Any company owner targeting foreign markets needs to learn about ways of bank account opening for a legal entity abroad. If planning is not based on up-to-date information and sound advice, you will almost immediately face some discouraging challenges along the way. Therefore, it is important to learn in advance how you can open an account abroad no matter what, where you can turn for assistance, how you can save your efforts, time, and money.
When would a non-resident (foreign) company require an account abroad?
There can be different situations and reasons.
Your company enters new markets and needs an account in the country for the convenience of mutual settlements with suppliers and customers.
Your company diversifies risks and opens several accounts in different countries to protect assets.
Your company has entered into a favorable agreement with a foreign partner who is not ready to work directly with the account in the country of registration and asks for an intermediate account in a more familiar jurisdiction (for example, in the EU).
Whatever your purpose may be, the question is: Where should you open a foreign account for your company? On what terms? How long does it take?