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Is it necessary to visit the bank to start an account?


Majority of banks open the accounts for clients during a personal meeting. However, to start a corporate account for an offshore company, clients usually choose banks that are comfortable with servicing customers remotely. Such banks tend to have a procedure of getting to know a client remotely, too. Let us briefly go through the usual ways of identification of a remote client.

1. Visiting a representative office of the bank

Many banks open representative offices in zones of particular interest. Formally, the representative offices do not start bank accounts, but practically, a lot of questions regarding opening an account can be solved with a visit to a representative office. It is also possible to receive exhausting information on services provided by bank and tariffs.

2. Getting to know a representative of the bank, or an agent

Many banks that operate on foreign markets have a wide network of agent-representatives. The are empowered by the bank to identify clients and legalize the copies of documents of incorporation and passports of account managers. Agents also provide the full information on the services of the bank and help with selection of jurisdiction for company registration. Many agents themselves provide services on registration and maintenance of offshore companies and cooperate with banks on opening corporate accounts, giving a clients several options to choose from.

3. Opening an account remotely

It is possible to start a bank account online by downloading and filling in all the necessary forms from the official website of the bank. In this case, the signature of the account manager should be legalized by a notary officer. Note that most banks would require a personal meeting with a client either by meeting her in her country or by inviting her to one of their offices.

As you can see, starting a bank account by a remote client is possible. The key here is that his business and mode of operation are perfectly clear and transparent for the bank. Banks are always on the client's side and do not touch the questions of his tax responsibility and relationships with partners; they may even help in certain situations, especially if there is trust between the client and the bank.


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