OPENING A FOREIGN BANK ACCOUNT

Foreign Bank Account - A Profitable Financial Solution

Registration of a foreign bank account is necessary when scaling a business or protecting personal finances. With it, you can instantly make cross-border payments, conduct international business, and easily pay local taxes. However, each foreign bank has its own regulations for working with foreign clients, which newcomers may not know. Maira Consult experts have extensive experience working with various financial institutions and will help open a foreign currency account abroad according to the client's requests.

Advantages of Opening a Foreign Bank Account

Opening a foreign bank account is beneficial for individuals and legal entities, and here is why:

• The ability to keep assets in different currencies;
• Protection of finances from economic and political instability;
• Tax savings;
• The ability to make payments in local currency;
• Access to investing in foreign projects;
• Guaranteed return of money in case of bank bankruptcy.

How to Choose a Foreign Bank?

To open a foreign account, it is necessary to analyze the following parameters:

• The purpose of the account. It can be investment, commercial activity, or personal funds storage.
• The possibility of opening an account online. Many banks provide online registration services. This is convenient for foreign and mobile clients.
• Available service prices. In foreign banks, most financial products are paid and may exceed the planned budget. It is also necessary to pay attention to commissions and interest rates.
• The presence of banking secrecy. To open an account abroad, it is important to immediately choose a country with high standards for banking secrecy and disclosure of private information. This will protect finances and transactions.
• Support for online banking. For foreign clients, it is important to have remote access to the bank account. This will simplify transactions, tracking financial operations and conducting payments.

What Type of Account Can a Foreign Client Open in a Foreign Bank?

A foreign bank client can register the following types of accounts:

• Checking. Opening a personal account in a foreign bank is necessary for managing personal funds, such as receiving a salary or making quick payments.
• Savings. This type of account abroad is used for saving currency and earning interest. Usually, the saved money is blocked for a certain period specified in the contract.
• Investment. Used for investment activities when buying stocks or other securities.
• Corporate. Opened when conducting business. In some countries, opening a corporate foreign currency account abroad is a mandatory condition for registering an organization of any legal form (LLC, JSC, etc.).

Requirements of Foreign Banks for Clients

Banks abroad provide services to non-residents if they have official employment or a registered company in the country. If you decide to open a foreign bank account, the financial institution needs to provide complete information about yourself. This may include the following data:

• type of activity (certificate from work/constituent documents of the company);
• document confirming income;
• companies need to specify partners, type of activity, beneficiaries.

In many banks of another country, you can submit documents remotely.

How to Open a Foreign Bank Account with Maira Consult?

Our company provides full support for opening accounts in foreign banks. The entire procedure takes a minimal amount of time because we know the value of your time. If you decide to open a foreign account, you are guaranteed to receive:

• loyal service cost;
• choice of bank in a suitable jurisdiction;
• assistance with preparing a package of documents;
• minimal account opening times;
• remote work with clients.

In which countries can you remotely open a foreign bank account with our company? Today, we have extensive experience working with financial institutions in 18 countries. If you need a country that is not on the list, sign up for a consultation. Maira Consult experts will offer the best solution for your issue.