We assist in opening corporate and personal bank accounts in many jurisdictions around the world accessing individually each client’s business characteristics. Our experience and assistance including but not limited to:
- Preliminary procedures handling for account opening preparation
- Accompanying and assisting during Due Diligence (DD) and Know Your Client (KYC) processes for account opening
- Support and assistance in compliance for maintaining bank accounts opened as long as required (e.g. during a lifetime of a corporation)
- It is not a secret that due to AML and OECD requirements banks worldwide nowadays are maintaining scrupulous and detailed Due Diligence procedures on their clients. We are therefore approaching a bank account opening matter and advising on a ‘case by case basis’ considering a case in hand.
For us to be able to assist you in the account opening process in a chosen bank a preliminary preparatory process needs to be done. Such a process includes major requirements and passing due diligence and Know Your Client (KYC) procedures by a potential account holder (i.e. physical and/or legal person) which includes (but not limited to) answering the standard number of questions such as:
(i) Business activities: You are required to provide a detailed description of the business activities of your company for which a bank account required to be opened (Note: for physical person activities of a company/organization he/she works for required and personal Curriculum Vitiate (CV));
(ii) Estimated annual turnover on your/your company’s potential bank accounts – both – debit and credit turnovers;
(iii) Currencies in which bank accounts are required;
(iv) Address/details of your company’s business place (i.e. a place where actual activities are performed); Note: website of the company is an important and very helpful element for a banking institution to understand a potential account holder business activities/engagements.
(v) Details of potential counterparts for incoming and outgoing transfers (i.e. employees, partners, parent companies that belong to the same group, etc.);
(vi) Information of potential “Signatories” on bank accounts and “Users” of internet banking required at least our nominees appointed for bank accounts monitoring;
(vii) A list of documents required (i.e. company’s certificates, Memorandum and Articles of Association, passport copies of physical persons involved in your company’s management, under apostille).
Note: It should be stressed that the account opening process varies from a chosen bank’s jurisdiction as well as depends on activities of your legal entity and the final decision depends on the bank however we guarantee to continue support during the account opening from the beginning and up until the final decision of a bank whereas during the process we keep informed and guide you on each requirement/step to be performed as well as provide you with the feedback of a chosen bank.