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Accounts with Foreign Banks

The List of Banks:

 

The Baltic States:

AS EXPOBANK

Baltikums Bank AS

Citadele Bank

Danske Bank A/S Estonia Branch

JSC Norvik Banka

JSC "Rietumu Banka" 

 

The Republic of Cyprus:

Alpha Bank Cyprus Ltd

Bank of Cyprus Public Company Ltd.

EFG Eurobank Ergasias S.A.

Hellenic Bank Public Company Ltd

Piraeus Bank (Cyprus) LTD

OJSC Promsvyazbank, Cyprus Branch

 

Other jurisdictions:

AP Anlage & Privatbank AG

Bank of Singapore

Citibank (Hong Kong)

Credit Agricole (Suisse) S.A.

Credit Suisse Bank

DBS BANK (Singapore)

HSBC Bank (Hong Kong)

Hypo Landesbank Vorarlberg

Liechtensteinische Landesbank (Austria) AG

OCBC Bank

 

Opening overseas bank account

 

Any company that intends to carry on commercial or investment activity usually needs to open a overseas bank account. The opening of the overseas bank account is one on the main steps in the process of the overseas company creation, this will not only allow you to plan economic and financial activity, but also will allow you to optimize taxes.

 

We offer you services of opening overseas current and investment accounts with a range of foreign banks subject to your requirements and wishes.

 

Types of accounts

 

• Current accounts

• Investment and current accounts

• Investment accounts

 

Current Accounts.

 

These types of bank accounts are normally used by the companies for the purposes of their current business activities and settlements with their suppliers and customers. Bank accounts of this type are supposed to be of high liquidity level and to allow many transactions within a relatively short period of time and are commonly used for overseas schemes and tax optimization.

 

Banks often set some limits for minimum balance to be kept at current accounts, however, such minimum amounts are not large serving as security deposit for the purposes of bank commissions for the account use and/or transactions arranging. It is also worth mentioning that current accounts may be opened both in the name of a legal entity and an individual.

 

Current accounts are opened by large majority of foreign banks including but not limited to the following:

 

Name of the Bank:

Jurisdiction:

RAIFFEISEN ZENTRALBANK OSTERREICH AG

 Austria

Alpha Bank Cyprus Ltd

 The Republic of Cyprus

Bank of Cyprus Public Company Ltd.

 The Republic of Cyprus

Hellenic Bank Public Company Ltd

 The Republic of Cyprus

OJSC Promsvyazbank, Cyprus Branch

 The Republic of Cyprus

Citadele Bank

 Lithuania

 

Investment and current accounts

 

Investment and current accounts are mostly used for investment purposes. The main restriction concerning these accounts is the amount of minimum balance. The bank customer, however, has the right to make transactions using this account, though the number of transactions is limited. Thus, this type of bank accounts allows customers to manage investable funds.

 

Investment accounts

 

The main thing about classical investment accounts is that there is no option for effecting any transactions with the use of this account (except for opening, depositing and withdrawing); additionally such accounts involve hard limits as far as minimum balance is concerned. This type of bank accounts serve as investment tool (banks often offer different investment programs) and store of values.

 

Listed below are the most popular banks opening investment accounts:

 

Name of the Bank:

Jurisdiction

Credit Agricole (Suisse) S.A.

 Switzerland

Credit Suisse Bank

 Switzerland

Deutsche Bank

 Switzerland

UBS AG

 Switzerland, Austria, Great Brittain, Singapore