Opening a Bank Account for Non Residents
Regulated United Europe 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.
Choose the type of bank account to open
About Regulated United Europe
Regulated United Europe 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.
Regulated United Europe 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. Regulated United Europe follows GDPR and stores all 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.
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RUE Partners
Regulated United Europe (RUE) 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.
Additional jurisdictions to open a bank account :
FAQ – Pre-approval for opening a company bank account in Europe
Why do you need the pre-approval service when opening a bank account in Europe?
Under the pressure of various institutions that regulate the operation of banks around the world, including central banks, requirements, laws, and global de-offshorization, banks have now made compliance procedures stricter. They have started to closely monitor potential non-resident clients and their business.
Several factors can lead to a refusal to open a European bank account for your company, including:
- The type of activity of the company
- The beneficiary’s nationality
- The location of partners and clients
- The sources of financing of the company
These are vital considerations for anyone looking to open a bank account in Europe.
To avoid potential refusals when attempting to open a European bank account, selecting one or more banks familiar with clients of your profile is advisable. Our international banking consultants have been analyzing European banking services daily for the past eight years to assist clients in finding the right banking solutions, especially for those interested in opening a bank account in Europe as a non-resident.
Opening a bank account in Europe on your own can be challenging, requiring considerable time and effort in filling out forms and certifying documents, with the risk of being refused still present. This is particularly true for individuals and businesses aiming to open bank accounts in Europe for non-residents.
Obtaining prior approval from the bank can significantly reduce the chances of refusal. Regulated United Europe offers a pre-approval service, ensuring your business model aligns with the chosen bank’s requirements, considering the country of residence of the beneficiaries. This service is crucial for those looking to streamline the process to open a bank account in Europe.
What is pre-approval for a non-resident bank account?
Pre-approval is a unique opportunity to obtain preliminary consent or refusal from banks carefully selected for you by our specialists. This process is designed to consider a full package of documents for opening an account for your company in Europe, especially tailored for non-residents.
In this scenario, whether the decision of the bank is positive or negative, it is beneficial for you. If you obtain prior approval, you will be in a position to start preparing the necessary documents for opening a bank account. It is important to note that prior approval does not guarantee that the account will be opened with certainty, as the bank’s compliance department will make its final decision after reviewing a complete set of company documents. However, your chances significantly increase because the bank has already indicated a preliminary approval of your business model and information about you as a beneficiary.
In the event of a refusal, you have the option to consider other European banks suggested by our specialists. This approach saves you the time and money that would have been spent waiting for a bank to complete its review process and for certifying and sending new document sets for the company to the bank. Document review can take over a month, and the validity of your certified documents may expire within three months from the date of issuance.
How much does the pre-approval service cost?
The pre-approval service fee charged by Regulated United Europe is 2,000 EUR for corporate accounts and 500 EUR for personal non-resident accounts. The cost of the pre-approval service will be calculated by the consultant on an individual basis, depending on the compliance department requirements of the selected bank. The base pre-approval fee includes the service provision with regard to one, the most suitable, bank.
In case of refusal from all the banks selected for you (possibly due to the high-risk activity of your company), the amount paid is non-refundable. It is important to note here that you can be sure of our full transparency. We neither mislead our customers nor promise to do something that is obviously impossible to accomplish. We will not offer you banks for submitting a preliminary application if we are sure in advance that you will get a refusal. Furthermore, provided that opening an account with any bank is certainly impossible, the pre-approval service will be unavailable to you. In this case, the reputation of our company and your loyalty are our priorities.
Procedure for providing the pre-approval service in 5 steps
First, you fill out a form on our website and enter information about the company applying for opening an account and details of all its beneficiaries.
After filling out the application form, an automatically generated invoice for the provision of the pre-approval service will be sent to the email address specified by you.
Against invoice payment, the banking specialist analyzes the form filled out by you and, according to the data submitted, selects the most suitable banks/payment solutions for your company.
After agreeing with you on the most suitable option, your personal manager starts working on pre-approval of your application by the bank of your choice. The application processing time is 2 business days. The bank response time depends on the selected banks and the operating speed of their compliance department, and usually varies from 5 to 15 business days.
After receiving the application approval from the bank, you are redirected to a bank specialist who will finalize the procedure for opening an account for your company.
