Opening an account for an individual entrepreneur (FOP) abroad
The Ukrainian banking system is undergoing constant changes and tightening. Currency restrictions, limits on the sale and crediting of funds, exchange rate instability and the inability to withdraw currency – all this forces the opening of an account for sole proprietors abroad.
An account abroad for an entrepreneur is the foundation of a long-term relationship
Today, an account abroad is a legal and effective financial instrument that allows you not only to properly manage your profits, but also to take timely steps to protect them. In addition, such a tool significantly increases the trust and prestige of foreign customers.
Bank or neobank (payment system) – what to choose?
Important in the success of long-term business relationships is the selection of a banking or non-banking financial institution. When approaching the selection process, it is important to consider several factors:
- direction of activity (KVED)
- planned number of incoming / outgoing transactions
- volume of incoming / outgoing payments
- the ability to seamlessly make payments to customers, partners, suppliers
- payment geography
- account opening speed
All these criteria make it possible to perform an individual selection of two or more accounts abroad for an individual entrepreneur with a direct IBAN and complete currency freedom in settlements. And it is the presence of two or more corporate accounts that allows this to be achieved.
At the moment when the business begins to grow, keeping finances in one bank increases the risks. Sudden blocking of corporate accounts, chargebacks, changes in bank policy – all this leads to a halt in transactions, and with it the loss of contracts and reputation. That is why you should immediately consider opening multiple accounts abroad. And it is best to do this with the help of a company of professionals, since the price of one seemingly small mistake in this matter at one of the stages may be too high.
Professional assistance increases the success of opening an account abroad by 80%
Independent selection of a bank or payment system can lead to the opening of an absolutely non-working financial solution, loss of time, and even refusal of the institution to service your account.
Finance Business Service experts offer their assistance in the selection, support and opening of an account for an individual entrepreneur (FOP) abroad. Take advantage of our advice to get an individual solution for your international business!