When incorporating a company abroad, we apply for our clients to
business accounts for their new company together with internet
banking, credit card and cheques. In many countries it is
required that the ultimate beneficial owner and/or the signatory
of the account attend in person at the branch (e.g.
Panama, Spain and USA).
One exemption is Cyprus:
generally we can open up business accounts for all international
companies on Cyprus;
the attendance of the ultimate beneficial owner or signatory is
Also in Switzerland the attendance of the
ultimate beneficial owner or signatory is not mandatory.
However, banks in Switzerland ask
for high deposits or proof of a positive business development.