| |  |
| |
|
 |
|
|
|
|
UK Bank Account |
 |
 £ 250.00 | | |
 In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Certificate of Incorporation and Certificate of Good Standing.
The opening of a UK business bank account will require all directors to be present, thus reasonable notice must be given in order for meetings to be arranged. Once the procedure commences at the bank it will only take approximately one hour until completion, your account will then be activated during that same day.
|
|
|
|
|
|
|
|
USA Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Copy of Drivers License.
Social Security Number of all signers (US Citizens).
Copy of Passport, with photo also please list address of record.
Email address, website address.
Certified Copy of the Certificate of Incorporation.
Copy of By-laws (Operating Agreement or Partnership Agreement).
Copy of company business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Certificate of Good Standing.
|
|
|
|
|
|
|
|
BVI Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Belize Bank Account |
|
| £ 250.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Cyprus Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Gibraltar Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Hong Kong Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Nevis Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Panama Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Seychelles Bank Account |
|
| £ 400.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Utility Bills issued within the last three months with the applicant’s current address.
Business card with name and title of principal signer.
Detailed description of business type - nature of business.
List location of primary trading area.
Signed local bank reference letter from Officer of your current bank - translated in English.
Local professional reference letter from your Accountant - translated in English.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
|
|
|
|
|
Lithuania Bank Account |
|
| £ 200.00 | | |
In order for us to open a bank account for the company or partnership we will need the following items:
Drivers License and Passport, with photo also please list address of record.
Detailed description of business type - nature of business.
List location of primary trading area.
Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing.
You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
|
|
|
(click here for other packages)
| |
- DEAR VISITORS, If you want to become familiar with the description and the contents of banking accounts packages, offered by our company and to find above, what kind of service is included in this or that banking account package, and about the general legal requirements to the banking account within foreign countries, please, select the package you need from the list, situated below the banner. The information in the banner will be renewed according to the package you've chosen.
Please note » The prices payable for the items that you order are clearly set out in the web site. There will be no contract of any kind between you and us unless and until we receive payment from you. We act as your agent in the formation of companies and electronic filing of Companies House forms. We are not able to guarantee that any such filing will be acceptable to Companies House, nor are there any contractual obligation upon us to do so. If Companies House rejects formation or other electronic filing, we will credit your account with a full refund and the contract between us will be made void. Companies House does not offer a cancellation facility for the formation of companies or the electronic filing of documents. We will be unable to cancel any such submission on your behalf and will not refund any payment you have made. All prices shown at Coddan Web Site (www.coddan.co.uk) are in Great British pounds.
Live Help » Live Help is a real time "chat" feature which enables you to interact with a customer service representative without a phone call. Get answers to your questions while using our website. Clicking the "Live Help" button will start an on-line session with one of our representatives. Live Help is currently available during normal business hours. Outside of the above opening hours our business center will be closed. When you click on the button you will see an e-mail form that will allow you to send us a mail with your questions. Live Help is absolutely free! There are no hidden fees. We offer the service as a courtesy to our website visitors.
 Offshore Banking
We will guide you step by step through the offshore account opening process. We will send you the application form with detail instructions how to fill them. We will monitor the account opening from the beginning up to the time you start to operate your account.
Because in most cases it is highly recommended to hold an offshore account in the offshore company name, we do not open personal offshore accounts. (Exceptions can be made in some cases if your situation is appropriate and you are our existing client). Please familiarize yourself with the list and description of the banks we offer.
An offshore bank account, also known as international banking, is a service that most financial organisations provide and would be suitable for a customer who required a best of both worlds approach to banking. It is to summarise, a flexible current account that has the added benefits of a high interest savings account, therefore making it suitable for people who travel or are based abroad for whatever reason, business or pleasure, on a regular basis. This can be an extremely advantageous service once set up, allowing the account holder or company to concentrate on other issues and eases the pressure of banking whilst at home or abroad.
Most organisations offer similar benefits and depending on the chosen bank a customer could open an account for a relatively small amount of money. For companies or individuals with large amounts of money, high interest rates are extremely beneficial and an offshore account would provide a base or "safe house" to invest their profits or savings. An offshore bank account can also be beneficial for international students, those who have come from abroad to study in Great Britain. Advantages are as follows: Firstly, the account can be available in a range of different currencies depending on the customers needs; these include Sterling, Dollar and Euro. This can also include a chosen currency for chequebooks and debit cards, which can be used to withdraw funds anywhere in the world that displays the relevant symbols. This advantage saves money usually lost through exchange rates, therefore providing easier and cost efficient trading across international boundaries.
Secondly, regular payments are easy and convenient to make by either standing orders or direct debits and most banks do not charge an administration fee on accounts that are in credit. Interest rates are banded and usually paid on a monthly basis. It is advised, as with any account that potential customers shop around to find the best interest bands available, depending on the amount they anticipate to pay in. One of the biggest advantages of offshore banking is that there is generally no tax deduction, again it is important that this is clarified at the chosen branch.
