submitting an application to open an account;

conducting negotiations with bank staff;

opening an account with a foreign bank;

setting up online banking where necessary, and assistance with transactions;

responses to the bank’s enquiries during the account’s operation.

We will approach several banks at once whose terms and conditions best suit your needs, to avoid any refusal to open an account and to have a fallback option.

Additional services:

charged separately

we assist with SWIFT connectivity;
we provide support regarding the establishment of non-resident companies and branches;
we advise on matters relating to the verification of the source of funds;
we prepare financial and accounting reports;
we assist with the compliance audit process;
we recover funds from frozen accounts.

How much does it cost to open a bank account abroad?

The cost of opening a bank account abroad depends on the chosen bank and jurisdiction. We offer a personalised approach to each client, taking into account their needs and objectives. For accurate information on costs and terms, please contact us via the form on our website or using the contact details provided.

What is the difference between obtaining a financial license in Lithuania and in the UK? Which jurisdiction should you choose?

The main differences relate to processing times, capital requirements, maintenance costs and reputation:

Lithuania offers a faster and more transparent EMI licensing process, flexible physical presence requirements and a favourable tax environment. It is a good option for start-ups and fintech companies operating in the EU.

The UK is a prestigious and stable jurisdiction, suitable for companies targeting international markets, including Commonwealth countries. The process is more rigorous but commands a high level of trust from banks and customers.

We can help you choose a country based on your business objectives, budget and target market.

What risks could lead to a license application being rejected, and how can these be minimised?

The main risks include:

an insufficiently qualified management team,
a non-transparent ownership structure,
an inadequately prepared business plan,
weak AML/KYC procedures,
and a lack of proven physical presence in the jurisdiction.

Cases:

CASE: How to recover frozen $600,000

The client faced a problem with frozen funds in the account of his international company. The bank where the account was held was in the process of liquidation and froze all funds while starting an audit of its clients.

CASE: Forgotten $400,000

Our client decided to completely liquidate his company, established about 10 years ago in Latvia. During the liquidation process and communication with the bank, we discovered that the client had $400,000 in the account for several years — money everyone had forgotten about.