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Open bank account in Europe

Open Bank Account in Europe

Private Bank
Account Opening

Business
Bank Account Opening

Merchant
Account Opening

International Banking – International Accounts Group UAB offers complex services for bank account opening in Europe both for personal and corporate use. Also, we will be glad to offer assistance in merchant account opening. Our skilled team will prepare a detailed offer based on your needs and/or project. These days the financial borders are opening more each day, this allows one to open a bank account anywhere in the world absolutely online. It is very important that at the starting point the client understands the procedure for opening a bank account, and prepares the needed documents, how it is required by the bank or an online payment service provider. From our side, we can guarantee that we will make the procedure for the bank account opening comfortable and stress-free.

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Introduction Video

How to Open a New Bank Account Remotely – Step by Step

IB-IA Group UAB offers the opportunity of opening an account in one of the European banks in a fully remote manner. To open an account remotely, several conditions must be met:

  • The selected bank supports remote account opening
  • You meet/your company meets the requirements of the bank for deposits, turnover, type of activity and country of incorporation (for entities)
  • A complete set of documents has been prepared

You fill out the questionnaires received from our consultant

Consultant provides a cooperation agreement based on the provided information

Our bank specialist selects a more suitable bank account depending on the needs

AML bank specialist reviews your application

After the application is approved, we will arrange communication with a bank employee to open an account

You can still open a bank account in Europe during a personal visit. In this case, the number of financial institutions offering such a service increases significantly.

What Type of Bank Account do You Need?

Open a private bank account▼

In today’s globalized world, it’s becoming increasingly common for individuals to need access to international banking services. Whether you’re a digital nomad, a high net worth individual, or simply looking for better financial options, opening a private bank account can provide you with the security and flexibility you need.

At International Banking – International Accounts Group, we specialize in helping clients from all over the world open private bank accounts in Europe and beyond. Our team of experienced professionals can guide you through the process, from selecting the right bank to preparing the necessary documentation.

Advantages

  • Risk diversification and independence from a single banking system
  • Strong reputation
  • Deposit insurance up to EUR 100,000 (within the EU)
  • Extensive experience of serving clients from different countries
  • Currency accounts and low-cost wire transfers within the euro area
  • Ability to use VISA/Mastercard credit cards
  • Ability to invest in Europe (real estate, business, securities)
  • Access to profitable financial products: cards, brokerage accounts, etc.

Required documents

  • Passport valid for no less than 6 months
  • Proof of residence address
  • Confirmation of sources of funds
open a private bank account

Open a business bank account▼

As a business owner, you know that having access to global banking services is essential to success in today’s economy. Whether you’re expanding into new markets, accepting payments from customers around the world, or simply need to manage your finances more efficiently, opening a business bank account is the first step.

At International Banking – International Accounts Group, we understand the unique challenges faced by international businesses. We offer a range of services designed to help you find the right bank and navigate the complexities of cross-border transactions. And for high-risk businesses, such as those in the crypto or gambling industries, we can help you secure the right account to meet your needs.

Advantages

  • Customer-friendly financial transactions with European partners
  • Reduced wire transfer costs
  • Minimization of foreign exchange control (often no foreign exchange control)
  • Risk diversification
  • Enhancing the trust of partners and customers
  • Access to loans under favourable terms and conditions and profitable financial products

Required documents

  • Corporate documents: certificate/memorandum of incorporation, articles of association, a list of beneficiaries, certificate of good standing, and similar documents
  • Personal documents of owners and directors: passports, proof of residence address
  • Description of business activities
  • Description of the company structure
  • Annual report/accounting statement (in case of carrying out activities)
  • Confirmation of sources of funds
  • Documents must be translated into English or the language of the country where you would like to open an account. In some cases, documents must be notarized or legalized.

Furthermore, the selected bank may request additional documents, and banking specialists of IB-IA Group UAB recommend responding to such requests as soon as possible.

Open a business bank account

Open a merchant bank account▼

If you’re a merchant looking to grow your business, having access to a reliable and efficient payment processing system is essential. At International Banking – International Accounts Group, we offer a range of merchant bank account services designed to help you accept payments from customers around the world.

For high-risk merchants, such as those in the crypto or casino industries, we offer specialized merchant account options that can provide you with the security and flexibility you need to succeed. And our team of experts can guide you through the process of selecting the right bank and preparing the necessary documentation to get your account up and running.

Whatever activity your company is engaged in and whatever account you want to open (personal or business), specialists of the financial department of IB-IA Group UAB will be happy to provide a full range of services to you so that a bank account in Europe is opened for you as soon as possible. Contact us in any way convenient to you and get an offer today.

Open a merchant bank account

Additional Information on Account Opening

Why is PRE-APPROVAL required when opening a bank account in Europe?▼

Under the pressure of various institutions regulating the activities of all the world’s banks, central banks, the requirements of laws and worldwide de-offshore, leads to the fact that banks have now significantly tightened compliance procedures when opening an account, considering potential non-resident clients with special care.

