Bank Account Opening Services

With the exception of holding companies that are created with the sole purpose of holding shares in other companies, most companies are useless without a bank account.

Thus, our professional experts are in position to provide you full assistance and support to suggest you recommended banks to open accounts for all companies we register. Obviously, the final decision to open a business account will always depend on each bank, face to their own specific compliance.

Our professional status as "International Corporate Service Provider" and our signing of a good conduct charter give us the status of "eligible introducer" in the eyes of financial establishments in general.

As a result of this, opening an account and managing the dossier are much simpler; we send the banking file directly to our clients. We can also open bank accounts remotely, with a wide range of banks we consider as most recommendable.

Our clients can benefit from the following options offered by a majority of our banking partners: Internet Banking, Standing order/ Direct debit, Cheque book, Credit card or Debit card, BACS, CHAPS available, Telephone banking. Normally you will benefit from a period of FREE business banking transaction on a day-to-day basis; a bank account can be open in Euro, US dollar, Pound Sterling, Swiss Franc, Japanese Yen or local currency.

We have made this process as fast and integrated as possible in order to ensure that you receive a first-class service. Throughout the process we are kept up to date with your bank account opening progress. We do not have any signing rights on the account unless you may decide to provide such services to eventual nominee.

Our company provides professional advice on selection and collaboration with well-established bank for each client individually; we undertake a full set of services on the organization of cooperation with the most reputable and respected banks.

Our clients refer to us as being fast, accurate, responsive but yet very affordable. BSC & Associates kept up that reputation for years and the company is appreciated by the community of world financial institutions. We are pleased to know that the communication between the bank and our clients is most productive from the point of view on receiving concrete high-quality services by mutually beneficial obligations.

Bank Account Opening Services

Documents usually required to Open a Bank Account

As a general rule the bank asks for a certified copy of the shareholder's and director's passport (beneficial owner), as well as recent proof of residence which, must be less than three months old.

If the client goes to the bank in person to open the account, a certified copy of the passport is not required. Banks can also require a letter of reference from a bank and a CV.

We will send you the additional documents necessary for opening the account by email, as an attachment, for you to sign and return to us preferably by special courier (DHL, FedEX or other), along with the other documents mentioned above.

Frequently Asked Questions (FAQ)

How long does it take to open an account?

Most banks will state on their websites that it will only take a maximum of 3 days to successfully open an account if all the forms are completed and that all information and supporting documents are included. This is rarely the case. It can actually take between 2 to 4 weeks for an account to be opened. Usually the banks will ask for more information and supporting documentation and their compliance teams will analyze the information provided for about a week before confirming an opened account.

Do any of the banks offer online banking?

Yes, almost all of the banks we provide account opening assistance with offer full online banking services so that you can manage and access your account online. You can apply for online banking at any stage either during the application or after the account is opened, as it is usually a separate application form for online banking which is not a mandatory form to open a corporate account. Most of our clients prefer to apply during the application.

Do the Directors, Beneficial Owners or Signatories need to visit the bank to open the account?

The majority of banks which we work with allow accounts to be opened remotely. All banks in Hong Kong require a meeting with the bank manager in Hong Kong with at least one the company Directors. Rietumu Bank in Latvia will require a meeting with one of their representatives however they are happy to travel to meet clients rather than clients flying to Latvia. We will usually advise you if you are required to meet with the bank. For remote accounts, all that is required is for the application forms to be submitted together with the supporting documentation. We request electronic copies at first, with the originals to follow by post or courier, as we will need to forward to the bank.

Remarks

(a) If extra legalization and/or corporate documents are required by the bank, additional fees apply;
(b) Bank own account opening fees and costs (if any) will be charged from the first deposit to your account;
(c) Bank fees and costs are not included into our bank introduction fees;
(d) Any of the banks above always have their final word, after due diligence processed, by accepting you or not as their customers, depending on their own evaluation; however, you are always free to open your company’s bank account by yourself, with some other bank of your selection.

Disclaimer

(1) The above description is not an offer or soliciting to provide financial services of any kind inclusive but not limited to buying any security or investment product or receiving an investment advice from us. Bank fees and account opening terms inclusive due diligence requirements are subject to change from time to time without notice;

(2) After the account has been opened you deal directly with the bank by yourself, entirely at your own risk and at your sole discretion; we may not be responsible for any changes in the legal or financial status, requirements, fees and commissions of the aforesaid Banks.

Our Services

Our Services before you deal directly with the bank by yourself:

Independent advice to help you to choose the right bank;
Support regarding due diligence requirements;
Assistance with filling in the required forms;
Provision of properly legalized corporate documentation where applicable;
Recommending you to the bank based on your individual profile and due diligence documentation;
Representing you before the bank in the course of account opening;

Our bank account introduction is a professional service provided by BSC to European, USA, Far East or Offshore company owners as an approved bank intermediary.

Since the company or its officers do not show evidence of insolvency, bankruptcy, illegal business activities, criminal records, or any other evidence that might consider immediate rejection by any financial institution, such as residency or citizenship on black-listed countries, the way is open for the account opening; by using our professional expertise, we can significantly help you getting the account opening. We also can reduce potential application hold-ups with incorrect or missing documents that the client may not have been aware of.

Factors we consider when recommending banks for account opening: client’s citizenship and country of residence, types of transactions involved (trading / manufacturing / real estate / investment), volume of payment transfers, investment requirements, confidentiality, soft currency requirements, as well as language issues when communicating with the bank.