When setting up your offshore vehicle, bank account in very desirable addition to it! We help our clients to open accounts in many jurisdictions. You can choose the same where you incorporate your company or any other jurisdiction to open the account. Little tip is to consider opening at least one account in the same jurisdiction, because a local bank account in the country of registration may improve the credibility and "visuals" of the offshore company.
Main thing is to remember that each account opening is subject to client status. When opening corporate bank account, banks require information from actual beneficial owner of the company, but if you wish someone else to manage your bank account you can appoint account signatory. Account signatory is an individual who has signatory rights in the bank account. Such rights are granted by a Company Mandate (a special resolution, signed by the company Director, resolving to open a bank account and to appoint particular individuals as account signatories). An account signatory may "sign" on the account - which means, he or she can execute transfers, sign cheques and otherwise dispose with the money on the account.
Most banks offer both – private and corporate accounts, therefore depending on your needs we can advise you and offer choices of different banks.
And of course it is possible to open merchant account. But as you could imagine, merchant account opening and the applicable discount rates are subject to client status, the products and services traded and a number of other parameters. We are usually able to introduce a merchant service provider to most types of businesses, except for the most risky ones.
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