Bank accounts
There are three ways of opening bank accounts in banks located abroad:
- by visiting a bank office
- by post
- online
All banks prefer to meet the client in person when the latter opens an account. Banks have to abide by the ‘know your client’ principle requiring the identification of a client. But many banks transfer such rights to their partner organizations. Therefore, there is no need to travel to Luxembourg to open an account, you just have to meet their local representative here in Estonia .
There are various requirements for opening a business account, but the following are compulsory:
- Founding documents of a company;
- Certificate of Good Standing;
- Letter of recommendation from a bank;
- Notarized copy of a passport of all the persons authorized to sign documents;
- Confirmation of the address – credit card statement, a regular account, etc. function as proof
Before an account is opened, the client is expected to answer the following questions:
- Areas of activity of the company?
- Size of the company (number of employees, sales & profit figures)?
- Where does the company operate (where do the clients come from)?
- Who are the owners/shareholders? Their personal and business interests and experience?
- Who are the actual beneficiaries? Their personal and business interests and experience?
Proceeding from the client’s wishes and aims it is possible to choose a suitable bank. We help to open accounts in:
- Latvia
- Switzerland
- Luxembourg
- Austria
- Hungary
- Malta
- Cyprus
