It goes without saying that the opening of a bank account is fundamental to any business.
It should be noted, however, that modern day banking is under growing scrutiny from national competent authorities and regulatory bodies who are concerned with the prevention of money laundering, countering of terrorist financing and the role they may play in tax evasion.
International banks are now facing strict rules under the ever-increasing standards of client identification and verification (Know Your Client: KYC). Banks are required to examine and scrutinise prospective clients; for firms, this may mean providing comprehensive company information as well as information on its directors and shareholders.
At FAI, we have developed a banking network and expertise which enables us to not only advise our clients on the most suitable bank for them, but also to assist in the increasingly complex bank account opening process through the collection and proper completion of many documents, as well as interviews and meetings with bank representatives.
With our knowledge and experience of the numerous procedures, opening a bank account for your company need not be a complicated matter.
WHAT CAN FAI DO?
- Provide professional advice on the selection and collaboration with well-established banks
- Suggest the most suitable bank and practical options in accordance with your specific needs and requirements of your business
- Professionally undertake the bank account opening process, ensuring the process is as fast and integrated as possible
- Keep you up to date on your bank account status throughout the opening process
- Requirements regarding information vary according to the jurisdiction of incorporation and house policies of specific banks