Bank Account Opening Services
At TBA, 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 we work with.
Our clients can benefit from the following options offered by a majority of our banking partners: Internet Banking, Standing order/ Direct debit, Cheque book, Credit card or Debit card, BACS, CHAPS available, Telephone banking. Normally you will benefit from a period of FREE business banking transaction on a day-to-day basis; a bank account can be open in Euro, US dollar, Pound Sterling, Swiss Franc, Japanese Yen or local currency.
We have made this process as fast and integrated as possible in order to ensure that you receive a first-class service. Throughout the process we are kept up to date with your bank account progress. We do not have any signing rights on the account unless you explicitly instruct us to act as signatories in trust or as a part of the nominee services we provide.
Our company provides professional advice on selection and collaboration with well-established bank for each client individually; we undertake a full set of services on the organization of cooperation with the most reputable and respected banks.
Our clients refer to us as being fast, accurate, responsive but yet very affordable. TBA & Associates kept up that reputation for years and the company is appreciated by the community of world financial institutions. We are pleased to know that the communication between the bank and our clients is most productive from the point of view on receiving concrete high-quality services by mutually beneficial obligations.
Where TBA can open your Business Bank Account
TBA opens bank accounts in the following countries:
British Virgin Islands
Isle of Man
|Saint Vincent & Grenadines
United Arab Emirates
United States of America
TBA only and exclusively opens bank accounts
to clients having registered their companies with TBA, or transferred management of their companies to TBA
Most recommended banks TBA has protocols with
International Recommended Banks
|ABC Banking Corporation, Mauritius
Atlantic International Bank, Belize
Banco Sabadell, Spain, Madrid (*)
Bank of Ireland, Ireland
Bank of Nevis International Ltd
Bankinter, Spain, Madrid
Barclays Bank, UK
Bendura Bank, Liechtenstein
BIC, Banco Internacional de Credito, Portugal
Blue Orange Bank, Latvia
BOC, Bank of Cyprus
|BOSLIL, Bank of Saint Lucia Limited
Caixa Geral de Depositos, Portugal
Capital Security Bank, Cook Islands
Cayman National Bank and Trust Company (IOM) Ltd
CGD, Caixa Geral de Depositos, Portugal
CIM Banque, Switzerland
Citizens Bank, Philadelphia, USA
DBS Bank, Singapore
Euro Pacific Bank, Puerto Rico
Heritage International Bank & Trust Ltd
HSBC, Hong Kong
ICICI Bank, UK
Lloyds Bank, UK
|Mau Bank, Mauritius
National Bank of Vanuatu, Vanuatu
Nedbank Private Wealth – Isle of Man
Noor Bank, Dubai
Pacific Private Bank, Vanuatu
Rietumu Bank, Latvia
TD Bank, Toronto, Canada
Ulster Bank, Ireland
Vanuatu National Bank, Vanuatu
Verso Bank, Estonia
VP Bank, BVI
If either of these banks or jurisdictions to set up your corporate bank account suits you, we shall be very pleased to assist you.
How TBA choses its Network of Banks
With our 20 years of experience in the field, we are able to select banks that are secure, provide excellent services, and numerous banking facilities (e-banking, credit cards, letters of credit, etc.).
In addition, other important characteristics are analised 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?
TBA customer profile differs one from each other, including, 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.
Bank Facilities Available
As a general rule, the following facilities are available from all banks and financial establishments we work with:
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.
Documents usually required 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.
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 other), along with the other documents mentioned above.
Frequently Asked Questions (FAQ)
How long does it take to open an account?
Most banks will state on their websites that it will only take a maximum of 3 days to successfully open an account if all the forms are completed and that all information and supporting documents are included. This is rarely the case. It can actually take between 2 to 4 weeks for an account to be opened. Usually the banks will ask for more information and supporting documentation and their compliance teams will analyze the information provided for about a week before confirming an opened account.
Does your account opening fee guarantee an account can be opened?
No. Our fee is for providing assistance which includes liaising with the bank during the application process and troubleshooting after you have submitted the application, not for guaranteeing the opening of a bank account. The success of opening a bank account depends on the bank itself. They reserve the right to reject an application without giving us any reasons. They conduct extensive risk management checks and may find that a connected person or the activities of the business itself is high risk.
If our bank account application fails, will you waive or refund your fees?
Unfortunately, we do not. This is because we do not charge a fee for guaranteeing account opening as explained above.
Do any of the banks offer online banking?
Yes, almost all of the banks we provide account opening assistance with offer full online banking services so that you can manage and access your account online. You can apply for online banking at any stage either during the application or after the account is opened, as it is usually a separate application form for online banking which is not a mandatory form to open a corporate account. Most of our clients prefer to apply during the application.
Do the Directors, Beneficial Owners or Signatories need to visit the bank to open the account?
The majority of banks which we work with allow accounts to be opened remotely. All banks in Hong Kong require a meeting with the bank manager in Hong Kong with at least one the company Directors. Rietumu Bank in Latvia will require a meeting with one of their representatives however they are happy to travel to meet clients rather than clients flying to Latvia. We will usually advise you if you are required to meet with the bank. For remote accounts, all that is required is for the application forms to be submitted together with the supporting documentation. We request electronic copies at first, with the originals to follow by post or courier, as we will need to forward to the bank.
(a) If extra legalization and/or corporate documents are required by the bank, additional fees apply;
(b) Bank own account opening fees and costs (if any) will be charged from the first deposit to your account;
(c) Bank fees and costs are not included into our bank introduction fees;
(d) Any of the banks above always have their final word, after due diligence processed, by accepting you or not as their customers, depending on their own evaluation; however, you are always free to open your company’s bank account by yourself, with some other bank of your selection.
(1) The above description is not an offer or soliciting to provide financial services of any kind inclusive but not limited to buying any security or investment product or receiving an investment advice from us. Bank fees and account opening terms inclusive due diligence requirements are subject to change from time to time without notice;
(2) After the account has been opened you deal directly with the bank by yourself, entirely at your own risk and at your sole discretion; we may not be responsible for any changes in the legal or financial status, requirements, fees and commissions of the aforesaid Banks.
Our Services before you deal directly with the bank by yourself:
- Independent advice to help you to choose the right bank;
- Support regarding due diligence requirements;
- Assistance with filling in the required forms;
- Provision of properly legalized corporate documentation where applicable;
- Recommending you to the bank based on your individual profile and due diligence documentation;
- Representing you before the bank in the course of account opening;
Our bank account introduction is a professional service provided by TBA to company owners as an approved bank intermediary.
While we cannot guarantee the bank will open an account for every client, by using our professional expertise, we can significantly increase the success rate for account opening. We also can reduce potential application hold ups with incorrect or missing documents that the client may not have been aware of.
Factors we consider when recommending banks for account opening: client’s citizenship and country of residence, types of transactions involved (trading / manufacturing / real estate / investment), volume of payment transfers, investment requirements, confidentiality, soft currency requirements, as well as language issues when communicating with the bank.