Maksym Stepanenko
Managing Partner, Crystal Tax
International client projects since 2012: company structures, tax, immigration, DUNS and NCAGE. 50+ jurisdictions.
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Reliable European banks are very attractive to open accounts for personal use there. But the fact is that it is not very easy for a non-resident to open an account in a European bank. To him more attention from the financial institution.
Krystal experts know how to deal with such a situation. First you need to select a country and a bank, analyze the conditions for depositors.
Once the choice is made, our staff will help you collect the documents and give the impression of a reliable client with a good reputation. You will be able to fully enjoy all the amenities provided by the leading European banks.
Opening an account in a European bank
It is necessary to confirm the source of funds. Ukrainians can freely keep money in foreign banks, provided that the funds are received outside of Ukraine as wages, scholarships, pensions and dividends. Special control is exercised over large amounts that are credited to the account.
Individuals can engage in investment and reinvestment, trade on the stock exchange. Also of interest are insurance programs in leading European financial institutions. It can be both property insurance, deposits, and life, health.
How to open an account in a European bank for a Ukrainian, what information will a financial institution request?
An account in a European bank will be opened for you only after you provide complete information about yourself:
- about the place of work or personal business;
- about the registration address;
- about the source of funds;
- About connection with the USA.
Individuals see European financial institutions as a way to save and grow capital. And some meticulousness of banks in Europe cannot block their pluses.
How to open an account in a European bank for an individual?
The most popular among Ukrainians are the banks of Great Britain, Estonia and Cyprus.
The history of the banking system of the United Kingdom goes back over 300 years. The oldest banks in the UK are retail. Private ones appeared a little later, they are considered not so prestigious, but they also have fewer requirements for clients.
It is the most difficult to open an account in the UK, but Crystal.tax will help with this as well. Sometimes it may seem that foreigners are not very fond of here. The UK is a rather closed country. However, even international students are required to have a bank account. All operations for payment of utility bills are made by bank transfer.
As for Cyprus, its banking system is ideally suited to the needs of wealthy individuals. The only drawback is that the personal presence of the client is required when opening an account. Some banks allow video communication with the client without a personal visit.
In Cyprus, you can open a multi-currency account, insurance.
Which banks can our Cyprus team recommend? Bank of Cyprus is considered the most popular bank and one of the most respected banks in the country where you can open a deposit, card or insure. This bank provides quality service to individuals who are engaged in investment.
The bank uses the latest technology and has 250 branches around the world.
We consider Eurobank Cyprus Ltd one of the most modern banks. It is well suited for managing private assets of non-residents.
Of course, it is much easier to open an account in a Cypriot bank for those clients who have a Cypriot passport.
Our advice: if you want to protect your assets competently and reliably, open accounts in several banks in different countries at once. Don't put everything in one basket. And the option of keeping money at home is not at all suitable. If you choose the right bank, you can make good money on interest from deposits.
Do you have any questions? Do you want us to help you choose a jurisdiction and a bank in Europe? We will advise on tax, financial and other issues. We are helped by practical experience of working with financial institutions in Europe. Our services include consultation, verification of documents and general with the bank until the moment of opening an account. We guarantee success if all recommendations are followed.
Contact with any questions about opening bank accounts:
- on the phone;
- by email;
- to online chat.
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Our advantages
Corporate structuring, company registration in Ukraine and abroad, tax and reporting, migration, bank accounts, DUNS and NCAGE codes. We run the whole project, from choosing the solution to the finished documents.
Confidentiality terms are set out in our contract. We do not pass information about a client or their project to third parties, except where the law expressly requires it.
We compare jurisdictions against your business task: tax regime, reporting, substance requirements and access to banking. On the call we go through the upsides and the limits of each option.
We name the timeline for every step before the work starts — it depends on the jurisdiction, the registrar and the bank. Personal data is used only to deliver the service.
We handle the correspondence with registrars, government bodies and banks and answer their requests ourselves. From you we need documents and signatures.
We take each case to the finish: if an authority or registrar comes back with remarks, we revise the documents at no extra charge. The fee is calculated for your task before work starts.