Accounts in different banks in Europe – the nuances of registration

  • 5.12.2022
  • Written by Vladyslava Rykova
  • Category: Business, News

Modern entrepreneurs are usually not limited to the territory of one country. At a certain stage in the development of a company in a particular niche, it is expected to enter a new market, most often these are European countries. In order for everything to be legally correctly executed, the process of making payments to be as simple and convenient as possible, cost-effective, it will be necessary to create special accounts in different banks in Europe.

Should I open a bank account in Switzerland?

Swiss banks are a priori considered the most reliable and secure in the world. This reputation is maintained even in the current not very stable political and economic conditions in different countries. However, it will not be very easy for a citizen of Ukraine to open an account in a Swiss bank. Firstly, you will need to personally visit the country, have an interview with a representative of the selected company. Not all financial institutions can be contacted – the reputation of a potential client, his reliability rating are important. There are companies that work only with a limited number of clients on the recommendation.

Swiss bank accounts are not the best choice if you need to organize the financial side of your business. They are not suitable for daily transactions, settlements with individuals and legal entities, suppliers. These are deposit accounts, which provide very solid guarantees of protection against inflation and any other force majeure situations.

Bank accounts in other European countries

If you plan to organize a business in one of the EU countries, for example, you plan to register a company in the UK, this is a completely different situation. In any country there is a fairly solid list of reliable financial institutions that provide their services to businesses. To open such an account, in many cases you do not even have to personally visit a bank branch. Enough:

  • choose the preferred organization according to a set of personal requirements;
  • collect a package of documents;
  • send it online;
  • sign the contract also online after a positive decision on the application.

Registration of accounts in EU banks is possible of any type. For business, you can immediately open a multi-currency account through which you can conduct transactions with different types of money. Depending on the specific niche of activity, the type and number of accounts will also vary. You can figure out all the nuances personally, but you will have to spend a certain amount of your time. If you need to establish the process as quickly as possible, then it makes sense to contact a lawyer who has good qualifications and experience in this area.

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Vladyslava Rykova

Expert in legal marketing. Head of marketing agency MAVR.

Business degree “Master of Business Administration” (MBA).

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