Banking

Setting up a bank account for European businesses is not as straightforward as it should be. EU Directives which become consolidated into local laws are prevalent in this area.

Many clients prefer to use the correspondent bank of their existing US banking relationship.

 

In establishing a UK account consideration should be given to forex. It is highly likely you will experience forex issues across the US$, GBP, Euro and other currencies in jurisdictions where you have operations or business development functions. There are virtual currency accounts which many clients make use of where funds can be pooled in any currency and converted to a currency of your choice. In any case, it is good practice operationally to have an account in the currency of the customers you are selling to and revenue from such customers often offers a natural hedge to the costs of your local operations teams and suppliers.

Get in touch for a free consultation

We are here to assist. Contact us by phone or email.

copyright © 2021 Virtual Subsidiary Group.

Capture_edited.png
Untitled%20design%20(18)_edited.png