Who is recommended to use the PRE-APROVAL service?
The pre-approval service is recommended by our company for activities that are considered high-risk by banks. Please keep in mind that most banks are not interested in providing their services to such clients, and choosing the right bank and opening an account for your company will take a lot of effort and time. The use and payment of the pre-approval service is recommended for companies engaged in the following activities:
- Cryptocurrency trading and related transactions
- Gambling (online casino/betting/poker rooms, etc.)
- Adult industry
- Trading activities (foreign exchange/transactions with securities/binary options)
- Trade in precious metals/precious stones
- Investment activities
- Large cash transactions
- Business related to advanced technology (including IT business)
The use and payment of the pre-approval service is also recommended for company chief executives and individuals who, while having a transparent business model or type of income understandable to banks, value their time and money. Such clients usually strive to make sure that they are a desirable client for the selected bank before proceeding with opening an account, preparing/certifying/sending a full package of documents of the company and paying for account opening services in full.
The use and payment of the pre-approval service will be useful if you have chosen a bank on your own, without taking into account the recommendations of our consultants, and want to first make sure that it is possible to open an account with the bank of your choice. This service is also applicable to banks our company does not cooperate with, since the procedures for opening an account with a European bank are quite similar.
What guarantees does the pre-approval procedure provide?
Obtaining prior approval from the bank does not mean that the account will be opened 100%. This important point must be understood and agreed on before starting cooperation. Applying for opening an account will take place in two stages.
At the first stage, the business model of your company is verified by the AML department of the bank for compliance with the bank’s criteria. At this stage, a decision is made whether the bank is ready to provide its services to your company and whether the bank is satisfied with your business model. The completion of this initial stage is guaranteed to you after your pay for the pre-approval service. A certain decision the AML officer of the bank will make after reviewing your pre-approval application cannot be guaranteed to you; however, since the bank is initially selected taking into account the business model of your company, Regulated United Europe can guarantee that the bank will most likely make a positive decision.
At the second stage, your company is verified by the bank’s security service (compliance department). You can proceed to the second stage in case of a positive decision of the AML officer of the bank and fulfillment of all the cooperation requirements of the bank selected from those for which a positive pre-approval was obtained. At the second stage, the account opening service can be provided to entities and individuals who submitted a full package of filled out bank forms and certified documents to the bank and made a deposit to the account (as necessary), provided all other requirements of each specific European bank are met. At this stage, whether the bank will make a positive decision directly depends on the accuracy of the information provided by you since all other aspects have already been agreed on at the first stage; obviously, guaranteeing you the opening of an account under these conditions is overconfidence, if not a misleading, which is unacceptable according to the policy of our company. The bank always has the last word.
What are the advantages of cooperation with Regulated United Europe?
In case of cooperation with Regulated United Europe, you can be sure of a detailed review of the business model of your company and the fulfillment of our obligation to send relevant requests to a bank specially selected for you in good faith. Furthermore, you will certainly save your time, which, without pre-approval and preliminary selection of a bank in a professional manner, will be spent on finding the right bank, filling out applications/forms, preparing documents, waiting for a decision from the bank on whether you can open an account (in case of refusal, you will have to start all over again). But even in case of a preliminary refusal, you will certainly save your money, which would otherwise be spent on certifying documents, sending documents to the bank, and, in case of refusal, for re-certifying documents and sending them to other banks since the period of use of a previously certified set of documents will expire (3 months from the date of receipt).
Important final points
The pre-approval service is only provided for the purpose of opening current bank accounts (personal and corporate).
The information specified in the pre-approval form must be accurate and true. Please bear in mind that in any case the bank reserves the right to request additional supporting documents both at the stage of opening an account and in the course of operation.
It is important to adhere to the information provided in the pre-approval form. If during the second stage of opening an account the compliance department reveals that the data is inaccurate, there will be an increased risk of being refused to open an account and you will have to go through the process of re-selecting a bank and agreeing on a modified business model and, as a result, incur additional financial and time costs.
Open European bank account online for non resident
Opening a bank account in Europe for non-residents is becoming increasingly accessible thanks to the digitalisation of banking services. This offers significant opportunities for international entrepreneurs and individuals seeking to take advantage of Europe’s stable financial system without the need to be physically present in the country.