The reason for refusal to open an account for your company in one of the European banks can be a variety of factors: the type of activity of the company, the nationality of the beneficiary, the location of partners and customers, the type of activity that the beneficiary receives profit and many other nuances that you want to know and consider before you decide to open an account in the European Bank of your choice.

Most of the above factors can be avoided by correctly selecting one or more banks that are happy to serve the client with your list of parameters.

You can choose a bank to open a non-resident account together with our international banking consultants, who daily conduct a thorough analysis of European banks to match the needs of our clients.

By doing the procedure of opening an account yourself, you can spend a lot of time and effort on filling out bank forms and certifying documents and still risk getting the bank’s refusal to open an account, even if you are potentially suitable for the bank as a client.

However, there is a possibility to get the prior approval of the bank to minimize their chances of refusing to open an account, if you start cooperation with a professionally selected bank with the prior approval to open an account.

For this purpose, our company offers a service – PRE-APPROVAL – preliminary coordination by the bank of the business model of your company and the country of residence of the beneficiaries.

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Some key factors to consider when opening an account in Europe▼

Despite all the advantages of opening an account in one of the European banks, you need to pay special attention to the following.

Providing a package of documents. European banks carefully review documents provided by clients, and in some European countries there is, unfortunately, still quite a lot of bureaucratic procedures.

In the practice of IB-IA Group UAB, there were refusals when opening an account in one of the European banks due to improperly prepared documents: the documents of the company contained errors in the names of its members and numbers (date of birth, identity document number and expiration date), the director and the beneficiary of the company were mixed up. Sometimes, the compliance department of the bank did not like the use of the black ink pen when signing documents, while the mandatory rule is the use of the blue ink pen.

For this reason, before sending documents to the bank, IB-IA Group UAB recommends using the pre-approval service, which means preliminary approval of the business model of your company with the selected bank, taking into account the country of residence of the beneficiaries, and approval of a full package of necessary documents to meet the requirements of the selected bank. As a result, you will save costs for preparing and sending additional documents, mitigate the risk of refusal and significantly reduce the bank response time.

Describing business activities. Due to the adoption of the most recent European Union Directives, European banks are paying particular attention to companies engaged in high-risk activities, which means companies that are highly likely to encounter various difficulties, including legal issues and customer dissatisfaction, or go bankrupt.

As a result, European banks and financial institutions may refuse not only to grant a loan to a company with such types of activity, but also to open a business account, in order to avoid the risk of being fined or even losing their license due to sanctions of the regulator. Banks and financial institutions consider business to be high-risk in the following areas: gambling and any activity in the field of gambling, trade in medicines, any cryptocurrency transactions, trade in precious metals/precious stones, trading activities, and 18+/adult industry.

Confirming sources of funds. When opening an account in one of the European banks, individuals can provide a tax return from the country of residence, an account statement, property purchase and sale agreements, employment contracts, inheritance documents, etc.

Companies need to submit the same documents as individuals (in case of new companies with a large share capital). In most cases, a company must be able to provide its financial statements, a list of partners, contracts, CV/resumes of directors and beneficiaries, confirmation of the list of employees from the tax department, and a bank statement (if the company has an account with another bank).

Providing a proof of residence of the applicant/members of the company. According to the current AML/KYC policy of European banks, clients from non-European countries are considered ‘risky’. After receiving an application to open an account, some banks refuse to provide services to such clients. Therefore, the pre-approval procedure is a unique opportunity to get preliminary consent or refusal from banks carefully selected for you by our specialists to consider a full package of documents for opening an account, taking into account your residence.

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In which countries you can open a bank account in Europe▼

The choice of a country for opening an account and a specific bank depends on your goals and the amount of the initial deposit and the minimum balance.

If the amount of your private/company deposits is more than 1 million euros, banking specialists of IB-IA Group UAB recommend opening an account in Switzerland. Swiss banks (UBS, Credit Suisse, and private banks, such as Reichmuth, Gonet) are the most reputable and trusted in the world and will be happy to offer you a full range of banking services, while ensuring the best customer service quality.

With large deposits, you can also have additional opportunities with banks in Germany, Luxembourg and Liechtenstein.

In case of smaller deposits/a smaller initial deposit, IB-IA Group UAB specialists recommend considering the possibility of opening a bank account in Cyprus with its developed banking and corporate infrastructure. With our help, you can open an account with Cyprus banks, such as Hellenic Bank, Piraeus Bank, RCB, and many others.

We also recommend Portugal for opening a bank account in Europe. Novo Banco, Banco Best and other banks are long-term partners of our company.

Serbia merits special mention. This country is not an EU member, but here you can open a euro account for individuals and legal entities, get deposit insurance for up to EUR 50,000, use a developed banking system with international banks, such OTP, UniCredit, Expo Bank, Banca Intesa, and Bank of China.

If you want to open an account without a deposit, you can do it with one of the payment systems of the European Union. Within such systems, wire transfers are made instantly, while SEPA transfers involve no or minimal fees.

