The easiest way to open bank account remotely in foreign banks (2020)

Are you looking for a reliable overseas bank for your domestic or offshore company? Are you a Forex trader or a Bitcoin owner and have difficulties opening a bank account? Do you want to protect your assets and fund? This page is for you. Here is the solution.

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Oobac advisors are official agents and business partners of many banks. We open bank accounts for you at the most reputable, trustful, and popular banks. We assist you to get your corporate or personal account, as well as a pseudonym account.

Open Bank Account For Business

Open bank account for business is the most common inquiry that we receive every time. Most of the companies would like to expand their businesses globally and offer their products and services to overseas consumers. Thus, a foreign multi-currency bank account can help them to receive different types of currencies. It is a cost-efficient approach if we would be able to pay our service provider with different currencies without paying for the exchange rate. There are more advantages to use a foreign bank account for your business. In our other article "Why open an offshore bank account?", we have explained in more detail.

Domestic (Onshore) Company and Overseas Bank Account

You might have a local company in your city of residency. Domestic companies are normally performing their business locally within certain areas.

When local companies try to expand their business globally, a foreign bank account that supports different currencies is a must. Without a flexible bank account, it is impossible to do business with other countries.

It is also more convenient when you pay your service providers with the currency they invoice you. For example, assume one of your service providers is located in Europe and invoice you in EUR currency. You can pay them with your EUR account directly without paying an additional currency exchange rate. Some banks even provide you with a low transaction fee when you send money to the bank that is located in the EU area.

Oobac can open your company's account with the fastest and easiest way.

List of banks

domestic company and overseas bank account

Do you have a local company in your hometown?

Get your overseas bank account and expand your business globally. Pay and receive globally.

List of banks

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domestic company and overseas bank account

Offshore Company and Bank Account

An offshore company is a company you establish in a foreign country that has low or zero tax obligations.

It is a very good choice for startups and new businesses that are looking for a cost-effective company structure.

There is a possibility to get a corporate bank account for your offshore company exactly in the same country; however, we normally suggest having a different bank account in a different jurisdiction. This will make your business structure more secure and private.

Although offshore companies have now become very stable and useful, they are normally offered by small and developing countries. They do not have as much power as large and developed countries, so it is better to keep the account and company separately unless you have specific reasons.

This is a professional way to use an offshore company.

List of banks

offshoe company and bank account

Want a bank account for your offshore company?

Just give us some information about your company and your needs. We will provide you the best possible solution.

List of banks

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Personal Bank Account

Opening a personal bank account in overseas banks is not as difficult as a corporate account. In the current situation of the world, it is reasonable to diversify your assets and funds. Having your funds in different banks from different countries is a wise choice.

An overseas bank account is very useful for freelancers who work from home. You can get paid with the currency of your choice and spend it whenever you like. Most banks offer a debit card that can be used everywhere globally.

Pseudonym Bank Account

Opening a bank account under an alias is possible only in one bank. This is a AAA class private bank in Liechtenstein.

The pseudonym account is a type of personal account and only offered to high-end clients. There is no such an account for corporate.

Please note that this is different from the so-called "Number Account" which is not sufficient without a name. Pseudonym Account has a name, so you can use this account in a normal way and your real name is never revealed.

Opening Bank Account For Forex Traders

Foreign Exchange Currency (Forex) trading is one of the largest markets in the world; however, opening a bank account in foreign banks to deal with Forex brokers becomes very difficult.

Due to some limitations in the home country, people tend to register in Forex companies outside of their country of residence. Thus, they try to open bank account in other jurisdictions.

Some prefer to incorporate an offshore company and trade with their company. There are only a few offshore banks that accept clients who are active in Forex trading. The first condition is that you should only trade with your own fund. Trading with third party funds strictly prohibited unless you have a valid license.

open bank account for Forex traders

Are you a Forex trader and need a bank account?

We can assist you to open bank account in foreign banks that accept transactions from/to Forex brokers.

