News: Account in foreign banks

Opening of bank accounts abroad is a traditional and sufficiently prevalent type of legal services.

At first glance, there can be nothing easier than calling to the Bank and opening an account by phone or, if the requirements of the bank provide for the presence of a client to identify him or her, fly to another country and open an account in one of the branches of the bank.

We can't but agree that outwardly such a procedure looks quite simple and under certain conditions it is a rather simple procedure which, in addition to everything else, can be supplemented by a pleasant visit to another country.

Although the foregoing portends an entertaining pastime, this is by no means the most optimal way to solve the task of opening an account with a foreign bank, and a pleasant visit abroad can turn into a chain of travails and disappointments.

Opening an account with a foreign bank.

If you apply for such services to qualified professionals, you delegate your task to someone who knows all of its underlying potential problems and knows how to solve the issues, because he or she does it on a daily basis.

Such companies have established contacts with bank managers, representative contracts with them and experience in avoiding the troubles in this area. You will be helped to collect a package of documents required by the Bank, fill out hundreds of pages of bank forms and contracts, so that the account is opened from the first time and no additional questions are asked.

Opening a bank account is superficially very simple task that does not require legal knowledge. But imagine that one of the requirements of the bank in which you want to open an account is a personal presence to identify your personality, and it's not convenient for you to fly or at the moment you have no time to do this.

The fact is that companies that provide services to open bank accounts in foreign banks have representative contracts with many banks that allow their employees to carry out identification on the territory of the state where you are, and thereby save your time and money. In addition, such companies can choose the most suitable bank for you.

Significant problem for opening an account is the wording of the type of activity. Certain banks have a so-called "black list" of activities. These are the types of activities of clients and related persons that conflict with the legislation of the bank's jurisdiction, which is why they are referred to as unacceptable.

In case of submitting the wording of the description of the type of activity to the bank that can be deemed as prohibited one, you simply obtains a refusal and you will not be able to open an account in a selected bank. The above can be avoided by entrusting this operation to experienced professionals.

Law&Trust International cooperates with more than 120 banks around the world. We will help you open an account with a foreign bank. Our team has experience in this area and a sufficient number of partner banks to open an account with the bank for any legitimate business.