ONBOARDING PRE-APPROVAL FORM. INTERNATIONAL BANK ACCOUNT OPENING

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NON-RESIDENT BANKING SERVICES PRE-APPROVAL FORM ➝

Opening a bank account in a foreign country is challenging these days. But don’t worry… we can help! Thank you for your trust in our banking consultancy services.

Please fill out the online form below in as much detail as possible. This will give us the information needed to recommend the best offshore banking solution for you. Your data will be entered directly on a secure and protected server via an SSL secured channel and os protected by legal confidentiality.

Uploading documents is NOT REQUIRED at this stage. However, we recommend uploading your passport copy and proof of address document as we will then additionally be able to check for any negative information in international databases, such as people with the same name as you who may be blacklisted. This can make the account opening process smoother and faster.

What happens next? How do we work?

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NON-RESIDENT BANKING SERVICES PRE-APPROVAL FORM ➝

FAQ ABOUT BANK ACCOUNT PRE-APPROVAL SERVICE

Why did we create PRE-APPROVAL for those interested to apply for an offshore bank account?

Nowadays international and private banks that welcome with non-resident clients regularly revise and adjust their compliance and due diligence procedures. Non-resident client verification procedures become more complex and case-by-case oriented. Non-resident banking compliance evolves constantly under the pressure of various international organizations and political pressure towards global financial transparency.

Additionally, non-resident banking is regulated by tightening central bank controls, local and international banking legislation and KYC|AML norms even more so than your domestic banks.

We can debate the evils of this, and you can be sure that we are opposed to unjust poitical pressure on financial privacy rights. But this is not a constructive approach if you require a bank account for your asset protection or business ASAP. Our 20 + year experience in international banking industry acting as an eligible introducer for numerous banks globally shows that financial controls will only become stricter. Therefore, the earlier you adapt, the smoother will be your way towards the functional non-resident banking.

Non-resident banking services are being denied to the growing number of businesses and private individuals for a large number of reasons.  Your business type or model can be viewed as risky. Your citizenship or residence combined with other factors may classify you as high-risk client for certain banks. The countries or persons you will be trading with or receive payments from may also influence your non-resident bank account application review. These and many other circumstances must be considered before selecting a bank.

The vast majority of non-resident bank account denials are avoided by our clients after selecting a bank with a Professional. You can select a bank that will be happy to accept you as a non-resident customer together with one of our professional International Banking Consultants who will carefully analyze your data we receive from this online questionnaire.  Bank selection is FREE of charge and is based on filled-out questionnaire.

Regardless how carefully we assist you in selecting a bank, should you wish to skip the PRE_APPROVAL stage there is always a greater chance to spend your time, funds and effort on useless completion of bank application forms and the useless investment into certification and legalization of Due Diligence documents. There is still a risk your application may be denied even though your client profile suits banks’ standards. This may be due to multiple factors, but one and most unsuspected may depend on parties with whom you will be dealing through the newly established bank account.

The PRE-APPROVAL service is a sort of insurance that allows minimizing the risk of non-resident bank account denial. You receive this insurance right from the very beginning by acquiring approval in principle from one or several carefully pre-selected banks to accept you or your business after a preliminary analysis of your individual PRE-APPROVAL application by the bank officer.

What exactly is a PRE-APPROVAL for your non-resident bank account?

The PRE-APPROVAL is a unique opportunity to get a “yes in principle” from the pre-selected banks to review your complete application in principle – or, also possible, a fast track denial. Nobody wants to be rejected, but a fast rejection with little effort is certainly better tha a slow rejection after weeks of tortuously answering questions, sending documents and chasing up overdue responses.

Regardless of the PRE- APPROVAL outcome, you are still a winner. In case of the approval in principle you can begin preparing your due diligence package. Of course, even positive PRE-APPROVAL does not give you a 100% guarantee of non-resident account opening. 

Nevertheless, the probability of a positive outcome becomes much greater, since the bank officers know their bank’s Compliance requirements, and what exceptions might or might not be possible. With the PRE-APPROVAL the bank officer of the particular pre-selected bank already accepts you as a client whilst looking into your individual business or income acquisition model and particular turnover as well as tax residence conditions through the magnifying glass of experience.

In case of denial during PRE-APPROVAL process, you will be able to switch to other PRE-SELECTED options efficiently without spending your time on waiting for the full application review to finish. You will also avoid spending your money on unnecessary document certification. 

Due to the extended review periods in majority of banks (in depth due diligence requires more time), the legalization of your corporate and personal KYC documentation copies will  most likely expire and you will not be able to use the same document package to open accounts in other banks.  In the case of refusal, documents are either not returned or are expired by the time those reach a different bank at an additional cost, in case the bank agrees to forward them.

How much does the PRE-APPROVAL service cost?

The fee for the PRE-APPROVAL starts at 999 EUR for corporate non-resident bank accounts and 799 EUR for personal accounts.

If you receive the approval in principle, this amount will be deducted from the bank account introduction and opening fee.

If you are rejected from absolutely all banks that were pre-selected for you (this is possible if your business activity is considered high-risk), the PRE-APPROVAL fee will not be returned.

It is important to understand our goal is to AVOID sending applications that will most probably be rejected  by banks we cooperate with on a daily basis.

The PRE-APPROVAL service is only available to clients that have a strong chance to be accepted by the pre-selected bank.

How can you obtain the PRE APPROVAL for non-resident bank account opening?

You must fill out the Pre – Approval form yourself – or with the help of one of our international banking consultants over the phone. Ideally, this should be the consultant who helped you initially with the bank selection. Your Offshore Pro Group manager will be a second pair of eyes reviewing the completed information. If it is clear and sufficient, you will be provided with the invoice.

