Offshore Banking in Romania – Which Bank is the Best?11 min read

Offshore Banking in Romania – Which Bank is the Best?11 min read

Reading Time: 5 minutes

Offshore banking in Romania is very advantageous for foreign investors outside the country. Still, it is necessary to know this term before doing offshore banking. Offshore banking is investing by using the services of a different country other than your own. 

As there are certain steps to do offshore banking in Romania, it would be beneficial for you to first find a consultant to get information about opening an offshore account in Romania

Although the process of opening an offshore bank account may seem complicated to you, taking advantage of the services offered by The Kingdom Bank and getting support from our experts in this process can make your steps easier. 

It would help you learn the bank’s rules from a financial advisor and follow the steps step by step. We recommend working with an advisor to facilitate this process when doing offshore banking.

There are many financial institutions and platforms that offer offshore banking services in Romania. This is why detailed research can make your job easier when choosing a bank. After choosing the most suitable bank for you, the next step is the account opening process. 

Every bank requires documents during the account opening process. Although these documents may vary from bank to bank, they generally include documents such as identity cards, passports, and residence certificates. Preparing these documents in advance with the help of your consultant could speed up your work. 

Once your documents are approved, your account will be activated and you can start using your account. When doing offshore banking in Romania, the best bank is a term that will be shaped according to your financial needs.

Which Bank Should Open an Account for Offshore Banking in Romania?

If you want to open an offshore banking account in a bank in Romania, there are a few bank options that you can consider. Each bank has its own laws and regulations. Also, the opportunities offered by each bank may be different, it will be beneficial for you to do detailed research. If you want to make transactions in a well-established and international bank, The Kingdom Bank may be suitable for you. This bank has many services to offer and has a wide range of services.

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offshore banking in romania

Who Can Open an Offshore Banking Account in Romania?

Romania is open to local and international individual entrepreneurs, businesses and/or organizations in terms of benefiting from their offshore banking services. 

Investors who want to open an offshore account in Romania are allowed to do so as long as they present their foreign identity documents and residential address to the bank for verification. There may be other documents to provide such as passports and ID cards. These banks then investigate the financial history of bank investors who want to do offshore banking in Romania

Each bank has its own laws and regulations. If you want to open an offshore banking account in Romania, you must comply with the laws of the bank you choose. It can be important to get expert support when doing offshore banking. Getting the support and guidance will be beneficial for you to learn the legal regulations of the bank you will invest in.

Can a Non-Resident Open an Offshore Account in Romania?

It is possible for non-residents to open an offshore banking account in Romania and there are documents required that may vary from bank to bank. Examples of these documents are identity cards or passports. After the approval process of your account, the bank may ask you for a small amount of money deposit. 

Non-residents are allowed to open an offshore account in Romania once certain checks and investigations of non-resident investors are carried out, such as investment purposes and financial history. Each bank may have different procedures, so it may be beneficial for you to get expert support during the account opening process. 

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Learning from your consultants the procedures to be followed regarding the bank in this process can speed up your transactions. Keeping in touch with the bank during this process can also make your job easier. 

Which Bank is the Best to Do Offshore Banking in Romania?

To open an offshore bank account in Romania, you should consider your financial needs before choosing a bank. The best bank will be tailored to your personal and financial needs. Therefore, it would be a much more appropriate step to first determine your financial needs and then research the bank. You can start by researching reliable and popular banks. 

The second thing you should pay attention to in your choice should be banks with a wide range of services, because you may want to use the offshore account for account management, foreign exchange trading, or international money transfer for investment and payment purposes. Receiving multilingual service and performing fast transactions could take you one step forward and make your transactions easier. 

The services and policies offered by banks vary, so, comparing account opening fees and commission rates and being sure about learning transaction fees. The Kingdom Bank may be among the banks you can examine, as it is among the preferred banking platforms in Romania and offers various services for foreign investors. 

offshore banking in romania

Opening an Online Account for Romania Offshore Banking

There are certain banks in Romania that offer online account opening services. Sending documents by mail following the online application process, or submitting documents online are some of the ways that the process can be carried out. 

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In some cases, foreign investors may need to reach the bank either in person or through a representative to complete the necessary documents and identity checks. For this reason, it is very important to do good research beforehand. 

In the process of opening an online offshore bank account, the first step is to fill out an application form on the website of the bank you have determined is in line with your financial needs. 

In this process, you can get the most accurate guidance by contacting your bank. There will usually be some documents requested from you in the online application form. These are documents such as your identity information, the document showing your current address, and your income certificate. You also need to specify the account type in the form. Your bank will review your application form and review your documents. The review may take up to 1-3 business days or be completed faster. 

After the review, your bank is most likely to contact you with the results. After your application is approved, your bank will direct you to use your account. 

Since the process of opening an online offshore account may vary depending on the selected bank, you can get the most accurate information on your bank’s website or customer support line. 

You can also work with a financial consultant to take more accurate steps in these processes and contact The Kingdom Bank for full and consistent support in the processes.

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