Opening a bank account abroad


Moshe Strugano & Co provides companies, institutions and individuals with all-inclusive legal counsel regarding their activities abroad, and within the framework of its specialties, inter alia, assists its clients in opening business and personal foreign bank accounts.

Choosing the country in which to open a bank account, which is not necessarily the same destination in which the company was established, is just as an important of a decision as choosing the country in which to establish the company. Different banks in different countries impose various requirements on the applicant prior to approving the opening of an account. As with choosing in which country to establish the company – there are many factors that must be taken into consideration upon choosing the most fitting country to open an account and manage its daily operations, so that it will suit the company’s business objectives and needs.

One of the main reasons that professional facilitation upon opening a foreign bank account is so important today, is due to the exponential increase in regulation and supervision of banks worldwide over the past few years. Most foreign banks request companies, prior to opening an account, to execute a proper disclosure procedure and due diligence, in which the applicant must provide detailed and sensitive information regarding their sources of income, practice areas, business plans, relations to different financial institutions and more.

The firm’s legal support during these processes allows every client to experience the process in the best way possible, allowing them to quickly and efficiently open a bank account, without harming their necessary autonomy.

Moshe Strugano & Co. tailors its services to the specific personalities and business agendas of each and every client, and holds the necessary knowledge and understanding in order to take into consideration the entire spectrum of relevant characteristics, which will lead to choosing the foreign bank which will serve the client's needs to the fullest extent. Within this practice, the firm takes into account both the client's distinguishing traits – their field of work, financial management and business goals, as well as the bank's attributes – its stability, capital adequacy ratio, country and bank credit ratings, regulation arrangements, relevant governance and more.

In addition, the firm’s vast experience in this field has familiarizes it with many financial factors around the world, allowing its clients to enjoy quick and efficient procedural proceedings.

The all-inclusive service offered by the firm allows its clients – whether companies, institutions or individuals – to enjoy the many advantages of opening a foreign bank account.