Search
  • Русский
  • Español
    • Why InternationalWealth?
    • Contact us Now
    • Payment
    • Confidentiality
    • How to Start
    • Information for HNWI
      • Luxury real estate for HNWI/UHNWI
      • Family Office
      • Premium Offshore Services
      • VIP-Lifestyle
      • Offshore Precious Metals
    • Русский
    • Search

    Enter your search text

    InternationalWealth.info

    The biggest portal about international asset protection and diversification

    +507 848 3045
    +44 7700 304814
    +372 5 489 53 37
    +381 6911 12327
    Products and
    services ➝
    InternationalWealth.info

    The biggest portal about international asset protection and diversification

    +507 848 3045
    +44 7700 304814
    +372 5 489 53 37
    +381 6911 12327
    Products and
    services ➝
    • Main Menu
      • Services and Products
    • Offshores, Midshores, Onshores
      • Offshore Companies
      • Offshore Jurisdictions
      • Offshores
      • Deoffshorization
      • SUBSTANCE – Real Presence
      • Offshore and Anti-Offshore legislation
      • Offshore Wisdom
      • Offshores for Beginners
    • Asset Protection
      • Offshore Trusts and Foundations
      • Asset Protection
      • Cryptocurrency
      • All about Fintech
      • Anonymity Offshore
      • Offshore Assets Inheritance
      • Intellectual Property Protection
      • Offshore Investments
    • Citizenship by Investment
      • Second Citizenship and Passport
      • Permanent Residence Permit Abroad
      • Tax Residency
      • Resident Visa
      • Travel Visa
    • Business Abroad
      • Business Abroad
      • Startup Abroad
      • Free Port
      • IPO Abroad
      • Holdings Abroad
      • Offices for Business Abroad
      • Business Connections Abroad
      • Legal Services Abroad
      • Accounting Services Abroad
      • Audit Abroad
    • Immigration
      • Emigration and Immigration
      • Business Immigration
      • Offshore Real Estate
      • Life Abroad
      • Expats Life
      • Study Abroad
      • Offshore Retirement
      • Overseas Employment
    • International Taxation
      • Tax Planning
      • Offshore Taxes
    • Foreign Banks and Accounts
      • Foreign Bank Accounts
      • Offshore Bank Accounts
      • Offshore Payment Systems
      • Own Offshore Bank
      • Offshore Broker Account
      • Foreign Bank Cards
      • Offshore Banks
      • Offshore Merchant Account
    • For Professionals
      • Offshore News
      • Offshore Consultants
      • Our Readers
      • Offshore History
      • Offshore conferences
      • Advertising on the Portal
    • Travelling and Treatment Abroad
      • Offshore Travelling
      • Medical Tourism
    image - List of Documents
    Main page » Foreign Bank Accounts
    February 17, 2022

    List of Documents for Opening a Foreign Account for Non-Residents

    This article answers the most frequently asked questions about the list of documents required for opening a personal account with a foreign financial institution. 

    Foreign financial institutions include banks, brokerage companies, payment systems, and other providers of payment and financial services. 

    image - List of Documents

    The main document confirming the client’s identity is the valid passport or government-issued ID. If this document is executed in a language other than English or the language of the financial institution, you need to submit its scanned copy and a translated notarized copy.

    The second document is the proof of your residence address. This can be a bank account statement indicating your full name and details of the utility bills. Ask your bank to issue it in English. This will save you some expenses and time associated with translation. You can also submit the latest utility bill in your name. Please note that most banks do not accept a copy of the passport page mentioning the client’s address as proof of one’s residence.

    Notice blue

    Please ensure the reliability and consistency of information mentioned in different documents. For example, the country of your residence mentioned by the bank in its transcript must be the country where you pay your taxes.

    Major banks are particularly scrupulous about the application data accuracy. If you have several residence addresses (properties) in different countries, make sure that you provide the proof of the address in the country where you are a tax resident in the last reporting period, not where you were born or vacation occasionally. The bank/payment system needs to see that you reside and pay taxes in the same place. Otherwise, you will have to provide additional documents and answer extra questions. Who can afford this waste of time and money?

    The third document is your Individual Taxpayer Identification Number (TIN) issued in the country where you pay taxes as a natural person. Financial institutions will reject an application from a person with TIN and tax residency in different jurisdictions.

    sign
    Personal accounts
    Free selection

    of personal bank accounts abroad for
    persons depositing €5000+. Expert services
    based on 7+ years of experience in banking.

    of personal bank accounts abroad for persons depositing €5000+. Expert services based on 7+ years of experience in banking.

