OPENING AN ACCOUNT IN A EUROPEAN OR OFFSHORE BANK
Opening an account with a bank does not mean that it will function successfully. In this case, it is important to study information regarding the proper use of a bank account outside the home state.
Among the basic rules for using a foreign bank account, it is worth noting the following:
- It is highly discouraged to advertise in your resident country that you have a bank account there.
- Currency control authorities can use this information only after the following manipulations have been carried out: transfer of funds from the account, settlement with a payment card, etc.
- Direct payments from a foreign account to a bank card of a native country are not recommended. For these manipulations, it is better to use a gateway created in advance.
The gateway is software, service, transport. Each citizen has the right, based on their preferences, type of business activity, transaction volumes, to choose a certain type.
An account within a European bank, as well as registering an account in offshore, takes an average of 14-21 days.
At the same time, within one week, the bank security service will check the package of documents provided during registration at the time of authenticity and absence of violations.
The set of documents (mandatory) includes: receipts for payment of utility bills, recommendations of other banks, passport copies and other documents (each banking institution determines a different list of additional documents).
If an account is required for a registered company, it is important to provide a full range of corporate type documents.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.