Banking institutions may reject a request from a foreign citizen or a foreign firm to open a bank account in Czech Republic.
The banking sector is regulated by the Czech National Bank (CNB), which operates to ensure the development across the banking system, and prevent the misuse of the Czech Republic’s financial system. Under banking laws, and laws aimed at preventing money laundering and terrorist financing, banking institutions are required to take extra measures when assessing if a foreign citizen satisfies the requirements of a foreigner’s bank account creation in the Czech Republic. Not always will therefore a foreigner be eligible to open a bank account.
However, despite these potential problems, it is possible for a foreign citizen to open a bank account through purchasing a ready-made company or through setting up a company with our capital in the Czech Republic since companies in Czech Republic have standardly an assigned bank account which enables a foreigner to fully enjoy all of its benefits.
It is highly recommended to use services of a company specializing in the establishment of businesses in the Czech Republic. This way a foreign citizen receives assistance in fulfilling all Czech legal regulations, including the opening of a bank account.
In our company Profispolečnosti.cz we understand the procedure with emphasis on the needs of a foreign citizen. If you decide for the establishment of a company in Czech Republic, we will provide you with a personal consultation, preparation of all necessary documentation, and we will guide you through the whole process.
