Can I establish a bank account for my company?
Yes, however CMS is only able to assist in establishing corporate accounts for companies under our management. All the banks we work with consider the prevention of money laundering and terrorist financing to be of the utmost importance. Banks have adopted ‘know your customer principles’ following the worldwide introduction of new money laundering legislation. These principles make it a requirement for them to know the identity of the beneficial owner, the source of monies being transferred into an account and the type of business a company will undertake. The supply of this information is a legal requirement and clients should expect to provide full and detailed information about themselves, their business activities and their future plans. A personal bank reference and proof of business activities using company brochures, a company website, business contracts, a lease agreement will help support your bank account application.
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