Advantages of opening an online account in Europe for non-residents
- Access to a stable financial system: European banks are known for their reliability and offer a variety of financial products, from rescue accounts to investment options.
- Improved business operations: Having a European bank account makes it easier to conduct transactions in euros, pay local suppliers and collect payments from customers in the EU.
- Tax and legal advantages: Many European countries offer tax incentives for foreign investors and entrepreneurs, which makes opening an account there even more attractive.
How to open an online account with a European bank
- Exploring options: First, it is necessary to determine which banks offer the possibility of opening accounts for non-residents online. It is important to assess the terms and conditions, fees, available banking products and minimum account balance requirements.
- Document preparation: Generally, opening an account will require a passport, proof of residence address (sometimes foreign), and proof of source of income or origin of funds. Many banks will also ask you to complete a tax residency questionnaire.
- Registration and verification: The process involves filling out an online form on the bank’s website, uploading the required documents and going through the identification procedure, which may include a video call.
- Account activation: Once the documents have been verified and the application has been approved, the bank will open the account. In some cases a down payment may be required.
Possible risks and challenges
- Language barrier: Not all European banks provide information or customer service in English.
- Regulatory requirements: European banks strictly adhere to KYC and AML regulations, which can complicate the process for non-residents without a clear financial history.
- Bank Fees: Account maintenance, transaction or currency conversion fees may be higher than expected.
Conclusion: Opening an online bank account in Europe for non-residents offers many advantages, especially for those seeking economic stability and international expansion of their business. However, the process requires careful preparation and understanding of local banking rules and regulations. It is advisable to engage the services of professional advisors to ensure compliance with all requirements and minimise potential risks.
Online bank account opening in Europe
In today’s digitised economy, the ability to open an online bank account offers significant advantages for international businesses and individuals. Europe, with its developed financial system and variety of banking products, offers a wide range of opportunities to open accounts online, making it easier to access financial services without having to be physically present in the country.
The advantages of opening a bank account online in Europe
- Ease of access: Opening an account online allows customers to manage financial transactions from anywhere in the world, which is especially important for those who travel frequently or conduct international business.
- Fast and efficient: Online processes significantly speed up and simplify banking transactions, reducing the time it takes to open an account from weeks to days or even hours.
- Minimising costs: Not having to visit the bank in person reduces associated costs such as travelling or time costs.
- Access to a wide range of services: Many European banks offer a wide range of financial products online, including multi-currency accounts, investment and savings products, and payment management facilities.
The process of opening an online account
- Researching and selecting a bank: The first step is to select a suitable bank that offers online account opening services. It is important to consider the bank’s reputation, terms of service, available products and user interface.
- Applying: Most banks require you to fill out an online form that includes personal details, financial activity information and proof of identification.
- Documents: You will need to provide scans or photos of your passport, proof of residential address (such as a utility receipt) and possibly a statement of income or origin of funds.
- Verification and Approval: The Bank will verify the documents provided and may request additional information or conduct a video call to complete the KYC (Know Your Customer) process.
Requirements and Limitations
- KYC and AML regulations: European banks strictly enforce anti-money laundering regulations, which requires thorough vetting of all new customers.
- Language barrier: Despite their international character, some banks may only provide services and support in certain languages.
- Bank charges: Some banks may charge fees for account opening, account maintenance or international transfers.
Conclusion: Opening an online bank account in Europe is a great solution for those looking for convenient access to high quality financial services. This process offers significant advantages in terms of convenience, speed and cost. However, potential customers should be careful when selecting a bank and be prepared for rigorous vetting procedures.
“Are you in need of a main or an additional bank account? Our experts would be able to assist you in that matter. With the network of our partners, we will be able to find a suitable option for your needs.”
FREQUENTLY ASKED QUESTIONS
Can I open a bank account online?
Many banks offer online account opening services. Check with the specific bank you're interested in for their online application process.
Is there an age requirement to open a bank account?
Most banks require individuals to be at least 18 years old to open an account independently. For minors, a joint account with a parent or guardian may be an option.
Are there fees associated with opening a bank account?
Some accounts may have fees, while others are fee-free. It's essential to review the terms and conditions to understand any fees that may apply.
How much money do I need to open an account?
The initial deposit requirement varies by bank and account type. Some accounts may have a minimum balance requirement, while others can be opened with no initial deposit.