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open bank account for Forex traders

PayPal Bank Account

One of the easiest ways for companies and businesses to get paid is using services like Paypal, Neteller, Skrill, and the like.

Each of them has its own requirements, regulations and limitations. It is not easy to get an account for all offshore companies if you do not meet their requirements. Especially, opening a Paypal bank account needs its own business structure. First of all, you need to make sure that Paypal has an office in the country you would like to incorporate your company. You can check the list of countries from the following link:

List of countries Paypal supports

In most cases, you need to show that your company has a bank account in the same jurisdiction as your company. So, we suggest you consult with one of our advisors or Paypal before establishing your offshore company.

Bitcoin friendly bank account

Do you need a Bitcoin-friendly bank account?

Although many big banks prohibit buying/selling Bitcoin and other cryptocurrencies like Ethereum (ETH), XRP, Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP) and etc using your bank account or debit/credit, there are still banks and financial institutions that allow you to buy bitcoin and similar cryptocurrencies.

List of banks

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List of Banks

Here is the list of banks we are working with but not limited to. Each bank has its own terms and conditions to open bank accounts.

Liechtenstein Banks

Liechtenstein Banks

You can open a bank account with a very reputable, trustworthy bank in Liechtenstein. This is a Private Bank with AAA rate!! The bank offers HIGH security and outstanding investments. Additionally, you can get a Pseudonym Account with this bank (for personal accounts). You can get extraordinary results for your investment with the opportunities that the bank can offer you. Normally, opening an account in this bank is not so easy, especially with the Due Diligence in the law of Liechtenstein. You have to pass all regulations and learn how to be patient. The initial deposit and minimum balance for this bank is very high. Thus, we only suggest you this bank if you have enough funds to meet their requirements and enjoy the investment products they offer you. You can get a perfect relationship with this bank, including a superior strategy to increase your money. Both personal and corporate accounts can be opened, as well as Pseudonym Accounts.


Initial Deposit: between EUR 100,000 to 300,000


Personal visit is not required.


Service fee (Personal account): EUR 2799.00

Courier fee: EUR 70

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Service fee (Corporate account): EUR 2999.00

Courier fee: 70EUR

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Cyprus Banks

Cyprus Banks

Cyprus is a small island on the Mediterranean Sea. It is divided in two-parts north and south. The north part is controlled by Turkey. Banks in this part of Cyprus have more flexibility and are more open to offshore companies. The south part is known to be a financial center and it is a part of EU countries. These are a few well-known banks in this part and you can expect tight security and exceptional service from these banks, as well as the standard of the EU. They are very open to opening a personal account for foreigners; however, for a corporate bank account, you need to follow some sort of structure. They do no longer accept non-audited offshore companies. If you need a flexible bank account in Cyprus, you can incorporate a Cyprus company with no tax. Cyprus offers a very good low (zero tax) company formation and business licensing to foreigners. Please note that some licenses required to have a local director, in such cases the company will be subjected to the tax; however, Cyprus has the lowest tax rate in Europe which is 12.5% on profit.


Initial Deposit: between EUR 500 to 6,000


Personal visit is not required.


Service fee (Personal account): EUR 1099.00

Courier fee: EUR 70

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Service fee (Corporate account): EUR 1199.00

Courier fee: 70EUR

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Belize banks

Belize Banks

Belize has a very sophisticated and comprehensive system. There are a few banks offering various services to offshore companies; however, their required documents are more than other banks.


Initial Deposit: between EUR 500 to 6,000


Personal visit is not required.


Service fee (Personal account): EUR 1099.00

Courier fee: EUR 70

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Service fee (Corporate account): EUR 1199.00

Courier fee: 70EUR

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Puerto Rico Banks

Puerto Rico Banks

It is a none-CRS country with high privacy and security. Because Puerto Rico is following US regulation, they do not participate in exchanging the information with other countries, so your information is safe and secure with banks in Puerto Rico. The banks offer flexible multi-currency accounts to their clients. You can have a personal and corporate account there.


