Opening an account in a foreign bank (EU, Asia, CIS) for legal entities. Order a service at Coredo company
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COREDO > Opening bank accounts > For legal persons

For legal persons

Any company that operates in foreign markets or plans to enter them considers opening foreign bank accounts. There are several reasons compelling legal entities to open an account abroad (EU, Asia etc.). Opening bank accounts for legal entity enables entering new markets (a company needs an account in the country for convenient financial communication with customers and suppliers) or concluding an agreement with a foreign partner (a foreign company is not ready to work with an account in the country of registration and asks for a current account in a familiar jurisdiction). The procedure for choosing a suitable bank occurs with our help based on the profile of your company’s services in a specific market, taking into account the analysis of the terms of cooperation.

Bank accounts for non-resident companies

Country Features + possible jurisdictions Account opening cost Cost of pre-screening (Pre approval)** Deposit/Minimum balance Identification
Belarus Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. 2800 EUR (without nominee service)*** 400 EUR Not required At the bank branch
Belarus Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. Possibility of nominee service. 2800 EUR (without nominee service/at the bank branch)/3500 EUR (without nominee service/remotely)/4000 EUR (including nominee service/remotely)**** 400 EUR Minimum balance – 20 000 USD Remotely/At the bank branch
Belarus Belarus Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. Possibility of nominee service. 2800 EUR (without nominee service/at the bank branch)/3500 EUR (without nominee service/remotely)/4000 EUR (including nominee service/remotely)**** 700 EUR Minimum balance – 20 000 USD Remotely/At the bank branch
Georgia EU companies, LP, LLP offshore companies. It is also possible to open an account for individuals. Account opening via investment*. 1600 EUR 400 EUR Deposit – 400 000 USD Remotely/At the bank branch

* During the opening procedure, the bank requests you to deposit or purchase investment products
** Non-refundable
*** Price includes document translation and notarisation
**** Price includes translation and verification of documents, bank fees for setting up an account, bank fees for obtaining an electronic key, fees for the first month of electronic banking

Country Features + possible jurisdictions Account opening cost Cost of pre-screening (Pre approval)** Deposit/Minimum balance Identification
Armenia Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. Possibility of nominee service. 2100 EUR 400 EUR Not required Remotely/At the bank branch
Serbia Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. Possibility of nominee service. 2100 EUR 400 EUR Not required  At the bank branch
Andorra Companies from EU, UK (LTD, LP, LLP), Canada, Hongkong, CIS. Accounts can also be opened for individuals. Possibility of nominee service. 1600 EUR 400 EUR 10% of turnover Remotely/At the bank branch
Turkey Companies from EU, UK (LTD, LP, LLP), Canada, Hong Kong, CIS. Accounts can also be opened for individuals. Only companies without nominee service. 3400 EUR*** 500 EUR Not required At the bank branch

* During the opening procedure, the bank requests you to deposit or purchase investment products
** Non-refundable
*** Price includes document translation and notarisation
**** Price includes translation and verification of documents, bank fees for setting up an account, bank fees for obtaining an electronic key, fees for the first month of electronic banking

Country Features + possible jurisdictions Account opening cost Cost of pre-screening (Pre approval)** Deposit/Minimum balance Identification
Hongkong For Hongkong companies only. Nominee service not possible. Links to Hongkong required (local director, office lease, local phone number). 3400 EUR 700 EUR Not required At the bank branch
Hongkong For Hongkong companies only. Nominee service not possible. Links to Hongkong required (local director, office lease, local phone number). 3400 EUR  700 EUR Not required At the bank branch
China UK LTD/LP/LLP, BVI, Hongkong. Accounts can also be opened for individuals. Nominee service not possible. 5400 EUR 200 EUR Not required Remotely/At the bank branch
Austria EU companies + offshore companies. Accounts can also be opened for individuals. Account opening via investment*. 2400 EUR 400 EUR Deposit – 500 000 EUR Remotely/At the bank branch

* During the opening procedure, the bank requests you to deposit or purchase investment products
** Non-refundable
*** Price includes document translation and notarisation
**** Price includes translation and verification of documents, bank fees for setting up an account, bank fees for obtaining an electronic key, fees for the first month of electronic banking

Country Features + possible jurisdictions Account opening cost Cost of pre-screening (Pre approval)** Deposit/Minimum balance Identification
Luxembourg EU companies + offshore companies. Accounts can also be opened for individuals. Nominee service possible. 1700 EUR 400 EUR Not required Remotely/At the bank branch
Luxembourg EU companies + offshore companies. 1600 EUR 400 EUR Unspecified At bank branches (Moscow, London, Cyprus, Luxembourg)
Liechtenstein EU companies + offshore companies. Accounts can also be opened for individuals. Nominee service possible. Account opening via investment*. 1600 EUR 400 EUR Deposit – 260 000 EUR Remotely/At the bank branch
Poland Only for Polish companies or EU companies with links to Poland (counterparties). Nominee service not possible. 3700 EUR*** 200 EUR Not required Remotely/At the bank branch

* During the opening procedure, the bank requests you to deposit or purchase investment products
** Non-refundable
*** Price includes document translation and notarisation
**** Price includes translation and verification of documents, bank fees for setting up an account, bank fees for obtaining an electronic key, fees for the first month of electronic banking

Country Features + possible jurisdictions Account opening cost Cost of pre-screening (Pre approval)** Deposit/Minimum balance Identification
Poland EU + UK companies. Companies with links to Poland (contracts, invoices, payment orders etc.), transparent structure with no offshore presence. 2500 EUR – in person, 3100 EUR – remotely 400 EUR Not required Remotely/At the bank branch
Switzerland EU companies. Accounts can also be opened for individuals. Nominee service possible. 1400 EUR 400 EUR Minimum balance – 10 000 EUR Remotely/At the bank branch
Puerto Rico EU companies + offshore companies. 1600 EUR 400 EUR Minimum balance – 500 USD Remotely/At the bank branch
Antigua and Barbuda EU companies + offshore companies. 1600 EUR 400 EUR Minimum balance – 5000 USD Remotely/At the bank branch
Bermuda Islands EU companies + offshore companies. 1600 EUR 400 EUR Not required Remotely/At the bank branch
Mauricius EU companies + offshore companies. 1600 EUR 400 EUR Minimum balance – 5000 USD Remotely/At the bank branch

* During the opening procedure, the bank requests you to deposit or purchase investment products
** Non-refundable
*** Price includes document translation and notarisation
**** Price includes translation and verification of documents, bank fees for setting up an account, bank fees for obtaining an electronic key, fees for the first month of electronic banking

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ADVANTAGES
OF OPENING AN ACCOUNT ABROAD

Diversification of risks

Diversification of risks

Independence from one banking system

Independence from one banking system

Currency accounts and cheap transfers within the Euro zone

Currency accounts and cheap transfers within the Euro zone

Convenience in making payments abroad

Convenience in making payments abroad

Opportunity to invest in Europe and other regions

Opportunity to invest in Europe and other regions

Trustworthy reputation

Trustworthy reputation

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