After we receive your payment, our manager within 48 hours will contact all pre-selected banks. The time of receiving a response depends on the certain bank, but usually it does not exceed 3-10 business days.

Who most definitely should use the PRE-APROVAL for non-resident bank account opening?

The PRE-APPROVAL is compulsory for all high-risk active businesses. You should take into account that majority of banks that still accept non-resident clients are not particularly interested in high-risk startups and we will have to make additional efforts to have your account approved. If you are not a start-up, we will need clear evidence of the success of your business to date.

The PRE-APPROVAL service is compulsory for businesses in the following fields:

• Crypto and blockchain companies;
• Companies with bearer shares;
• Gambling related businesses such as online casinos, poker rooms etc ;
• Adult business; online dating, advertising of services for adults;
• Pharmacy and drug related products, nutraceuticals;
• Trading (forex, bonds, binary options, CFDs)
• Precious metals, stones, jewelry;
• Mineral resources: extraction and trading;
• Projects seeking third party investments;
• Retail businesses using third party payment processors;
• Companies and private individuals planning to deposit or withdraw significant amounts of cash;
• Charities;
• Credit card protection services;
• Credit repair services;
• Payday loans
• Multi-Level Marketing
• Travel agencies
• Money Service Businesses, cambios, exchange houses, cheque cashers etc

The PRE-APPROVAL service is also highly recommended for businesses and private individuals with a clear and transparent business model if they are in a hurry to open a bank account. Such clients often prefer to make sure they are welcome before sharing the complete package with a full personal and/or business information with the bank and investing in Due Diligence legalisation and courier delivery.

IMPORTANT! In case our consultants do not see even the slightest reason for a denial, you will be advised against using the PRE-APPROVAL procedure.

The Pre-Approval is compulsory if you have selected a bank yourself due to the personal reasons (e.g. fellow businessperson recommended the bank or you like the particular bank due to a favourable fee structure). If you want us to Pre – Approve your account with a bank that we do not work with yet, the service is also possible, but it will take longer than a regular PRE-APPROVAL procedure.

Offshore Pro Group will deny the PRE-APPROVAL and account opening professional assistance services for the following areas of business activities:

• Adoption services;
• Child pornography;
• Sale of animals
• Sale of human body parts, fluids or remains
• Weapons trading
• Products or businesses originating in countries that are subject to sanctions.

What guarantees can I expect from the PRE-APPROVAL for non-resident accounts?

If we receive positive PRE-APPROVAL this does not mean a 100% guarantee of final approval until the bank account is set up. Your understanding of this fact is highly important.

When you apply for a non-resident bank account with Offshore Pro Group, there are two stages.

First step is the PRE-APPROVAL of your business model and the PRE-APPROVAL of beneficiary’s personal data by the bank officer to make sure your application  meets banks requirements. During this stage the primary decision takes place. Passing through this stage is guaranteed after you pay the PRE APPROVAL service fee and fill out the questionnaire. The outcome of the PRE-APPROVAL cannot be guaranteed, but since the bank has already been carefully selected with Professional care and diligence, a positive outcome is very likely.

The second stage is a careful study of your complete application by the Compliance or Legal department of the bank. If the outcome of PRE-APPROVAL was negative, you will be required to select a different bank. Proceeding with second step is possible only after the full account-opening assistance fee is paid.

You may be tempted to proceed with the second stage right after the positive PRE-APPROVAL without our assistance, however, there is less chance to be approved if you are not referred to the bank by the eligible introducer. We not only analyze your full application in the same way as Compliance does before it is submitted to the bank, but also refer you to the bank. Our assistance during the second stage includes also following up with the bank on a regular basis and therefore much faster account opening.  Banks are more confident in applications that we are referring since they know we have done our preliminary check relating to the account activity. Therefore applications are viewed more favorably when supplied by us.

You can successfully proceed with stage two only if you have complied with all bank requirements relating to Due Diligence and  opening deposit. If the data in full final application completely matches the data submitted during the Pre-Approval stage, the decision of the Compliance department depends on the coherence of the information presented in bank’s application form and KYC package mostly, since all the basic data, including your business model would be already pre-approved.

Once PRE-APPROVAL fee is settled, the careful study of your business model and diligently made with the pre-selected banks requests are guaranteed.

We guarantee that PRE-APPROVAL procedure will protect you from spending your money on:

1. Unnecessary Due Diligence Document legalization in case of rejection.
2. Sending of documents to the bank for pre-approval or additional preparation of documents in case of denial.
3. The repetition of the above number of times in case of rejection not to mention the saved time you could spend with your family opposed to the notaries office

PROCEED TO THE PRE APPROVAL QUESTIONNAIRE NOW

NON-RESIDENT BANKING SERVICES PRE-APPROVAL FORM ➝

Miscellaneous

The PRE-APPROVAL service is only applicable to retail non-resident account opening. Offshore Merchant account opening has a separate procedure.

The information indicated in the PRE-APPROVAL form should be true and detailed enough to avoid ambiguities.

Remember that  banks always reserve the right to request additional information during the PRE-APPROVAL  or  account opening stage and  even after your account is  approved.

During the second stage it is important to fill in your application in coherence with the data used during the PRE-APPROVAL stage. Otherwise, you make the PRE-APPROVAL stage useless and increase the risk for account rejection in cases the information does not match

If anything in your business model or personal circumstances change significantly, e.g. residence, country of business  domicile etc., the PRE-APPROVAL process should be repeated.

You can fill in the PRE-APPROVAL online right now or request the paper version by email: [email protected].