Initial Deposit: EUR 500


Personal visit is not required.


Service fee (Personal account): EUR 1099.00

Courier fee: EUR 70

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Service fee (Corporate account): EUR 1199.00

Courier fee: 70EUR

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Mauritius Banks

Mauritius Banks

There are more than 20 banks in Mauritius that are licensed by the Bank of Mauritius. They provide a wide range of services like multi-currency account, internet banking, debit card, and international banking.


Initial Deposit: between EUR 5,000 to 30,000


Personal visit is not required.


Service fee (Personal account): EUR 1099.00

Courier fee: EUR 70

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Service fee (Corporate account): EUR 1199.00

Courier fee: 70EUR

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Why Oobac

WHY
work with OOBAC
?

1

We have been in this business for more than 15 years.

2

We have successfully opened more than 1,000 quality overseas bank accounts.

3

We find the most suitable bank for your needs.

4

We will guide you on how to use your e-banking if your English is not enough.

5

We provide free consultation via email, Skype, Line, and phone.

How we work
1 STEP

Contact us via oobac. We have a secure internal messaging system in which we provide free advice in English and Japanese language. Do not worry, you can ask as many questions as you have. We try to understand your business activity and the purpose of the account. This is very important, the more we know about your intention, the more we can assist you to select a suitable bank.

2 STEP

Once we fully understand the purpose of the account and your company business activities, we will suggest some suitable banks to choose from.

3 STEP

We collect the initial information and documents to communicate with the selected bank. This is to get the green light or a pre-approval letter from the bank. For some specific business activities, we might need to check with several banks to get the pre-approval.

4 STEP

Once we receive the pre-approval from the bank, we will prepare the complete application form. You need to print every page, sign the specified places, and send the original forms and documents to our office. Normally, we will check the scanned copy of the forms first to make sure everything is in order and then we will ask you to send us the original ones.

5 STEP

Once we receive the original forms, we will sign and certify the forms and submit them to the bank. This stage might take longer because the compliance department of the bank needs to check all the documents and application forms. They may ask for additional information and documents which we will inform you to prepare.

6 STEP

We will inform you when the account is fully approved and provide you with an official letter or email from the bank. We have successfully completed our job. From this stage, you need to communicate with the bank directly because this is your account and we are not allowed to interfere any longer. You need to deposit the required initial deposit and activate your account.

Some useful information

Open Bank Account Requirement

The documents required to open a bank account vary between banks. Each bank has its own regulations and requirements, so they may ask for more documents and information. In general, the following are the most common documents that banks ask for personal account:

1) Notarized copy of passport
2) Notarized copy of Proof of Address within three months (it can be utility bills like electricity bill, water bill, etc).
3) Updated CV (Resume)

For the corporate account, you need to provide the above mentioned documents for any person involving in the company structure like directors, shareholders, nominees, and beneficiary owners. In addition, you need to submit a notarized copy of your company documents. If you have incorporated your company with us, we will take care of this part and will provide all these documents.

Some banks may ask for additional documents later after reviewing your initial documents and CV. All documents must be in English or a language that banks requires.For example, if your company documents are in the Japanese language you need to ask an official translator to translate and certify them. Please contact us if you need any help in this matter. We can help you to translate your documents from Japanese to English by a Certified Translation Company

Initial Deposit

An initial deposit is a fund that you deposit to your new account to activate it. Each bank has its own specific initial deposit and it varies between banks. Most of the banks request between 500$ to 1000$; however, there are banks that require you to deposit 25,000$ to 300,000$. In Oobac, we try to open bank accounts in banks that have minimum requirements.

Certification of Documents

For opening a bank account, you need to get all your personal documents, uch as passport copies, proof of address, ID copies, to be certified by authorities.

None certified documents considered as not valid documents.

