EU or Swiss Account for UK Ltd
For European payments, the main account can be a EUR account with IBAN and SEPA. If a noticeable part of turnover is in Poland or the Czech Republic, it makes sense to open a separate PLN or CZK account and receive local payments without constant conversion into EUR.
Did secret offshore companies in England always exist? In general — yes, this was possible. For example, if offshore companies in Panama have existed for almost 100 years since 1927, nothing prevented two Panamanian offshore companies from opening a company in England earlier, for example in the City of London, as an LP or LLP partnership, and obtaining a 100% British offshore structure. Especially in those good old days when there was no internet, no public registers and everything was kept on paper. It simply attracted little attention and isolated cases went unnoticed. Now everything has changed. But offshore structures remain. Banks, however, require more work: accounts are no longer opened for clients from the street, or walking clients. The bank must be persuaded that the business intentions are proper and that there is no intention to optimise taxes. But the essence remains the same.
Bank Pekao officially offers coordination of account opening for corporate residents and non-residents. Komerční banka maintains corporate accounts in CZK and foreign currencies including EUR, USD, GBP, CHF and PLN. This shows a simple principle: a UK Ltd can use the banking infrastructure of the country where it has real payments.
A Swiss account is more often selected for CHF, international payments and large projects. For a company with several markets, it is convenient to have a primary European account and a second company account in Switzerland or another country.
When ordering, tell us the countries of buyers and suppliers, the main currencies and where the director lives. From this information it is possible to determine immediately which account should be primary and which should be reserve or regional.
- EUR / IBAN / SEPA
- PLN — Polish bank
- CZK — Czech bank
- CHF — Swiss bank
- Primary and second account