Bank accounts opening

Offshore banking has increased rapidly all over the world since mid-1960s because of the growth and liquidity of world financial markets. The full spectrum of financial services from offshore banks include deposit taking, money transmissions, provision of foreign exchange, trade finance, credit facilities, investment custody, investment management, fund management, trustee services, and corporate administration.

Offshore banks provide access to politically and economically stable offshore jurisdictions that may be an advantage for those who are resident in areas where there is a risk of expropriation or where there is corruption within the banking system. Many offshore banks offer services that may be unavailable in one’s country of residence. Offshore banks in several nations participate in mandated bank account deposit protection insurance systems. Some offshore banks may even provide higher interest rates than banks in the home country.

The bank account introduction is a professional service provided by IFA Consulting as an approved bank intermediary. Our professional expertise can significantly increase the success rate for account opening, however we cannot guarantee the bank will open an account for every client. We also can reduce potential application hold ups with incorrect or missing documents that the client may not have been aware of.

Bank accounts are chosen based on individual approach for every client.

Factors we consider when recommending banks: client’s citizenship and country of residence, types of transactions involved (trading / manufacturing / real estate / investment), volume of payment transfers, investment requirements, confidentiality, soft currency requirements, as well as language issues when communicating with the bank.

After selecting the bank, we proceed to consult the client in preparing due diligence documents, their personal and business profile write-up and completing the bank application forms. We also arrange for client identification and signing of bank forms in locations convenient for the client (not just in Latvia). After our final review, we forward the documentation to the bank and follow up with on the account opening progress and respond to any further inquiries made by the bank.

See for credit rating of certain banks at the company’s page FITCH Inc

For more information, please contact us.