One of the first and most crucial tasks that you will need to undertake in order to establish a European company is to open a bank account in your country of choice.

It sounds easy, it should be easy… but frequently it isn’t. In fact, sometimes it can feel like certain banks go out of their way to make it difficult!

''The long walk to the bank''

A number of banks require applicants to visit the bank in person in order to open their account, which is fine if you’re an Irish company and you want to open an account in Dublin. However, it’s not quite as convenient for those of us living outside Ireland.

Other banks insist that you provide them with a letter of introduction, duly translated and certified, from your bank at home. This is fine if you are fluent in the local language and have a good understanding of what’s required, but cumbersome and expensive if you aren’t and don’t!

There are also a number of banks that won’t even talk to you unless your annual turnover is in excess of €1 million. This isn’t much help if you want to get your European company up and running as quickly and cost-efficiently as possible.

At Mumtaz & Associates our aim is to make the whole process as quick and painless as possible. You can also be assured of personal service from our staff every step of the way.
Through our knowledge of local banking regulations and our relationships with International Banking Groups such as Barclays, HSBC and Royal Bank of Scotland, and our Ireland preferred partnership with AIB Bank & Ulster Bank, we help our clients to cut through the red tape and progress as quickly as possible. Where banks require you to visit in person, we will have a local representative on hand to assist you through this sometimes daunting process and we can negotiate a low minimum turnover threshold.

Our excellent relationship with the major banks means that in most jurisdictions you do not have to set foot in that country to open a Bank Account.