Foreign bank account : all the advantages and risks. Now, due to the situation with deoffshorization, entrepreneurship need to turn to the international banking services.
Therefore, the question of how to open an account in a foreign banking institution is now in the mind of almost everyone who is actively involved in business.
Cooperation with any financial structure and opening a foreign account have advantages and risks.
It is advisable to read carefully both those and the other before starting any transactions through the account. So let’s start with the benefits.
The owner of the foreign account is fully responsible for compliance with all legal regulations.
That is why, in order to exclude all possible penalties and blocking of the account, it is better to cooperate with a specialist with significant experience in the field of international banking.
It will also be necessary to carry out all financial transactions, taking into account the declared business activity of the organization. It means that it will be impossible to trade in such a way as to sell both cosmetics and equipment.
You may be suspected of money laundering or acting as an intermediary in illegal financial matters. Therefore, it is recommended to open multiple accounts.
You can open a bank account abroad in several ways:
The procedure for opening an account in a foreign bank is not too long and laborious. Nevertheless, it is better to use the help of people who work in this area and know exactly how to carry out this procedure.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.