Do you urgently need a foreign bank account? We can help!
Borders are closed, travelling abroad is out of the question but you need a foreign bank account right now anyway? You are welcome to make use of our opportunities and set up an account in a foreign bank without leaving the country and your office.
If you have been reading the articles at this website, you know very well what advantages a foreign bank account brings in terms of diversifying and protecting your financial assets. Therefore, we will not dwell on this topic here. Instead, we will get down to business straight away.
If you are really pressed for time and need a bank account abroad instantly, please write to us to [email protected] and we will gladly help you out.
How can you open a foreign bank account?
Speaking about an account in a foreign bank, most often you have to pay a personal visit to the bank, meet with the banker, and sign the documents by hand.
However, there will be times when you are unable to leave your home country: the borders may be closed due to a pandemic, or it is all hands on deck with you, or you have simply fallen ill.
If this is the case, there are banks in the world that will come to the rescue and open an account for you remotely.
When choosing what bank to set up an account with, you have to consider two main factors:
- The bank must be licensed and secure;
- The bank must offer adequate cooperation conditions.
In order to make certain that both of these requirements are satisfied you have to use the services of a professional mediator such as Offshore Pro Group, for example. We now which banks are real and which ones are only bunches of frauds eager to take advantage of the current difficult situation. Besides, we can offer you the financial institutions that will conform to your high standards and that will meet all your service demands.
What do you have to do to open a foreign bank account remotely?
The key thing is to compile the right set of application documents. All copies, forms, certificates, agreements, etc. must look just perfect and they must be consistent with the bank’s requirements.
The list of the required application documents will depend upon the type of account that you would like to open: a personal one or a corporate one.
When applying for a personal account in a foreign bank, you need to submit a legalized copy of your passport, a proof of address such as a utility bill not more than three months old, a proof of the legality of the capital sources, a resume, and a letter of recommendation from a professional such as a lawyer or an accountant. All the documents have to be translated in the national language of the country where the bank is located. Please be aware that many banks in non-English-speaking countries will accept application documents written in English or translated into this language otherwise.
When applying for a corporate account in a foreign bank, you will have to supply all the personal documents mentioned above for every company beneficiary plus the corporate document package, a business description, and whatever else the bank may request.
Every bank will have its own requirements to the application document package but any bank will ask you to fill out an application form in any case. This form has to be completed in an ideal way. A fine dress helps to impress, as you know, and it is important to leave a nice impression on the bank managers by submitting a neat package of application documents. If they do not like something in this package, they will ask you to supply some additional papers in the best case. In the worst case, they will turn your application down without any explanation.
This is why services of an intermediary are so valuable when applying for opening a bank account abroad. We will make sure that you have collected all the necessary documents, we will check if all the forms are properly filled out, we will provide useful tips on how to meet the requirements of a particular bank. These can be crazy at times. For instance, with some banks, you have to fill in the application form in blue ink. If you do it in black ink, the application will be rejected.
As far as the timeframes are concerned, even the fastest bank will take at least two weeks to process your application documents. Most often, however, opening a non-resident bank account takes longer. You have to be prepared for that. Besides, we are not taking into account the time that is required to collect all the application documents and complete all the forms. So setting up a foreign bank account does take some time.
What can you do if you need an account in a foreign country urgently?
How you can set up an account within a short timeframe
The twenty first century is not only the time of pandemics and trade wars but it is also the time of global digitalization and transition to the informational epoch. This concerns the financial and the banking sectors as well.
You can set up an account in a foreign country much faster if you use the services provided by a digital bank or a payment system.
We are talking about Payment Service Providers (PSP). These companies are not exactly banks as we know them but they provide a full range of banking services anyway. They have licenses. They make transactions. You can set up an account with an IBAN number with them. At the same time, their services often cost considerably less, they are more convenient, and they are provided much faster than in traditional banks.
You can open a personal or a corporate account with a PSP within only a few days after you have collected all the necessary application documents.
We are in close cooperation with EU, North American, and Asian payment systems and thus we can offer you the most flexible financial instruments. Some of our partners provide full-scale banking services:
- Accounts with unique IBAN numbers just like in a normal bank;
- SEPA and SWIFT transactions;
- Instant payments;
- Currency exchange;
- Transfers to and from other types of accounts including traditional bank accounts;
- Virtual and plastic pay cards.
Some PSP’s are able to meet the highest requirements and they are quite comparable to banks in respect to the quality and the range of financial services that they provide. Large-scale business companies open accounts with them. High-risk and offshore-registered companies can obtain their services if they can pass stringent due diligence checks.
Remote opening of an account with a payment system is quite possible. In certain cases, you will have to have an interview with a PSP manager via a conferencing application or a messenger.
Where can you set up a foreign account remotely and quickly?
Shortly speaking, it is possible to open an account abroad without having to leave your home country. If you want an account with a traditional bank, it will take more time to establish. Banks work slowly these days.
However, if you want an account within a few days, you are welcome to apply for services to a Payment Service Provider. We will be happy the help you choose the one that suits you best and provides services of the highest quality.
Please mind that you will have to collect the application documents and answer the Compliance Department questions in both cases, regardless of whether you are applying to a bank or a PSP. In both cases, you will have access to a foreign account that you can use for personal needs or for doing business.
Speaking about the banks, the PSP’s, and their locations, we can offer you a wide choice of those indeed. With our assistance, you can open a foreign bank account in Switzerland, Lichtenstein, Serbia, Madeira, Puerto Rico, and other countries.
You can also set up an account with a payment system registered in Latvia, Czech Republic, Great Britain, Ireland, Cyprus, and other countries.
Which one you prefer will depend on your goals. We suggest that you should apply for our free consultation on choosing the most suitable bank or PSP account. You can request the consultation by writing to [email protected]. Please do not wait too long to use this chance!