    We’ll contact you in 10 minutes

    1
    1

    We’ll contact you in 10 minutes

    The fourth document is a financial statement or letter of recommendation from a financial institution in any country where you already have an active account. 

    The fifth document is some formal evidence of the legal origin of funds or assets and the relevant income tax paid. Such documents can be a tax declaration, a certificate of employment, a Board resolution on payment of dividends, real estate or property sale contracts, and other similar documents. 

    The above-mentioned list of documents for opening a foreign account. is standard yet not complete, as every financial institution maintains its own policy and requirements.

    Some additional documents may include your CV featuring your achievements in education, work, business, academic activities, your personal qualities, etc. The bank may also accept a copy of your detailed LinkedIn profile.

    The additional list of documents for opening a foreign account depends on the individual situation of each client. Likewise, every foreign financial institution sets its specific requirements for opening certain types of accounts. For example, the question whether to submit the notarized or the original copies needs to be checked with the bank or payment system.

    Notice blue

    Please note that all documents submitted for opening a personal account with a foreign organization need to be issued in English or have a notarized translation in English.  

    To sum up, you need to be aware of the specific requirements of your host financial institution. It is not enough to know the standard list of documents for opening a foreign account. You have to compile the right (most likely, extended) set of documents executed according to the rules. And only then you can expect success in your application for opening a foreign personal account.

    The following services can be ordered free of charge from the InternationalWealth.info experts:

    Free private expert sessions on the selection and set-up of your personal or corporate offshore/foreign bank accounts 

    Free private expert sessions on the selection and set-up of your accounts with foreign payment systems for high-risk businesses

    Please note that you can book an exceptional fee-based service that will save you time and money:

    PRE-APPROVAL of your application for a non-resident account with a foreign financial institution.

    This pre-approval service is fee-based, but can be offered to you for free if you book the account opening service available from our partner— the Offshore Pro Group company.

    The pre-approval exercise is especially beneficial for clients who have already applied to foreign financial institutions but, for some reason, have been rejected. We will choose several banks to submit your documents to, just for their preliminary feedback. After their approval, you will be sure of their tentative interest in opening an account for you. This procedure allows you to open a personal account with a foreign financial institution without wasting time on dealing with uncooperative institutions. Under the proper professional guidance, you will succeed even in the most challenging cases.

    If you would like us to help you, we will give you free advice on the collection and proper notarization of the necessary documents, impeccable filling out of the forms, and preparation for the interview with the foreign financial institutions.

    Notice blue

    Please send us your request for a free expert consultation. You can book it online, write to info@offshore-pro.info, or contact us in messengers indicated at the top of this page.

    We guarantee professionalism, speed, and confidentiality of your information shared with our experts during consultations.

    How can I prove my residence address?

    Foreign financial institutions request a utility bill with the name and surname of the applicant for opening a foreign account or a bank statement (with a breakdown of the relevant utility payments). You only need to make sure that these documents are not older than 3 months from the date of the application for opening an account.

    To verify your identity, they request a copy of your passport.

    Do I need to submit the proof of my income source?

    It depends on the bank’s specific requirements for certain account holders. For example, if you would like to open an investment account for an amount exceeding the equivalent of $10,000, you will undoubtedly be asked to provide a document confirming the origin of this sum, such as a certificate from your place of work for the past year, a contract for the sale of real estate or property, a document of inheritance, etc.

    In some cases, you may also be required to submit a copy of your tax return on your income.

    But, in the case of opening current accounts with small deposits, these documents, as a rule, are not required.

    Can I open a non-resident foreign bank account remotely?

    Yes, absolutely. Today this method is quite common, though the practice of remote account opening with foreign banks was exceptional just a couple of years ago, Yet at the onset of the pandemic, many foreign banks have hastily introduced procedures allowing them to open accounts remotely – after detailed online interviews with clients.

    However, this does not mean that foreign banks have eased the requirements of their compliance departments. Everything remains just as serious. You may be asked to submit an extended list of documents for opening a foreign account. All documents and data need to be executed in the right manner and thoroughly verified in advance.

    Therefore, we recommend that you prepare your application thoroughly, in advance, and under supervision of our experienced advisors.

    Please read other interesting articles at InternationalWealth.info portal:

    1. Is Blockchain a Fintech: How Are They Related and How Are They Different?
      Is Blockchain a Fintech: How Are They Related and How Are They Different?

