For a non-European, the opening of a bank account in a European financial institution is a difficult procedure, but it bears many benefits. A major benefit is that you enter the Single European Payments Area where the inter-country transactions bear same cost as the domestic transactions. Therefore, this type of account is for businesses or individuals who engage in many transactions involving large sums coming or going to the European Union. Also, Euro is widely accepted as one of the strongest and most stable currencies in the world and by default the European banks use English as their main language for electronic applications and communication.
Despite that it is not easy to open a European bank account for non-residents, we will suggest you banks which allow remote account opening or if it is considered necessary assist you to incorporate a European Company. We can assist from step a to z to open your bank account. There are high standards in Europe for financial institutions and the regulatory framework for Anti-Money Laundering is very strict, therefore a European Bank Account will be highly regarded by the people you convey with, raising the trust of your business.
Opening a personal or corporate bank account in a non-CRS applicable country strengthens your protection and privacy. CRS stands for Common Reporting Standard and is the standard for the Automatic Exchange of Information (AEoI) set by the Organisation for Economic Co-Operation and Development. It is a reporting and information collection requirement to which the financial institutions of signatory countries to AEoI must adhere to. Please note that if you are a US citizen under the Foreign Account Tax Compliance Act (FATCA) you are required to disclose unreported foreign bank accounts, financial accounts and income to the International Revenue Service.
If you’re interested in opening a non-CRS personal or corporate bank account, contact us and we will provide you with banking solutions that fits your business needs and structure. We will present you with the financial institutions we cooperate with and assist from step a to z to open your bank account.
E-banks are ideal for progressive individuals who are constantly looking for new solutions for their financial transactions. E-banks support remote account opening and they are ideal for individuals who need a bank account immediately. E-bank accounts are multi-currency and they offer considerably low exchange rates. Commercial transactions are processed immediately which is crucial in the high demanding international business world. Most e-banks do not charge any fee for internal transactions and currency exchange.
Transaction tracking is also a very useful tool offered by e-banks, especially when a business account is accessed by many persons. A great advantage that e-banks have in comparison to traditional bank accounts is that they can be integrated into your workflow by synchronising with the applications used by your business for logistics and economics.