Many entrepreneurs sooner or later face the need to open a bank account in a foreign bank. The reasons can be different, but most often it is a search for a reliable way to keep money and earn interest. It is no secret that most entrepreneurs decide to open a foreign account because of the extremely unstable economic situation in their own country.
OPENING BANK ACCOUNTS
Opening a Bank account for a legal entity in the Netherlands takes approximately from two to six weeks from the date of application to the bank.
Opening bank accounts in other EU countries takes from three to eight weeks from the date of application to the bank.
Our company opens bank accounts for legal entities in the Netherlands, Belgium, Luxembourg, Latvia, Portugal, Spain and Monaco.
You can open a bank account without the personal presence of the beneficiary, the only exception is the Netherlands, where the personal presence for opening a bank account is mandatory.
To open a bank account in the Netherlands, a legal entity must provide the following documents:
- Scanned copies of the beneficiary's passport
- Scanned copies of the passport of involved people/founders/shareholders.
- Articles of Association.
- Extract from the tax register.
- Extract from the chamber of Commerce.
- Legal and actual address of the company.
- Contact details.
Address of residence of the beneficiary.
- Completed and signed KYC form.
- The decision of founders/shareholders to open an account.
- Extract from the registry of UBO (Ultimate Beneficial Owner).
* All documents must be translated into English and notarized. In addition, they must be apostilled if the documents are issued in another country, other than the one in which the bank account is opened.
** The bank may request other company documents.
The same requirements apply for opening bank accounts in other EU countries, such as Belgium, Luxembourg, Latvia, Portugal, Spain and Monaco
The cost of opening a Bank account in the Netherlands and other EU countries starts at 2500 euros. The cost depends on the structure of the company and its history.