      Let's look at such terms popular in the modern financial world as blockchain and fintech: what are these technologies, and how do they work? And…

    2. Can I Receive Payments in My Offshore Account? Benefits of Offshore Banking
      Can I Receive Payments in My Offshore Account? Benefits of Offshore Banking

      What is an Offshore Account? What Are the Purposes for Opening Offshore Accounts? Why Choose an Offshore Account over a Domestic…

    3. Is it Possible to Trace Accounts in Offshore Banks?
      Is it Possible to Trace Accounts in Offshore Banks?

      Offshore banking is popular with wealthy individuals and foreign companies, and deservedly so. Its allure stems from the potential benefits of privacy, lower taxes, and…

    4. What is a Ghost Bank Account? Beware of Risks, Consequences, and Mishaps
      What is a Ghost Bank Account? Beware of Risks, Consequences, and Mishaps

      What is a Ghost Bank Account? 2 Real-Life Cases of the Abused Ghost Bank Accounts The Illegal Nature of Ghost (Fake)…

    5. How Do the Rich Protect Their Assets?
      How Do the Rich Protect Their Assets?

      When the matter concerns HNWIs or very rich people, we, common Joes, often think the rich hide their wealth from prying eyes guarding it like…

    6. How Long Will Cash Be Around in the World?
      How Long Will Cash Be Around in the World?

      Number of non-cash electronic payments in the world Introduction of Central Bank Digital Currencies (CBDC) Disadvantages of cash Benefits of cashless…

    7. How Much Money is Required to Open a Swiss Bank Account?
      How Much Money is Required to Open a Swiss Bank Account?

      Swiss Banks Are Swiss Bank Accounts Reliable? How Much Money is Required to Open a Reliable Swiss Bank Account? How Much…

    8. Offshore Accounts Can Help Your Tax Planning, but with Ifs and Buts
      Offshore Accounts Can Help Your Tax Planning, but with Ifs and Buts

      The question of whether one can reduce their tax burden by keeping money in offshore accounts is a common concern for many individuals. While there…

    Please help us make the portal even more informative, up-to-date, and valuable for you and your business.

    Your email address will not be published.

    Popular Posts

    Foreign Citizenship by Investment: All Available Options
    Foreign Citizenship by Investment: All Available Options
    The Offshore Pro Guide to Top Banks in the Caribbean for 2023
    The Offshore Pro Guide to Top Banks in the Caribbean for 2023
    Portugal Golden Visa Residence Program
    Portugal Golden Visa Residence Program
    Anonymous China UnionPay Multi-Currency Card (USD/EUR)
    Anonymous China UnionPay Multi-Currency Card (USD/EUR)
    Registration of an LLC in Wyoming, USA for Non-Residents
    Registration of an LLC in Wyoming, USA for Non-Residents
    Offshore International Business Corporation (IBC) in the Marshall Islands
    Offshore International Business Corporation (IBC) in the Marshall Islands
    Residence Permits in Serbia in 2023 Leading to Citizenship in the Future
    Residence Permits in Serbia in 2023 Leading to Citizenship in the Future
    Belize LLC: A Window of Opportunity for Offshore Business in 2023
    Belize LLC: A Window of Opportunity for Offshore Business in 2023
    Register an LLC in Nevis
    Register an LLC in Nevis
    Open a Company with a Bank Account in Serbia Remotely
    Open a Company with a Bank Account in Serbia Remotely
    Combining a Nevis Offshore Trust and LLC Create The Ultimate Asset Protection Combo
    Combining a Nevis Offshore Trust and LLC Create The Ultimate Asset Protection Combo
    Why Serbia may be the best destination for you
    Why Serbia may be the best destination for you
    Limited Partnership Registration in Ontario, Canada for Non-residents
    Limited Partnership Registration in Ontario, Canada for Non-residents
    Panama Corporations and Bank Accounts: latest news
    Panama Corporations and Bank Accounts: latest news
    Top Countries for Opening Offshore Bank Accounts
    Top Countries for Opening Offshore Bank Accounts
    Top 10 Swiss Banks for Non-Residents in 2023
    Top 10 Swiss Banks for Non-Residents in 2023
    Going Offshore in Nevis: IBC or LLC?
    Going Offshore in Nevis: IBC or LLC?

    InternationalWealth.info

    All Rights Reserved © 2011 - 2023. INTERNATIONAL ASSET PROTECTION AND DIVERSIFICATION BLOG.
    Legal disclaimer

    InternationalWealth.info © 2023