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Bank account opening under high-risk business in the EU and abroad

Reliable Bank account

One of the first objectives each company aims to obtain after the incorporation is a reliable Bank account for the business. A corporate account for any type of legal entity is a crucial instrument and nowadays to start the collaboration with a financial institution could be a complicated milestone. Tricky scenario if the owner or director of the company is not a resident of the country where the business is intended to be handled or the operating activities itself fall under "high risk". Gofaizen & Sherle has established long-term interrelation with numerous financial institutions and aware of their internal onboarding policy. Depending on the corporate structure, business activity and risk level, we can outrightly identify the probability of success in the case of specific banks or introduce you to the right financial institutions, lead you through the steps for the successful account opening and even take care of the whole process from the application part to the actual business account opening on your behalf

Practice areas

Operating activities which considered as “high risk”
  • Virtual assets trade and exchange
  • Sales of goods/services to high-risk countries
  • Gambling and online casinos
  • Sale of medicines
  • Internet auctions
  • Sale of firearms
  • Sale of jewelry
  • Lending and leasing
  • Telemarketing
  • Adult content
  • Investments, remittances
Other criteria which considered as “high risk
  • The shareholders and/or directors of the company are non-residents of the European Union
  • The company has existed for less than a year
  • The company is experiencing financial difficulties
  • The owner of the company provided inaccurate information about the activities of the business and legal address
  • The company and the owners have a unsatisfied credit rating

Preparatory scope of works

Our methodology includes an integrated approach in opening a corporate account for the company. The project will be kicked off after a thorough analysis of the Client needs and compared to financial institution requirements. The preparatory scope of works prior to application submission include the following:
  • Analysis of the needs
  • Analysis of the company legal setup and business model (operating activities)
  • Provision of the best-fit financial institution list for further application submission
  • Consultation on the optimal corporate structure to meet banks expectations (if necessary)
  • Assistance in preparation/adjustment and formalization of business plan and description of operating activities
  • Provision of recommendations on the list of necessary documents to be collected for filing an application

How we do it

  • 1
    1
    step
    Match
    Identification of the company activities, the risk level of the business, legal structure and background of the company major actors. Match, search and proposition of the most suitable 2-3 financial institutions.
  • 2
    2
    step
    Execution
    Preparation of the documents and filling out applications based on the requirements of selected Banks. Introduction to the Bank clerks.
  • 3
    3
    step
    Post-onboarding support
    After the provision of the approval from the Bank, our consultants will support in any future communications and requests.
Sequence of delivering the results
chart
Sequence of delivering the results
As a result of the first workshop, Gofaizen & Sherle. will be introduced with information about the corporate structure and legal setup of the Client company. Also, expectations towards preferred financial institutions and jurisdiction of choice to open a corporate account are discussed.
According to the legal structure and expectations, a long list of banks is prepared, onboarding requirements and procedures are presented to the Client. Afterward, 2-3 most suitable options to proceed were identified.
Corporate documents (AoA, utility bill, notarized passport) are collected and the applications for account opening were filled within 2-3 Banks.
The Client introduced to the Bank. Negotiations with Bank clerks are initiated and all the documents were submitted.
Support with on-going communication with Bank representatives provided until full onboarding of the Client is completed.
In case the Bank has approved the Client, the success fee of Gofaizen & Sherle should be paid according to the proforma invoice. If the Client fails the verification and onboarding process within the selected Bank, Gofaizen & Sherle is committed to conducting the process all over again.
While communicating with Clients, we deeply understand the importance of such a necessary and significant aspect in every business as a corporate account as well as the difficulties met ​to open one. Many decent organizations which considered to be in a high-risk category are struggling and got stuck on this step, which forces to shut down their companies because of the impossibility to carry on without the right solution for their business. Gofaizen & Sherle are ready to assist with the right banking solution for any company worldwide at all risk levels.

Other infrastructure set up services

  • Search for commercial and noncommercial spaces (apartments; office; retail; warehouses and industrial premises)
  • Verification of the rental agreement for compliance with Client conditions
Business premises search
  • Human resources market research in European jurisdiction of choice (identification of median wage in the field; analysis of labor force quality and availability)
  • Search for potential candidates; shortlisting and interviewing
Human resource management
  • Website development (corporate website, website catalog, online store, portal or online service, landing page)
  • Domain configuration and corporate mailboxes set up
  • SEO and SEA set up
  • Voice IP (direct numbers in any cities of the world)
IT environment

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Contact
Lõõtsa tn 2a, 11415 Tallinn, Estonia
Žalgirio g. 88-101, Vilnius, Lithuania
License for operating activity: FIU000407
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