The procedure for opening an international company bank account is a lengthy and cumbersome process. This complicated procedure can be troublesome for those who have no prior experience of doing it.
The requirements and documentation needed to open a company bank account in Europe will be different depending on your country of choice. You will need to abide by the jurisdictional policies as stated by the banks of that location. For corporate bank accounts, most banks will need to see proper identification and evidence that the company is legally eligible to do business in that country. Additionally, all banks will require a business plan submitted with the application.
Obtaining a company bank account is required for European registered companies. In many cases, a company is required to pay the share capital into a corporate bank account before the company is incorporated. While it is preferable to open a company bank account in the country that the business is registered, it is not always required. It may be possible for the company to hold a bank account in another European jurisdiction, where the Euro is the main currency. Having a European business bank account provides credibility for your company when participating in business locally as well internationally.
EuroCompanyFormations.com can help you to form a European company and open a corporate bank account to facilitate your overseas financial transactions and payments. Using a licensed company formation agent will ensure your company is compliant with business regulations and ensure is it ready to start trading quickly. Euro Company Formations provide corporate services and can help you to set up a new business in over 50 countries across Europe.
They have an excellent track record and have set up more than 35,000 companies for their clients within the UK, Ireland, Germany, Bulgaria, Malta, Hungary, Netherlands, and many other countries across Europe. They can build a bespoke company formation package containing essential services such as local office address, document translation, VAT and Corporate Tax registration, bank account opening, accountancy and much more.
Benefits of using a Company Formation and Compliance Specialist
Opening a corporate bank account in any European country is a much simpler task when you have the professional assistance of a licensed company formation and compliance specialist.
These professionals will help you with the formation of your new company and lead you through the process to open a corporate bank account. It is essential for business owners to have a corporate bank account with online banking facilities so that the company finances can be managed from anywhere in the world.
The expert agents can assist you to open a bank account with minimal complications and in the shortest timeframe. They can even provide remote bank account openings in many cases eliminating the need to travel.
Some of the other services provided include:
- Facility to open European Bank Accounts for local and Foreign-Registered Companies
- Facility to open International Bank Accounts for European-Registered Companies
- Merchant Account Services for payment processing using e-commerce, telephone and point-of-sale
What are the Features and Advantages of Opening a Corporate Bank Account?
A business startup package can be customed to your needs and include excellent features to benefit your new company such as the bank account introduction. When a European company is registered it becomes its own legal entity, separate from the owners. For this reason, a company must hold its own corporate bank account so that its finances are held separately to the business owners.
Once the bank account is created the plans and agreements are solely between the registered company owners and the bank it has chosen to work with.
While there are many business advantages of having an international corporate bank account, it is highly recommended that you read the bank’s terms and conditions carefully, before signing any paperwork. Some features and customized services offered by leading European banks.
- Some banks offer waiver of maintenance and transaction fees for certain years.
- Most have a dedicated Business Startup phone assistance line for both local and international assistance.
- Prolonged Business Enterprise programs aimed at building long term business relationships.
- Quick and Easy access to an extensive library of free to use tools, informative guides, and online assistance.
- Business Debit Cards enabled with contactless payment features.
- Support of mobile, digital, and tablet banking 365 days in a year. This facility is provided to users at any time and from anywhere in the world.
- Some banks do not charge overdraft facility fee to their customers.
- Customers are provided with a wide array of business deposit options.
- Business Loans – International businesses may need loans at times for sustaining or expanding their operations. If you maintain a good relationship and positive transactions with the banks it will become easier to access business loans when you need them. Many business load applications can be applied for online via the banking website/client portal.
- Asset Finance – Some banks offer a facility to organize your asset finance needs over the phone.
Ways to Bank
To make it easier for their client companies to interact with their team of competent staff and customer care representatives, they provide multiple ways to get in touch with them. Including email, online chat, internal phone support and more.
- Online Business Banking
This facility enables business people to manage their bank account from anywhere in the world. Online banking offers the convenience to manage business transactions while on the move.
- Payment Acceptance with Merchant Account Services
Everyone who is in business very well understands the significance of providing a facility to accept payments via card. With Payment Acceptance services, you can:
- Expand your business by accepting payments via debit and credit cards
- Offer alternative payment options such as cheque, bank transfer or PayPal
- Provide the facility to accept payments online or over the telephone
- Enhance management of cash flow with next day banking settlement to the account
Many international companies need to open a corporate bank account in Europe and register for taxes quickly so that they can start trading. With the support of a company formation and compliance specialist firm, you can easily and quickly open your international corporate bank account. Be sure to ask about merchant account services to ensure a safe and secure payment solution for your business.