Most definitely, yes. But as you already know, that’s a tedious process. Depending on your business size or type, the difficulty may increase. At Open, we can assist you in this challenging process and handle the work end-to-end.

The price depends on the difficulty of your case. We charge a “success fee”, meaning you only pay is if we get your account opened. A ballpark figure is €1,000 to €5,000 per account – which is 2-10x lower than the market price for similar services.

We want to make the process of opening a bank account as easy as possible for you. That’s why we won’t bombard you with a ton of questions. All we ask is to fill in a short questionnaire that helps us find potential weak spots in your application and allows us to pair you with the right banking partner to suit your needs.

Here are some sample questions from the questionnaire:

• Why do you need a UK/EU business bank account?
• What currencies do you need?
• What’s the size and nature of your business?
• What’s the expected volume of transactions per month?
• What’s your annual turnover?

After you fill in the questionnaire, we’ll pair you with an account manager who’ll make sure you provide all documents the bank might request. Once you submit the documents, the bank will verify the information and run a routine compliance check to ensure you meet all legal and AML requirements.

A typical UK/EU bank might usually ask for the following:

• Company’s shareholding structure.
• Certificate of incorpotation.
• Business plan, including future projections.
• Description of the company’s activities.
• Proof of identification for the company directors – a passport or an ID card.