South European Bank Account for Non-Resident Companies and Individuals
Thetabiz Corporation and its staff has been often asked by managers of offshore and international companies how they can apply for, get and maintain bank account; as some banks in the world refuse those companies which are managed outside of their place of registration. The bank located in South Europe, but still outside the European Union might be good solution for many such companies.
This South European bank will especially work with Swedish Credit Unions, banks or other financial instutions in need of basic banking facilities and payment transactions.
In interest of account holders and the bank we are bound not to disclose the name of the country, the name of the bank or any other particulars to general public, but to selected clients.
Bank account opening procedure is always personal, either the client travels to the bank to South Europe or to the branch of the bank in Eastern Europe, or the banking manager with all his expenses paid in advance travels to the client. This bank is very flexible and very fast -- they offer excellent service for modest fees. Many offshore companies and Swedish Credit Unions will appreciate the availability of the fast account establishment and payment services, incoming and outgoing transfers.
- Advantages of this South European Bank
- Disadvantages of this South European Bank
- Advantages of the South European country
- Requirements for bank account opening
- Necessary documentation for bank account opening
- Know Your Clients form for South European Bank Account
- Schedule of Fees
- Apply for South European Bank Account
Advantages of this South European Bank
Offers banking security and confidentiality, yet it is not located in known offshore country.
It is founded by foreign investment capital by one of biggest players in Eastern Europe, the bank is well established in its business.
Local currency has fixed conversion rate to EUR.
They offer payment services, incoming and outgoing wire transfers and excellent Internet banking.
Payment cards such as VISA Electron, VISA Classic or VISA Business can be issued to own staff in masses, the bank can provide a business with thousands of cards.
Banking manager can travel anywhere in the world to help clients get the bank account, if all expenses are paid in advance. This excellent service is rarely offered and usually only for private banking clients.
The bank will accept offshore companies from anywhere in the world.
The bank will accept other banks, credit unions, financial brokerage companies, investment companies, leasing companies, pension fund companies, insurance companies and other financial kind of companies.
Brokerage services available by phone, fax or Internet banking.
Disadvantages of this South European Bank
The bank will not work with U.S. citizens, U.S. residents or U.S. based companies, especially not with U.S. based LLC companies due to internal political strategy.
Bank accounts is offered in three currencies only, local currency (undisclosed), USD and EUR. Operations with cards and some other operations will be charged conversions from USD and EUR to local currencies. Payments in any currency and operations in any currency can still be performed.
Remote bank account opening is not possible. Banking manager can travel to the client or the client must meet banking manager in South Europe or in Eastern European branch of the same bank.
The maximum amount of incoming or outgoing transfer per day is $1,000,000.
There are no sub-accounts yet.
Advantages of the South European country
The country where this bank is based will not enter the EU for quite some years, and the EU directive of information exchange in regards to individual accounts does not apply. There exist the law of foreign investment which guarantees that any foreign investment brought in the country can freely be withdrawn.
Almost all banks in this country have been bought by foreign capital and banks are stable, but held in hands of foreign holding companies, those based in EU and Eastern Europe. Banks are well established and regulated.
Requirements for bank account opening
Main requirement for bank account opening is personal meeting with the representative of the company or individual and the banking manager. However, banking manager, if all expenses are paid in advance, can travel anywhere in the world to meet the client and to help the clients or companies establish bank account with this South European bank.
Necessary documentation for bank account opening
- Application for bank account opening, originally signed and sealed.
- Authorized signatures of account managers.
- Contract about bank account maintenance, signed and sealed.
- Contract about Internet banking services in 2 copies.
- Confirmation of receipt of PIN and TAN tables (or Digipass device).
- Certificate of company registration, notarized, with apostille and in English language.
- Articles of incorporation or other equivalent document, in English language and with apostille.
- Any other permissions for business activities if necessary, including the apostille.
- Power of attorney or other document of authority for the account signatory, in English language and with apostille.
- Notarized copy of the passport with apostille of the account signatory.
- Document showing the names of directors of the company, with apostille.
- The completed Know Your Clients form, originally signed and sealed.
- Power of attorney for the banking manager to get the local tax number. Non-residents only get the tax numbers, but are not taxed at all.
- Application for the local tax number, handled mostly by the bank. Non-residents are not taxed.
- Financial report or financial return for companies older than one year, signed by director.
- Statement of other bank accounts for the same company.
Know Your Clients form for South European Bank Account
It is mandatory to comply to the rules of the bank and that banking transactions are legal and proceed out of trade or services in business. It will be necessary to disclose the real beneficiaries of offshore or international companies. The final beneficiary can also be another legal entity but not offshore company, in general it is required to know who the final individual beneficaries are, including their place of residency. The bank will also ask who are the shareholders of the company if there are any and which types of activities are performed by the company and also which amounts of transfers will be executed. You will also have to provide the information of what kind of accounts you use with other banks such as settlement, payment or deposit accounts. Some basic informations about the main contracting parties will be also required and financial intermediaries will have to answer few questions more in regards to the types of companies (Bank, Credit Union, Brokerage company, Leasing or Insurances) and in regarsd to business.
Schedule of Fees
The Schedule of Fees is shown in EUR, although the bank will charge in local currency which has fixed conversion rate to Euro.
Apply for South European Bank Account
Please contact Thetabiz Corporation to arrange the account opening with South European Bank.
The name of the bank and the country is intentionally undisclosed.
Thetabiz Corporation will help with preliminary bank account approval if we get scans of company documents and prepare the complete application and the process.
The service fee for financial institutions is free. For small and beginning offshore companies or international companies, the service fee is US $400 in addition to any banking fees charged later by the bank.
The service fee is part of Thetaworld™ Global Bank Account Service.
Contact form
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