Inteliumlaw

Bank and merchant accounts opening

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Bank Account for Business

Inteliumlaw has a developed network of foreign banks and non-banking financial institutions, as well as payment aggregators around the world to offer our clients tailored Payment Solutions for Business. We help our clients with the selection of an institution for opening an account that meets their goals and wishes and fully support the account opening process, including bank compliance stage. We provide services for opening personal and corporate, current, savings and wealth management accounts, merchant accounts, accounts in crypto-processing, which allow our clients to accept payments in crypto-currencies.

Corporate accounts

well-functioning Corporate Bank Account is an important element for any type of businesses, regardless of jurisdiction or industry. Company exists only on paper if it does not have a bank account. It could not be a fully-functional market participant, conduct its activities, accept incoming and make outgoing payments, accumulate earned funds, and distribute profits. Even working with cryptocurrencies, in order to organize transparent activity of your business, increase economical substance, etc. your company will need a bank account, as well as solutions allowing processing of crypto-payments on your web-site and conversion of cryptocurrencies into fiat.

Based on the analysis of your business, our firm will advise you on payment solutions the most suitable for your business needs and help you to Open Bank Account with a Foreign Bank. It could be a traditional account with a foreign bank and/or account with non-banking financial institutions (Electronic Money Institutions, Payment Institutions), integration with payment aggregator or crypto processing.

Process of opening accounts in banking institutions is becoming an increasingly complex. Banks are ready to consider the most transparent businesses with a low-risk level, in particular traditional offline businesses. The nexus approach becomes more popular, as a result just limited number of banks accept foreign companies (not incorporated in/tied to the country of bank location).

Given all the difficulties with opening accounts in traditional banking institutions, accounts in non-banking financial institutions (EMI or PI) are considered as solutions for online businesses – software companies, eCommerce, digital marketing, online gambling and others. At the same time, it should be noted that due to the tightening of global legislation in the field of combating the financing of terrorism and money laundering, passing the Know Your Client (KYC) procedure during the acceptance of clients has become more difficult not only in banks but also in non-banking financial institutions.

To open an account, it will be important for the client to show the business plan for the project / business, justify the source of wealth for the business and beneficiaries, ideally, disclose the experience in the chosen business field, the planned first contracts with clients, and so on. Inteliumlaw will be happy to assist you with selection of a relevant payment solution for your business, support the process of account opening and make it to the extent possible smooth and easy. If you have any questions or require assistance, please contact our specialists.

Personal bank account

Opening personal accounts in reliable banking jurisdictions for the placement of distributed profit, saving and disposing of personal funds is a matter of particular importance that every business owner faces. The choice of a bank in this case can significantly affect the level of asset protection.

Depending on the goals pursued by the client, it is possible to open two types of accounts: current account and savings account.

It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks.

Savings accounts

It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks.

Today, the process of personal account opening is no less complicated than the process of opening a corporate account. Banks carefully check the candidacy of potential clients within the KYC procedure. Among others, the key aspects of the research are the source of origin of clients’ funds, its history, reputation, etc.

If you are interested in opening of a personal current or savings account, please contact our specialists, we will be happy to help you with your query.

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