One way is to go to the notary public or other authorities near your place and get your documents certified. If you are uncomfortable to certify or translate your documents in your hometown for your privacy, there is an online certification company which certify your documents officially. Please contact us if you need more information regarding this company.

In addition, our advisors are the official agents, eligible introducers, and business partners with many banks. We can certify your documents for some of those banks.

Credit Cards / Debit Cards

Normally, most of the banks we work with offer debit cards or ATM cards that can be used everywhere. So, you can withdraw cash at any ATM, buy your grocery, and purchase online. Some banks offer different types of credit cards too; however, there are some limitations for non-residents' account holders. Please contact us for more information.

You Are The One Who Manage The Account

We in Oobac will support you in opening the bank account (corporate, personal, or anonymous). Once the account is opened, you are entirely responsible for managing and handling the account. Even though we are the bank's business partner and official agent, we are not authorized to make changes to your account. The banks and mobile wallet institutions have strict security policies that we should follow. This includes placing the power of account responsibility to you, the account owner. Although in some company structures, nominees are directors or shareholders, we will introduce the beneficiary owners as authorized personnel to manage the account. So this will assure that you have the full power to control your account.

Banking Systems

Each bank or mobile wallet institution has its own banking structure and system, which might vary between countries. Make sure you have an adequate understanding of their system, procedure and ploicy, so you can work with your account easier.

Communicate With Your Direct Account Manager

Some banks introduce a direct account manager who can help or assist you during your banking experience with them. Make sure to communicate with your account manager to get better information and offers. Sometimes, banks offer new products or interesting investment opportunities that can be useful for you. Building a good relationship with your banker brings you more advantages.

What Is A Checking Account?

A checking account is a form of the deposit account held by a bank or a financial institution. It is often called a current account, transactional account, or demand account. Checking account holders use it for their everyday transactions because it usually allows unlimited numbers of deposits and withdrawals. The funds in checking accounts are accessible via checks, e-checks, automated teller machines, ATMs, and electronic debits. This is a very convenient bank account to pay bills, shop online or execute an online transfer. Banks offer a few types of checking accounts like student account, joint accounts, and commercial accounts. Commercial accounts are used by businesses to carry on their day to day transactions while joint accounts are mostly used by married couples or partners. Some banks provide checking account for students with low and zero maintenance fee, so they can use this account until they are graduated.
This is a cheap and flexible bank account. Banks normally do not make much profit out of it. They use it as a marketing tool to attract customers, so they can offer more profitable services like loans, credit cards, and certificates of deposit.
Make sure to ask the banker about the minimum balance requirements and overdraft fee when you are opening a checking bank account. Some banks apply a higher maintenance fee for low balance accounts and have high overdraft fees.

General FAQ

What is a current account?

In the banking industry, a current account is a checking account held by a bank or a financial institution.

How open bank account online?

Nowadays, the big local banks are offering online and mobile banking. Most of them allow you to register online and get your bank account online; however, this will be a little bit different for overseas banks. Usually, foreign banks eventually require you to submit all original certified documents and application forms. Filling the bank application form is not as easy as it looks. The best way to open an overseas bank account is to consult with the bank's agents. You can communicate with them via the internet and they will assist you to get your bank account easier. We are in Oobac proud that we have helped more than thousands of our clients to successfully open their foreign bank account.

Oobac Messaging System

Please use Oobac messaging system to send us your questions. Our customer care and support team are always checking it and will back to you as fast as possible. We are providing customer care in Japanese and English Languages. Feel free to contact us at any time.

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Arch. Makariou III & Evagorou, 1-7, MITSI 3, 1st floor, Flat/Office 102 1065, Nikosia, Cyprus.

Email: contact@oobac.com

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NOTE:We provide free consultation via phone, Skype, line, WhatsApp, and the like. Please register in Oobac and request for a phone number if you prefer to talk via phone. For the Japanese language support please use Oobac messaging system or Skype. Feel free to contact us at any time.

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