Bank account opening is the first thing you should start with, thinking about your new company. International Banks implemented strict compliance procedures and requirements for new clients. In our days the procedure of bank account opening in a foreign bank is a strong concern even for long existing trading companies.
Currently the main emphasis in checking the trustworthiness of the clients, it is very important to make an immediately positive impression, at least with timely provision of a full set of requested documents including personal attendance to the meeting with Bank manager.
Each bank would like to see the guarantees of transparency of company structure and bank account transactions. Therefore, it is very important for paying accurate attention to the preparation of all documents for opening an account and establish long-term cooperation with a reliable and trusted bank. The company will have its own reputation for banks thus you should try to be a reliable partner for each bank you work with.
Each jurisdiction, every Bank has its own rules, terms, and producers of an account opening. Choosing a bank, you should think about a personal visit to the country in which this Bank operating. Personal visit extremely helps with account opening, however, does not guarantee success.
Why is it so serious? Since all bank cares first of all about their reputation which must always be convincible for the government authorities and regulatory bodies.
The cost of account maintenance depends on the bank location and the required services. Most banks require holding a minimum balance on the account;
some banks require using Bank's financial tools and facilities; other banks have high fees for business transactions and monthly maintenance.
Additionally, the client should present accurate information about sources of funds for launching a business, the detailed description of business activities, turnover forecast, amounts of monthly transactions and names of prospective, current business partners.
KYC documents for all Parties in the Company structure, namely:
What documents are required to open an account?
Recent Utility Bill confirming residential address
Bank reference letter
CV which confirms the experience of the business owner and managers to conduct a business
Full corporate set for legal entities in structure disclosing such company to the physical persons
Recent extract from Trade Register or Certificate of Incumbency
Proof of company's operational address
Proof of company tax number
Corporate documents for main company (Certificate of Incorporation, M&A, Share Certificate, Registers)
The most of banks, in addition to the above, will request references either from the business partners of the company or from other banks in which it already has accounts, or contracts and bills in order to confirm the existing, prospective business activity and the declared, forecasted turnover.
Flash Inc will help you to prepare and succeed in this difficult and long process. We are professionals and have a huge experience in opening bank accounts. Please contact us in order to help your business reach a fast and reliable solution.
Electronic payment systems are required for a business which require selling and distributing goods or services through a worldwide network and using a non-cash payment for online payment. On the other hand, all B2C customers are looking for convenient payment methods to purchase goods either services in one click.
Each of the above payment systems has its own conditions and benefits.
Most start-ups companies and entrepreneurs do not have time to deeply analyze the conditions and benefits of all existing payment provides. For this reason, they look at competitors in which payment systems they use.
Therefore, it is necessary to advise with professionals to make your website attractive,comfortable and unique in terms of payment for visitors from all over the world, and you will feel it on your business – it will grow and become more profitable.