Opening a bank account for the company
At SFM, we consider a company to be practically useless, unless it holds a corporate bank account
The exceptions are holding companies that are created with the sole purpose of holding shares in other companies.
Thus we have developed a banking network and expertise which enables us to open accounts for all companies we register. Obviously, the final decision to open an account depends on the bank, but our account opening success rate is close to 95%.
Our professional status as "International Corporate Service Provider" and our signing of a good conduct charter give us the status of "eligible introducer" in the eyes of financial establishments in general.
As a result of this, opening an account and managing the dossier are much simpler, we send the banking file directly to our clients. We can also open bank accounts by correspondence for the majority of banks with whom we work.
How do we choose our network of banks?With our 15 years of experience in the field, and we are able to select banks that are secure, provide excellent services, as well as numerous banking facilities (e-banking, credit cards, letters of credit, etc.).
In addition, other important characteristics are studied before selecting a bank, such as:
- Political and economic stability of the country where the bank is located.
- Bank confidentiality to preserve the privacy of our customers.
- Financial guarantees of the bank to avoid the risk of bankruptcy.
- Excellent reputation of the institution.
- Wide range of financial products offered.
Which account for which customer?The SFM customer profile is varied and includes, among others, entrepreneurs, pensioners, shareholders, import-export businessmen, heirs, consultants and patent owners. We have, therefore, developed a banking network where an account can be opened for any type of activity.
What banking facilities are available?As a general rule, the following facilities are available from the financial establishments with whom we work:
- Multi-currency accounts;
- Trading in currency, shares and other titles;
- Interest bearing accounts;
- Credit card and debit card; and
- Letter of Credit.
We point out that it is difficult for offshore companies to establish credit lines, loans or other cash facilities unless assets are deposited with a bank to serve as collateral.
How to choose the country where the bank account will be opened?SFM opens bank accounts in the following countries :
Which documents are needed to open a bank account?As a general rule the bank asks for a certified copy of the shareholder's and director's passport (beneficial owner), as well as recent proof of residence which, must be less than three months old. If the client goes to the bank in person to open the account, a certified copy of the passport is not required. In Mauritius, banks also require a letter of reference from a bank and a CV. In Panama, banks do not open accounts by correspondence.
We will send you the additional documents necessary for opening the account by email, as an attachment, for you to sign and return to us preferably by special courier ( DHL, FedEx or Chronopost), along with the other documents mentioned above.