Finally, when opening up an offshore bank account the customer should still have the advantage of services available to all other account holders, for example telephone and internet banking. This enables the account holder to manage the account without needing to return home or visit their nearest branch. This service could be used to resolve a problem by email, change dates or amounts of standing orders or simply update personal details.
You usually do not need to visit the bank with which you wish to work with. Most banks require us to provide them with certified copies of a company's Certificate of Incorporation, By-laws and a directors' resolution to open the bank account. Certain banks require the provision of a certificate of good standing and some other banks require documents to be notarized and apostilled in a company's jurisdiction of incorporation. All banks require evidence of beneficial ownership in the form of certified passport copies and appropriate board resolutions. Banks need to know their customer’s business and thus we need to know detailed plans for a new company's operations, including projected turnover and the geographic spread of business. One of the conditions of opening a new account with most banks is the placing of an initial deposit and some banks may insist that significant minimum balances be maintained.
- Reconciling Your Bank Account
Using Your Check Register to Keep track Of transactions. The first rule in managing a checking account is to "keep good records." If you know your correct balance (the amount of money left in your account), you will be less likely to overdraw your account. This is where your check register can assist. It allows you to keep track of where you have written checks or made deposits. You should use your check register to record the amount every time you write a check, make a deposit or perform any other banking transaction. Here are some tips:
Complete your check register right after the transaction. If you carry your chequebook to the supplier, then right down the amount in your chequebook before or concurrent with writing a check. Write down the check number, date, payee and amount in your chequebook register. If you are paying the bills at the office, the same thing applies. This is made even easier by some of the PC software programs that have a check printing feature built-in, and online banking takes this feature one step further.
Record all of your banking transactions. For transactions such as deposits, withdrawals and all electronic banking transactions enter the information into your check register. Also, don't forget to include monthly maintenance fees, check-printing charges or other items that might appear on your bank statement.
Keep a running balance. It is important to keep a running account balance following each transaction. A check register simply filled with check amounts, deposits and ATM withdrawals will not be of any benefit if the account balance is not kept up-to-date. Also, remember to add "deposits" and subtract "withdrawals" to keep an accurate balance.
Manage your short-term cash flow. Make it habit to look at your short-term cash flow on a regular basis. If you have an active business and generate a large number of invoices or pay a large number of checks, you may want to look at your cash flow on a daily basis. If you have hired someone to help you, devise a simple one page report that they prepare and put on your desk every day. Such a report might include: cash balance, beginning of the day, + A/R Collections, + other receipts (include brief description). Subtotal = Today's Bank Deposit. - Bills Paid. - Other items (include brief description). = Cash balance, end of day.
This can be a very simple process and it keeps you on top of the bank balance and let's everyone that is handling your money know that you are monitoring the balance. Occasionally, you will need to compare this daily report to the actual bank reconciliation; if you're using this system, it is not unusual to forget to include a bank charge or automatic payment, etc.
Three easy steps to balancing your chequebook. Balancing your chequebook with your statement allows you to accurately keep track of your money and the activity in your account. By making it a habit to balance your chequebook every time you get your statement, you will always know how much money is really in your account to help avoid overdrawing funds (for which there is a charge). Also, it will help you spot any unauthorized use of your ATM card or chequebook.
Think of your bank statement as a road map to the successful handling of your checking account. Follow these basic steps and you'll be on your way to organizing your finances. There are three steps to balancing your chequebook:
Check off items in your register. First, bring your check register up-to-date by comparing the items listed on your statement with the items listed in your chequebook register. To ensure that you have entered all necessary items in your register, check off each item in your register that appears on the statement.
Update your chequebook register. Record all transactions listed on your statement that you have not written in your register These entries may include ATM transactions, service charges and fees and deposits.
Use the reconciliation form. The final step in balancing your chequebook is simple arithmetic. Use the reconciliation form on the back of your statement to guide you through the following steps (the actual form on your bank's statement may vary, but this is the typical format used by many banks):
Beginning in the upper left-hand column of the reconciliation form, write the ending balance listed on the front of the statement. Add to the ending balance any deposit you have made that does not appear on the statement. Subtract from this total any outstanding checks (those that you have written that have not appeared on your statement). Move to the upper right-hand column of the reconciliation form and write the balance shown in your chequebook register. Add any deposits not already entered in your check register. To this total, subtract any service charges or miscellaneous bank fees that appear on your statement, but have not been entered in your register. (Note that if you have properly done step 2., you should not have any more items). The balance of the right-hand column should equal the balance of the left-hand column. If the two amounts are equal, your chequebook is balanced. If not, you'll have to do some additional work.
What happens if your figures do not balance? If your statement balance doesn't agree with your check register balance after you have completed the reconciliation, don't panic. Here are some tips to help you clear up the discrepancy: review the previous month's statement to make sure any differences were corrected. Check to make sure you have listed all outstanding checks. Again, refer back to the prior month's reconciliation and if all those items have not cleared on the current statement, they are still "outstanding" and should appear on the list again. Check your addition and subtraction if you are using a manual check register. Make sure you have listed all the deposits that have been made after the cut-off date of the statement. Make sure all the miscellaneous charges and fees are recorded. Double check the cancelled checks against your check register making sure that the amounts agree and that you have not transposed a number. (Don't just look at the amount you wrote in, look at the statement amount or the encoded figure at the bottom right corner of the check).
