LSC has an excellent working relationship With key contacts in Ireland and
Europe’s biggest financial institutions

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LSC & PARTNERS
Bank Account Opening Services in Ireland

At LSC & PARTNERS, we consider a company to be practically useless, unless it holds a corporate bank account.

The exceptions are holding companies that are created with the sole purpose of holding shares in other companies.

Thus, we have developed a banking network and expertise which enables us to open accounts for all companies we register. Obviously, the final decision to open an account depends on the bank, but our account opening success rate is close to 95%.

Our professional status as "International Corporate Service Provider" and our signing of a good conduct charter give us the status of "eligible introducer" in the eyes of financial establishments in general.

As a result of this, opening an account and managing the dossier are much simpler; we send the banking file directly to our clients. We can also open bank accounts by correspondence for the majority of banks we work with.

Our clients can benefit from the following options offered by most of our banking partners: Internet Banking, Standing order/ Direct debit, Cheque book, Credit card or Debit card, BACS, CHAPS available, Telephone banking. Normally you will benefit from a period of FREE business banking transaction on a day-to-day basis; a bank account can be open in Euro, US dollar, Pound Sterling, Swiss Franc, Japanese Yen or local currency.

We have made this process as fast and integrated as possible to ensure that you receive a first-class service. Throughout the process we are kept up to date with your bank account progress. We do not have any signing rights on the account unless you explicitly instruct us to act as signatories in trust or as a part of the nominee services we provide.

Our company provides professional advice on selection and collaboration with well-established bank for each client individually; we undertake a full set of services on the organization of cooperation with the most reputable and respected banks.

Our clients refer to us as being fast, accurate, responsive but yet very affordable. LSC & Partners kept up that reputation for years and the company is appreciated by the community of world financial institutions. We are pleased to know that the communication between the bank and our clients is most productive from the point of view on receiving concrete high-quality services by mutually beneficial obligations.

How LSC & Partners choses its network of banks

With our 17 years of experience in the field, we can select banks that are secure, provide excellent services, and numerous banking facilities (e-banking, credit cards, letters of credit, etc.).

In addition, other important characteristics are analised before selecting a bank, such as:

- Political and economic stability of the country where the bank is located.
- Bank confidentiality to preserve the privacy of our customers.
- Financial guarantees of the bank to avoid the risk of bankruptcy.
- Excellent reputation of the institution.
- Wide range of financial products offered.
- Which account for which customer?

LSC & PARTNERS customer profile differs one from each other, including, among others, entrepreneurs, pensioners, shareholders, import-export businessmen, heirs, consultants, and patent owners. We have, therefore, developed a banking network where an account can be opened for any type of activity.

Bank facilities available

As a general rule, the following facilities are available from all banks and financial establishments we work with:

Multi-currency accounts
E-banking
Credit card and debit card

Documents usually required to open a bank account

As a general rule the bank asks for a certified copy of the shareholder's and director's passport (beneficial owner), as well as recent proof of residence which, must be less than three months old.

If the client goes to the bank in person to open the account, a certified copy of the passport is not required. In Mauritius, banks also require a letter of reference from a bank and a CV.

We will send you the additional documents necessary for opening the account by email, as an attachment, for you to sign and return to us preferably by special courier (DHL, FedEx or other), along with the other documents mentioned above.

Recommended Irish banks and financial institutions

Bank of Ireland, Ireland
Allied Irish Banks, Plc, Ireland
Ulster Bank Ireland, Ireland
KBC Bank Ireland Plc, Ireland
Fire.com
TransferWise

Frequently Asked Questions (FAQ)

How long does it take to open an account?

Most banks will state on their websites that it will only take a maximum of 3 days to successfully open an account if all the forms are completed and that all information and supporting documents are included. This is rarely the case. It can take between 2 to 4 weeks for an account to be opened. Usually the banks will ask for more information and supporting documentation and their compliance teams will analyze the information provided for about a week before confirming an opened account.

Does your account opening fee guarantee an account can be opened?

No. Our fee is for providing assistance which includes liaising with the bank during the application process and troubleshooting after you have submitted the application, not for guaranteeing the opening of a bank account. The success of opening a bank account depends on the bank itself. They reserve the right to reject an application without giving us any reasons. They conduct extensive risk management checks and may find that a connected person or the activities of the business itself is high risk.

If our bank account application fails, will you waive or refund your fees?

Unfortunately, we do not. This is because we do not charge a fee for guaranteeing account opening as explained above.

Do any of the banks offer online banking?

Yes, almost all the banks we provide account opening assistance with offer full online banking services so that you can manage and access your account online. You can apply for online banking at any stage either during the application or after the account is opened, as it is usually a separate application form for online banking which is not a mandatory form to open a corporate account. Most of our clients prefer to apply during the application.

Remarks

(a) If extra legalization and/or corporate documents are required by the bank, additional fees apply;
(b) Bank own account opening fees and costs (if any) will be charged from the first deposit to your account;
(c) Bank fees and costs are not included into our bank introduction fees;
(d) Any of the banks above always have their final word, after due diligence processed, by accepting you or not as their customers, depending on their own evaluation; however, you are always free to open your company’s bank account by yourself, with some other bank of your selection.

Disclaimer

(1) The above description is not an offer or soliciting to provide financial services of any kind inclusive but not limited to buying any security or investment product or receiving an investment advice from us. Bank fees and account opening terms inclusive due diligence requirements are subject to change from time to time without notice;
(2) After the account has been opened you deal directly with the bank by yourself, entirely at your own risk and at your sole discretion; we may not be responsible for any changes in the legal or financial status, requirements, fees and commissions of the aforesaid Banks.

Our Services

Our Services before you deal directly with the bank by yourself:

Independent advice to help you to choose the right bank;
Support regarding due diligence requirements;
Assistance with filling in the required forms;
Provision of properly legalized corporate documentation where applicable;
Recommending you to the bank based on your individual profile and due diligence documentation;
Representing you before the bank during account opening;

Our bank account introduction is a professional service provided by LSC & PARTNERS to European or Offshore company owners as an approved bank intermediary.

While we cannot guarantee the bank will open an account for every client, by using our professional expertise, we can significantly increase the success rate for account opening. We also can reduce potential application hold ups with incorrect or missing documents that the client may not have been aware of.

Factors we consider when recommending banks for account opening: client’s citizenship and country of residence, types of transactions involved (trading / manufacturing / real estate / investment), volume of payment transfers, investment requirements, confidentiality, soft currency requirements, as well as language issues when communicating with the bank.





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Legal disclaimer

The information and materials contained in this website do not constitute an offer, invitation, solicitation, advice or recommendation to buy the products and services offered and rendered by LSC & Partners and shall be applied with prior consultation.

LSC & Partners does not offer legal or tax advice without consultation with certified professionals with related appropriate skill and expertise.

The information contained in this website is for general guidance on matters of interest only and should not be considered as guidance for financial or tax decisions, or a substitute for specific professional consultation.

While we have made every effort to ensure that the information contained in this website is accurate and correct due to constant changes in laws, rules and regulations LSC & Partners accepts no liability for any loss or damage arising directly or indirectly from action taken or not taken relying on the information contained in this website. In particular no warranty is given as to the completeness, accuracy, reliability of such information and as to whether it is at all times up to date.

LSC & Partners accepts no liability for any loss or damage direct or indirectly arising from the application of any information contained in this website, including any loss, damage or expenses arising from, but not limited to, any defect, error, mistake, inaccuracy, reliability of this website, its contents or related services, or due to any unavailability of this Site or any part thereof of any contents or related services.