Can I open a joint account with someone else?
Yes, many banks allow joint accounts. Both parties typically need to provide identification and agree on the terms of the account.
What types of accounts are available?
Common types of accounts include savings accounts, checking accounts, and certificates of deposit (CDs). Some banks may also offer specialized accounts like business accounts or money market accounts.
How long does it take to open a bank account?
The process varies, but it usually takes 20-30 minutes for in-person applications. Online applications may take a week or two for processing.
Can I open a bank account if I have bad credit?
Yes, in most cases, your credit history does not impact your ability to open a basic checking or savings account. However, certain specialized accounts may require a credit check.
Can I change or upgrade my account later?
Yes, many banks allow you to change or upgrade your account type as your financial needs evolve. Contact your bank for specific details on their account modification policies.
What security measures are in place to protect my account?
Banks employ various security measures, such as encryption, multi-factor authentication, and monitoring for suspicious activities, to safeguard your account information.
How can I access my account and manage it online?
Most banks offer online banking services through their website or mobile app, allowing you to check balances, transfer funds, and manage your account from anywhere.
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.
What documents do I need to open a bank account?
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.
Can Regulated United Europe assist me in opening a bank account?
Yes, Regulated United Europe 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.
What is pre-approval for a non-resident bank account?
Pre-approval 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 for your company.
In this case, regardless of whether the decision of the bank is positive or negative, you will benefit from it. If you obtain prior approval, you will be able to start preparing documents for opening an account. Clearly, prior approval does not mean that the account will be opened 100%, since the bank compliance department will make its final decision only after receiving a complete set of company documents; however, your chances to get it significantly increase due to the fact that the bank, after reviewing your business model taking into account information about you as a beneficiary, has already approved it. In case of refusal, you can choose other European banks offered by our specialist, without wasting your time waiting for the completion of the procedure for reviewing your package of documents and spending your money for certifying new sets of documents of the company for the bank and sending them to the bank. It may take more than one month to review the documents submitted, and thus the period of use of your certified documents (three months from the date of receipt) may expire.
Who is recommended to use the PRE-APROVAL service?
The pre-approval service is recommended by our company for activities that are considered high-risk by banks. Please keep in mind that most banks are not interested in providing their services to such clients, and choosing the right bank and opening an account for your company will take a lot of effort and time. The use and payment of the pre-approval service is recommended for companies engaged in the following activities:
Cryptocurrency trading and related transactions, Gambling (online casino/betting/poker rooms, etc.), Adult industry, Trading activities (foreign exchange/transactions with securities/binary options), Trade in precious metals/precious stones, Investment activities, Large cash transactions, Business related to advanced technology (including IT business)
RUE customer support team
“Hi, if you are looking to start your project, or you still have some concerns, you can definitely reach out to me for comprehensive assistance. Contact me and let’s start your business venture.”
“Hello, I’m Sheyla, ready to help with your business ventures in Europe and beyond. Whether in international markets or exploring opportunities abroad, I offer guidance and support. Feel free to contact me!”
“Hello, my name is Diana and I specialise in assisting clients in many questions. Contact me and I will be able to provide you efficient support in your request.”
“Hello, my name is Polina. I will be happy to provide you with the necessary information to launch your project in the chosen jurisdiction – contact me for more information!”
CONTACT US
At the moment, the main services of our company are legal and compliance solutions for FinTech projects. Our offices are located in Vilnius, Prague, and Warsaw. The legal team can assist with legal analysis, project structuring, and legal regulation.
Registration number: 304377400
Anno: 30.08.2016
Phone: +370 661 75988
Email: [email protected]
Address: Lvovo g. 25 – 702, 7th floor, Vilnius,
09320, Lithuania
Registration number: 38421992700000
Anno: 28.08.2019
Phone: +48 50 633 5087
Email: [email protected]
Address: Twarda 18, 15th floor, Warsaw, 00-824, Poland
Registration number: 14153440–
Anno: 16.11.2016
Phone: +372 56 966 260
Email: [email protected]
Address: Laeva 2, Tallinn, 10111, Estonia
Registration number: 08620563
Anno: 21.10.2019
Phone: +420 775 524 175
Email: [email protected]
Address: Na Perštýně 342/1, Staré Město, 110 00 Prague
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