The functionality of European payment systems may include the following services:

  • Instant money transfers within the payment system
  • Currency conversion
  • Unique IBAN number
  • Opening an account online
  • Low fees for opening and using an account
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Frequently Asked Questions

What are the benefits of opening a bank account in Europe? ▼

Opening a bank account in Europe can provide many benefits, such as access to a stable financial system, increased security and privacy, and the ability to conduct business across international borders. European banks are known for their stability and security, and many offer competitive interest rates and low fees. Additionally, having a bank account in Europe can make it easier to manage your finances while travelling or living abroad.

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What documents do I need to open a bank account in Europe?▼

The specific documents required to open a bank account in Europe can vary depending on the bank and the country. However, in general, you will typically need to provide proof of identification, such as a passport or national ID card, as well as proof of address, such as a utility bill or bank statement. If you are opening a business bank account, you may also need to provide business documentation, such as articles of incorporation or a business license. It’s important to consult with the bank to understand their specific requirements and prepare accordingly.

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Can “International Banking – International Accounts Group” help me open a bank account in Europe?▼

Yes, International Banking – International Accounts Group can help you open a bank account in Europe. We specialize in helping clients from all over the world find the right bank and navigate the complexities of opening and managing a bank account in Europe. Our team of experienced professionals can guide you through the process and help you prepare the necessary documentation to ensure a smooth account opening process. Additionally, for clients in high-risk industries, such as crypto or gambling, we can help you find a bank that is willing to work with you and provide you with the financial solutions you need to succeed. Contact us today to learn more about our services and how we can help you open a bank account in Europe.

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Why IB-IA?

  • No hidden fees
  • Complex solutions
  • Quick response
  • Reliable customer support
  • Long-standing experience
  • More than 1000 bank account opened
  • More than 200 banking partners
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About Us

Company IB- IA Group UAB was established in 2014 in order to help physical and legal entities in bank account opening. Based on our long-term experience, we have established a number of trustworthy partnerships with reliable banks all over Europe. Our specialist will be able to do all preliminary work for you based on your needs and project in order to find the best suitable solution for you, that will substantially save your time.

We always move forward and are finding new partnership options within the most progressive and safe EMIs and banks in the European region. Moreover, we are trying to provide the best quality service for our customers. We highly value that our clients receive desired service in the shortest time possible without any difficulties. Company IB- IA Group UAB follows GDPR and stores all of the clients’ information in strict confidentiality. By working with us, you can be sure that your personal data is safe and secure.

  • More than 200 banking partners

    Due to the ever-changing banking sector in terms of requirements and regulations, we constantly strive to be in a lane with the news.

  • More than 1000 bank accounts

    Our experienced team helped open over a 1000 clients accounts for various difficulty projects and requests.

  • More than 8 years of experience

    During 8 years banks have tightened the onboarding processes and our long-standing experience will help you to obtain a positive result in the short time.

  • More than 25 countries

    We offer our support internationally and have helped customers from over 25 countries around the world.

IB-IA Partners

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HSBC
Banco Santander S.A.
BNP Paribas (France)
Deutsche-Bank
Barclays plc
Société Générale S.A.
UniCredit S.p.A.
ING Group N.V.
Crédit Agricole Group
Lloyds Banking Group plc
Royal Bank of Scotland Group plc
Intesa Sanpaolo S.p.A.
Commerzbank AG
Nordea Bank Abp
Standard Chartered plc
Credit Suisse Group AG
UBS Group AG
Danske Bank A/S
DNB ASA
Swedbank AB
IB-IA Group UAB has over 8 years of experience and has over 200 trustworthy partnerships with reliable banks all over Europe. We highly value partnership and long-term business cooperation, and try to expand our partner network every year. We always move forward and are finding new partnership options within the most progressive and safe EMIs and banks in the European region. Our partners have a high level of professionalism and timely fulfil their obligations.

Contact Us

IB-IA Group UAB has a team of professionals with a large amount of experience based in banking and on-boarding clients; previously took positions in different spectres of banking, from regular managers to management of different departments.

Please contact us with any questions you may have regarding international banking. We guarantee to reply to your request within 3 business hours.

  • Time in Vilnius

    • 1

       

      You fill out the questionnaires received from our consultant

    • 2

       

      Consultant provides a cooperation agreement based on the provided information

    • 3

       

      Our bank specialist selects a more suitable bank account depending on the needs

    • 4

       

      AML bank specialist reviews your application

    • 5

       

      After the application is approved, we will arrange communication with a bank employee to open an account

    IB-IA Group UAB

    • Registration number: 303474444
    • Address: Konstitucijos pr. 21B – 201,
      Vilnius, LT – 01103, Lithuania

    Contact Details

    • Phone: +370 668 189 70
    • Email: info@ib-ia.com
    • Monday-Friday: 9am to 5pm

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    © IB-IA Group UAB. All rights reserved.
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