At times we all need assistance. Whether you're looking for the best place to register your company or a physical office to open a company anywhere in the world, or simply want to know the meaning of an onshore/offshore company, this is a great place to start. Browse commonly asked questions on company formation below.
Do you have more questions? Read the answers to our most frequently asked questions below.
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Bank Account Opening Related Questions
Do I need to come to the bank in person to open an account?
Does opening an offshore company mean that a bank account will automatically be opened for the company?
In which countries can you open a bank account for my company?
Which banks do you work with?
Is it possible to open a private account as well as an account in the name of my company?
What fees apply for maintaining the bank account?
Can I have a bank account in different currencies?
How can I use the funds from my offshore account?
What is the corporate debit card?
Do I need to come to the bank in person to open an account?
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Most bank we work with are able to accept clients whose application is completed fully by correspondence. However, some banks will want to meet you in person. If you wish, a personal meeting can be organized with a representative of the banks we work with.
Does opening an offshore company mean that a bank account will automatically be opened for the company?
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No. If you tick the bank account opening option, we shall-in close collaboration with yourself-to review the banks which most suit your needs from among our network of prime banks. The bank will then decide if the account can be opened, depending on how comfortable they are with the nature of your business and the personal information provided by you. However, in more than 95% of cases, our clients obtained their account.
In which countries can you open a bank account for my company?
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Applications may be made in Switzerland, the Seychelles, Cyprus, Panama, Belize, BVI, St-Vincent, Latvia, Hong Kong, and elsewhere. Please refer to our website for the updated list.
Which banks do you work with?
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For legal reasons, we cannot disclose the names of the establishments we work with. However, be assured that we only work with first class banks, which are able to offer you all the services you may require (internet banking, credit and debit cards).
Is it possible to open a private account as well as an account in the name of my company?
topYes. It is possible to apply for a private account in addition to the account in the name of your company.
What fees apply for maintaining the bank account?
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The banking fees depend on the establishment holding your account. On average the fees for maintaining the account come to around Euro 200 per year. As for us, we do not charge any further fees once the account has been opened.
Can I have a bank account in different currencies?
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Once the bank account has been opened, you can choose a multi-currency account. This will allow you to keep several currencies in the same account. When a new currency is used, the bank will automatically open a "sub-account" so that you do not have to pay any exchange fees.
How can I use the funds from my offshore account?
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As with any other bank account, the funds of your offshore company bank account will be accessible through credit/debit cards, cheques, Internet banking or withdrawal at the bank.
What is the corporate debit card?
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The corporate debit card is a card issued to the company which allows its user to withdraw cash or buy goods within its limit. To be eligible to obtain this card from a bank, you must register a company and open a corporate bank account, this card will be linked directly to the corporate bank account and the card can be funded through the corporate bank account only.
Disclaimer: SFM Corporate Services and its affiliates do not provide tax, legal, or accounting advice. Materials provided by SFM Corporate Services and www.sfm.com have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario. Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.
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