If you are still unable to solve the problem, you may want to contact a customer service representative at your bank for additional help. There may be a fee involved with this service, but it is important that you keep your reconciliations up to date.
- Offshore Account in Latvia for your company, IBC, LLC or LLP
There are 22 banks in Latvia, however if you are anticipated to open the bank account by mail, you could consider just 5-6 of them. Your consideration depends on your needs and your balance. If you have above million USD on your balance - go with big banks. If you have some thousand turnover - you can choose: do you need big bank where you will be treated as everybody, or you need very special service, but can do without your favorite brand on your credit card or some other small extra.
Coddan acts as an agent for the largest banks in Latvia. These banks offer a wide variety of retail and commercial banking services through an extensive network of branches locally as well as serving the international community through their remote bank account operation system. All these Banks have excellent internet banking facilities, a choice of credit/debit/anonymous Visa, Master, Cirrus, Maestro, Amex cards. The bankers will be able to assist you by introducing you to their investment portfolios or insurance services. Excellent relations with the Banks Correspondents located in the USA, Canada, Germany, Austria, Norway, Japan, Australia, etc., allow their clients to benefit from the unrestrained currency exchange operations and maintenance of multicurrency bank accounts. We will recommend you to a banking institution for your satisfaction taking into consideration your present citizenship and domicile.
The opening of a bank account is one of the primary concerns of our clients. All major banks recognize the importance of being able to carry out instructions expeditiously, with many banks now providing online computer facilities that provide information to the authorized user and the ability to effect either inter-account or external electronic transfers. Clients preferring to issue instructions by fax are able to establish coded systems with the bank to ensure both confidentiality and security. Banks are required by their regulators to know their customers’ identities and details of their business activities. Clients are encouraged to inform banks of changes in their business pattern or of any large transactions. Banks are suspicious of large inward transactions followed rapidly by large outward transfers from corporate accounts and generally do not wish to attract this type of business. A client who describes his business as a business consultancy with an estimated annual turnover of US$ 200,000 per annum should not be surprised if their corporate banker rejects an incoming transfer of several million dollars.
Debit Cards: Through our primary correspondent bank, debit cards are available for individual or corporate bank accounts in Latvia. Debit cards allow you to access your funds through the Maestro / Cirrus system at ATM's worldwide.
The bank does not impose any daily ATM cash withdrawal limit restrictions, so you can withdraw as much money as your account has in it at any time. For cash withdrawals, you simply enter your card into any Maestro / Cirrus participating ATM (there are millions of them around the world), enter your pin, select withdrawal from savings, enter the amount of money you wish to withdraw, and the ATM hands you your cash - it's that simple! There are two types of debit cards available:
Maestro/Cirrus International Debit Card: This type of debit card can be issued for a person (individual) or corporate entity (corporation, foundation, trust, etc.). It can be used for purchases, or for ATM withdrawals at all Maestro / Cirrus participating ATM's around the globe.
EDC / Maestro / Cirrus Salary Debit Cards: This type of debit card is useful for companies who wish to pay their employees, commissioned agents, or any third party via an international debit card. Through the EDC / Maestro / Cirrus salary debit card, the card holder can access their funds via any Cirrus participating ATM around the globe.
This debit card system works as follows: Your company opens a corporate bank account. Each employee (or commissioned agent, etc.) is provided with a debit card that is linked to your company's account. Through the banks internet banking system, you can electronically transfer any specified amount of funds from your company's account to each employee's debit card account.
Latvian banking secrecy. There is very high standards of banking secrecy adopted in Latvia. The Law "On Credit Institutions" passed in Latvia on October 5, 1995 states the following regarding the confidentiality:
Article 62. (1) Information on accounts and transactions of natural persons shall be disclosed to the natural persons themselves and their duly authorized representatives.
Article 64. (1) Criminal proceedings in due course of law shall be instigated against any person who has deliberately or inadvertently disclosed, to the public or to unauthorized persons, information on the accounts of and financial services rendered to customers which has been entrusted or has become known to such a person as a result of his/her holding shares or stocks of a credit institution, being a chairperson or member of the board, executive board, or audit commission or in the capacity of their proxy, an employee of a credit institution, the Bank of Latvia or some other state institution, or a representative of external auditors.
Of course there is some difference between Latvian and Swiss banking secrecy. However as regards to information disclosure - in both countries at least one person in the bank should know the identity of the customer and in the case of properly authorized inquiry, related to criminal activities of some customer, such information could be disclosed to the law enforcement authorities. Both countries have European standard due diligence requirements and anti money laundering laws. Both countries are allowed to open the Numbered accounts where the number replaces your name on all documents in connection with your account.
|
|
Setting Up Your Bank Accounts
U.S. Bank Account
Helpful Resources