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Company and Bank Account by Correspondence

Company and bank account  | Aidelco

Company and bank account | Offshore bank accountCompany and Bank Account

How useful is an offshore company without a bank account?

With the exception of holding companies, whose sole purpose is as a holding mechanism for shares in other companies, a banking account goes hand in hand with an offshore company.

We have therefore developed a banking network which allows us to open accounts for all companies we register, and in the majority of the jurisdictions, this can be done remotely.

 


Company and bank account | network of banks

Our network of banks and how we choose them.

Due to our extensive experience and our reliable group of partners, we have been able to select banks that are secure, provide supreme service and with the same facilities you would expect from your bank (e-banking, credit/debit cards, LC’s, etc).

 

In addition to the facilities and services, we have additionally vetted the banks in our network for:

  • Political and economic stability in the country where it is situated.
  • The Bank’s financial position.
  • Reputation of the financial institution.
  • Their privacy and disclosure policies.
  • The range of products and services they offer.

What type of accounts are available?

Our customer base varies greatly. Our portfolio of customers includes entrepreneurs, pensioners, consultants, e-commerce companies, heirs, patent owners and not only. According to the type of customer and his business activity, we propose the most suitable account type.


 

Company and bank account | Banking facilitiesWhat banking facilities are available for me?

As a rule, we have vetted banks that will offer the same facilities as your local bank would:

  •  e-banking
  • Multiple currencies
  • Credit and debit cards
  • Currency trading abilities
  • Safety deposit box facilities

Please note that it’s very difficult for offshore companies to establish credit lines, overdraft, loans and other credit facilities unless assets are deposited or real estate offered to serve as collateral.


 

Company and bank account | Choosing a countryHow do I choose the country where my account will be opened?

As a general rule, we advise opening a bank account in the jurisdiction where your offshore is situated first.

Additionally, you are free to open an additional account anywhere. Your offshore can be situated in Panama, but you can have an account in Cyprus and vice versa. To ascertain which jurisdiction is best for you, kindly contact our consultants who can assist you relatively.

 



Company and bank account| Appllication
Which documents would I need to open my Bank Account?

Every bank has their own documentation policies, but as a general rule, the bank requests a certified copy of the shareholder’s passport, as well as a recent proof of residence (dated under 3 months old). Should the beneficiary opt to going in person to open his account, the certified copy is not required.

Note that banks in Mauritius also require a letter of reference from your bank as well as a C.V. Additionally, banks in Panama require physical presence for a bank account opening and will not do it via correspondence.


Need more information? Consult the Q&A about banking in our FAQ section.

Company and bank account | Audio Description