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Opening accounts for companies in Austrian banks

If you plan to apply for a corporate account at an Austrian bank for conducting international commercial business, or several investment activities, we are ready to assist you in the following areas:

 

1. Registration of an Austrian company;
2. Structuring of shareholders and management;
3. Coordination Austrian tax authorities;
4. Application and opening of the corporate accounts in Austrian banks;
5. Representation of your interests towards the Austrian banks during conducting of transactions;
6. Monitoring of transactional business and support;
7. Support for legal and audit opinions of Austrian law firms if needed;

Following due diligence steps are being taken by the Austrian Banks before and during the account relationship with the customer:

1. Preliminary verification of the company, its controlling persons and directors regarding criminal or various sanctions lists;
2. Preliminary approval by the bank of counterparties for transactions, types / amounts / volumes of incoming and outgoing payments;
3. Acceptance of the bank about of the source of funds which are to be received by the company;
4. Preliminary approval by the bank of contracts with counterparties for settlement of transactions;
5. Tight control of limitation of the opening of accounts for companies from offshore jurisdictions or countries outside the OECD;
6. Providing of transactions in USD only upon purchase of securities nominated in USD and receipt of coupon income, dividends or amounts from redemption of securities.

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