Company bank account opening is a difficult process to navigate if you don’t know where to start.
Which banking jurisdictions are stable and open to non-resident foreigners?
Which banking jurisdictions will enable you to access the best payment processing providers for your company?
Which banks offer the banking services you’re looking for?
Which banks charge the least fees?
And, which banks onboard foreign companies remotely and allow them to open a business bank account online?
There must be a lot of questions on your mind right now. Luckily, you’ve come to the right place.
In this article, we’ll guide you through the process of finding the best banking jurisdiction for your company.
Read on to learn how you can open a company bank account in some of the best offshore banking hubs in the world.
Company Bank Account Opening
The company bank account opening process will differ depending on the country and bank, you choose to open with, as well as the type of company you have. Read on to find out how to successfully open a company bank account internationally.
We’ll also share the top banking hubs where foreign business owners can open a company bank account in.
Here’s a look at the jurisdictions we’ll cover…
Table of Contents:
- Why Finding the Right Bank is Essential?
- USA: Company Bank Account Opening in the United States
- Company Bank Account Opening in Panama
- Opening a Company Bank Account in Singapore
- Opening a Company Bank Account in Cyprus
- Company Bank Account Opening in the UK
- Ready to Open an Offshore Bank Account?
Before diving in, if this is your first time visiting GlobalBanks, don’t forget to download your FREE Business Banking Starter Guide. It’s designed to help your business find and open accounts with the services you need around the world.
Why Finding the Right Bank is Essential?
Choosing the right bank to open a company bank account with is extremely important. In fact, it can have a large impact on your business’s success.
For instance, if you choose the wrong bank, you can be restricted in which countries you can transfer money to. So, if you have customers or suppliers in a restricted country, you’ll be stuck.
When it comes to choosing the right bank to open an account with, you must first understand the bank-specific account opening process. More specifically, the requirements you need to meet, fees that apply, challenges you’ll need to overcome, and much more.
By doing so, you can make an informed decision on whether or not a bank is the best fit for your client profile and banking needs.
To help you get started, we’ve compiled a list of some of the top banking jurisdictions where foreign business owners can open a company bank account. For each one, we’ve outlined the benefits of opening an account in that jurisdiction and how to approach the account opening process.
USA: Company Bank Account Opening in the United States

Why Open in the US:
The US is one of the most attractive jurisdictions for foreign business owners looking to open company bank accounts for many reasons.
The number one reason is that banking in the US gives you access to US credit cards, as well as competitive financing, business loans, and top-notch payment processing services.
In addition, unlike banking in other jurisdictions, to open a company bank account in the US you aren’t required to provide proof of ties to the US or have US residency.
How to Open in the US:
Company bank account opening in the US is 100% possible for foreign individuals, businesses, and even offshore companies. But, knowing which bank, branch, and banker to open with are crucial to your account opening success. This is especially true if you’re looking for the top corporate banking groups and the best business banks to open remotely with.
Challenges of Opening in the US:
While banking in the US has its benefits, it can also be expensive for foreign and offshore companies to open here. In fact, minimum deposit requirements can range from US $1,500 to US $100,000, depending on where and how you open an account.
There are also a number of restrictions on certain client profiles, eg. residents or citizens of certain countries.
Nonetheless, most of these challenges can be navigated by targeting the right bank to apply for an account with.
Start Opening in the US Today:
If you’re interested in opening a US bank account, the best way to get started is by reading our premium members-only report “US Banking for Non-Residents, Foreigners, & Int’l Businesses”. This report shares everything you need to know about banking in the United States. Including the unique benefits, you can unlock.
We also offer direct 1:1 support to help you find the ideal bank for your business banking needs and guide you step-by-step through the application process. This is hands down the best and most cost-effective way to set up a company bank account in the US.
You can access this report immediately when you join GlobalBanks USA.
Company Bank Account Opening in Panama

Why Open in Panama:
Panama is an accessible banking hub for many foreign business owners. Specifically, for those that use the US dollar. But it’s also a good option, for foreign business owners looking for a high-quality banking jurisdiction with smaller deposit requirements.
Another attractive feature of opening a bank account in Panama is that company bank accounts can be opened 100% remotely (if you know which bank to apply with).
How to Open in Panama:
Admittedly, it’s not a simple process to open a company bank account in Panama. Foreign business owners need to go through an intense onboarding process, which typically includes an exhaustive amount of paperwork.
For instance, you’ll need to submit accepted forms of personal identification, documents supporting your company’s structure, and proof that you can pay the initial deposit.
But, these strict requirements exist for a reason…
Challenges of Opening in Panama:
Since the 2016 Panama Papers scandal, banks in Panama have been working hard to clear their name. As a result, banking in Panama has become bureaucratic, time-consuming, and compliance-heavy. This has made it very difficult for foreign business owners to navigate the account opening process on their own.
But, if you can navigate the language barrier, find an experienced banker, and know which bank to work with, you can open a high-quality company bank account in Panama with minimum hassle and a low deposit. Here’s how you can get started today…
Start Opening in Panama Today:
To learn how to navigate these challenges and successfully open a company bank account in Panama, you can access our premium members-only report “Panama Offshore Banking: Ultimate Guide to Account Opening” by joining GlobalBanks IQ.
This report covers which Panamanian banks accept foreign companies, how to open an account 100% remotely, and how to navigate the account opening challenges.
You can access this report immediately when you become a GlobalBanks member.
Opening a Company Bank Account in Singapore

