Banks are constantly changing account opening policies, adding new requirements, and spending billions on compliance. They are desperately trying to keep up with changing laws, keep authorities happy, and avoid penalties. 

In the 1980s, you could walk into any bank with a briefcase full of cash, no passport and a 1-day business and you would have an account open in less than 10 minutes. Bankers didn't care where you were from, whether your company had ties to the country, or what your plans were for the business. 

Opening bank accounts today is totally different. Now, bankers still have the motivation to open accounts. But they have no interest in wasting time in a company that will never surpass compliance.

Bankers avoid dealing with clients who will not pass that they do not meet basic standards as it is not a good use of their time. They have to enforce regulations and ensure that the bank is not exposed to risky customers, resulting in fines, investigations or even closure.

That's why success in opening an account depends on both you and your approach. You should choose the banks that best suit your business profile, that want your company's business and accept international companies as customers.

You need the right strategy for opening accounts, which can vary drastically based on your industry, background, and a host of other factors. But all these considerations about opening accounts are constantly changing, Foster Swiss keeps up with all the regulations and can advise you. 

If you do not carefully consider your presentation to the bank and take care of each and every detail and requirement, you could put a red flag on your offshore company and be blacklisted by the bank or end up on the informal list of "undesirable people" throughout the industry.

The first thing you need to do is decipher these questions because you need to know the answers before you present yourself to the bank.

 Does the bank accept your specific type of international company and ownership structure?

 Does the bank accept your specific type of business (industry, business activities)?

 Which account opening strategies will work best for you and your company?

 What account opening strategies actually work at the bank you are applying to?

 What are the bank's likes, dislikes, preferences and sensitivities? (Every bank is different?)

 What are the bank's transaction preferences and what do they not like?

 Does the bank consider you or your industry to be high risk?

After considering these questions, choose the bank that most closely resembles your requirements and needs, but that, in the same way, has similar values that can make the process of opening an offshore account somehow easier.

We know that it is a process that can be tricky, that is why Foster Swiss for at your service the best consulting services in the field of finance.

We help you in practically everything, we provide you with personalized advice from the moment you choose a corporate structure for your company, until even one year after you have incorporated your company and we take care of the whole process for you.

For more information on this topic or any requirement related to our services, you can contact us directly through info@fosterswiss.com