Why Open in Singapore:
Singapore is recognized as one of the best banking jurisdictions in the world because of its safe, well-capitalized, and responsible banking system. Not to mention its strong rule of law and low levels of corruption.
In addition, many foreign and offshore companies are attracted to Singapore because of the high-quality financial services, corporate banking solutions, and features it offers.
How to Open in Singapore:
Opening a company bank account in Singapore is 100% possible for foreign and offshore companies if you can meet certain requirements. And, with the right information, you can even open accounts remotely.
But, unlike in many other banking jurisdictions, banking here comes with a high price tag. To open a company bank account in Singapore, you typically need to make a six-figure deposit and meet an array of strict requirements.
Challenges of Opening in Singapore:
Company bank account opening in Singapore can be challenging to navigate. And, it can also be extremely expensive if you don’t know which banks to target and which bankers to apply with.
Singapore banks can pick and choose who they want as a client. If a Singaporean bank thinks your business won’t be valuable to them, they won’t think twice before turning you away.
So the key to getting into the Singaporean banking system is in knowing specifically who to apply with and how to approach the application process the right way.
Start Opening in Singapore Today:
If you want to open a Singapore company bank account, the best way to get started is with our premium members-only report “Banking in Singapore: Global Banking at Its Best (and How to Get In)”. This report shares everything you need to know about company bank account opening for foreign business owners. Including, the types of businesses that can and cannot open accounts here.
You can access this report immediately when you become a GlobalBanks member.
Alternatively, if you’re business is involved in the gambling industry, you’re going to have different banking options to choose from. Account opening requirements for an online betting website, include proof of mailing services for gambling sites, which you can learn more about by clicking the link here.
Opening a Company Bank Account in Cyprus

Why Open in Cyprus:
Cyprus is an attractive banking option for foreign business owners who require transactional EU banking but are struggling to open elsewhere. If that’s your situation, opening a company bank account in Cyprus is a very good option to consider.
And, unlike opening accounts anywhere else, Cypriot banks don’t require new applicants to make sizeable deposits. This makes the country an appealing option for smaller foreign companies to get their foot in the door of offshore banking.
How to Open in Cyprus:
Company bank account opening in Cyprus is similar to most other banking jurisdictions. In order to open an account, you’ll need to meet bank-specific requirements and submit the required documentation. On top of that, you’ll also need to follow strict compliance regulations and navigate the account opening challenges.
Challenges of Opening in Cyprus:
The biggest challenge foreign business owners face when opening accounts in Cyprus is opening with the wrong bank. In fact, if you choose the wrong bank, you may be stuck facing unnecessary fees, payment processing restrictions, and even the possibility of account closure.
However, you can avoid these challenges completely with the right information, know which bank to apply with and understand the quirks of opening an account in the country.
Here’s how you can open a company bank account today in Cyprus…
Start Opening in Cyprus Today:
If you’re interested in opening a company bank account in Cyprus, you need to read our premium members-only report “Banking in Cyprus: Transactional Business Banking in the EU”.
This report covers which banks accept foreign non-resident businesses, the specific account opening requirements, and how to open a company bank account 100% remotely.
You can access this report immediately when you become a GlobalBanks member.
Company Bank Account Opening in the UK

Why Open in the UK:
The UK is a leader in global finance for its economic and political stability. And, since it’s the world’s largest banking hub, it’s no surprise many foreign business owners are interested in opening company bank accounts here.
Though banks in the jurisdiction are typically very open to international clients, account opening for foreign companies can be tricky.
How to Open in the UK:
UK banks are strict when it comes to opening accounts for foreign companies. To successfully open here, you need to be seen by the bank as a valuable banking client. In other words, you need to deposit a considerable amount of money, invest in the bank’s products, or purchase services directly from the bank.
This is of course in addition to meeting all bank-specific requirements. Including submitting accepted forms of personal identification, supporting company documents, and proof of sufficient ties to the UK.
Challenges of Opening in the UK:
The most common challenge a foreign company will face when opening a company bank account in the UK is providing valid proof of an acceptable UK address, UK phone number, and local signatory.
In fact, if you’re unable to meet these specific requirements, your chances of opening an account here are very slim. That said, it is still possible (with the right information). Here’s how…
Start Opening in the UK Today:
In our premium members-only report “UK Banking for Non-Resident UK LLPs & UK LTDs” you’ll get a full breakdown of how to open a company bank account in the UK, including the best banks for your client profile and the specific requirements you will need to meet. You will also find our best strategies for navigating the strict UK address and phone requirements.
You can access this report immediately when you become a GlobalBanks member.
Ready to Open an Offshore Bank Account?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
+ Direct support from a team of banking experts
+ Direct introductions to your desired banks
+ Answers to your most pressing questions and challenges
+ Expert insights on which banks to choose & why
+ Plus, FULL access to our entire suite of account opening tools and intelligence!
And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
Use this link to see how GlobalBanks Insider can help you successfully open accounts.