Bank Accounts

Multi-Currency Bank Accounts for High-Risk Companies

Opening a corporate bank account for companies that have complex legal structures, are involved in high-risk activities, or those lacking economic substance might be more complicated than one could initially anticipate. In certain cases, even though your business does not tick the boxes of complicated structuring or distinctive high-risk activities, you might find yourself in a situation of being rejected for opening an account at a bank or other type of payment institution.
The truth is, being rejected simply due to a lack of in-depth understanding of particular requirements applied by banks is not an uncommon occurrence.

Payment institutions, especially those who are not instantly rejecting businesses which are a bit more complex than local grocery stores and are willing to take the risk of working with, for example, crypto businesses or offshore companies, are subject not only to a substantial set of strict requirements from supervisors in their jurisdictions, but also international regulations. If they do not adhere, they are risking their licenses, reputation and much more, therefore, they do everything to mitigate risks of compromising their good standing. For this reason, in many cases, if the business model is not presented correctly, they might not want to take the chance of being fined because of one customer.

In fact, your business model can be completely in order, but the bank, solely for its own safety, will ask questions which might seem extensive and reject your application afterwards. A properly prepared business description, along with supporting material and a scrupulous communication usually leads to a successful opening of a bank account. Unfortunately, achieving this is not always possible without prior experience in dealing with banking regulations.

The team of Nomad Law not only specializes in preparing everything and handling the communication during the account opening. We will perform an in-depth review your business case – the same way the bank would – and, if there are any possible weak spots in your policies or other aspects of the company which might need improvements, provide you with a full legal assistance to correct the deficiencies and maintain your company fully compliant as well as supply you with the main points for understanding the requirements of banks and the reasoning behind their questions.

Contact us for a free consultation or continue reading to find out more about the possibilities of opening multi-currency bank accounts in countries of Nomad Law’s local expertise.

Business bank accounts in Lithuania

Nomad Law, holding an extensive local expertise in Lithuania, is able to provide the clients - those who are interested in personal and corporate European bank accounts - with top-level assistance when it comes to opening a bank account in Lithuania. Through the years, our specialists have been working with various e-money institutions and banks, getting to know the procedures and practical aspects of client onboarding; this allows our customers to save a lot of time and money when it comes to opening bank accounts in Europe.

It is important to understand that not all banks accept all customers, disregarding the fact that the operational model is clear, and the communication is handled perfectly. For this reason, Nomad Law will analyze your business case prior to submitting any applications and will choose a number of specific payment service providers who, based on their risk appetite, would be interested and, most importantly, able to accept you as a customer.

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Business Bank Accounts in the UAE

If the business model is simple, activities are low-risk and the company has an adequate level of substance, opening a low-cost local bank account is not very difficult. In cases when companies lack economic substance, high risk activities are involved, or the legal structure is complicated, having a local bank account opened gets more complicated.

Nomad Law will assist your business in opening bank accounts at Emirates NBD, Mashreq Bank, Dubai Commercial Bank, ADIB, WIO or Emirates Islamic Bank. Pricing structures, application requirements and risk appetites of these banks differ, therefore, we would be happy to know more about your business case beforehand and provide you with a tailor-made proposal for opening an account in a UAE bank which will correspond with your requirements and business model best.

Contact us and open a multi-currency bank account in the UAE.

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Corporate bank accounts in other jurisdictions

Nomad Law’s network of partners is not limited to the countries of local expertise. The network of banks, electronic money institutions and other payment service providers Nomad Law works with is significantly broader and, if the payment providers do not match the requirements of the customer, we are able to offer bank accounts with our partners in other jurisdictions.

If you would like to find out more, discuss your case, or be assisted in opening a bank account, please describe your business and we will get back to you with a solution, free of charge.

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Get started

Contact us at [email protected], by calling +971 56 591 0692 (UAE), +370 686 24426 (Lithuania/Europe) or drop us a message via our contact page. We will review your case and come back to you with potential solutions.

We look forward to speaking to you!

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Get started

Contact us at [email protected], by calling +971 56 591 0692 (UAE), +370 686 24426 (Lithuania/Europe) or drop us a message via our contact page. We will review your case and come back to you with potential solutions.

We look forward to speaking to you!

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United Arab Emirates

Nomad Advisory FZCO
Dubai Silicon Oasis, DDP
Building A2
Dubai, United Arab Emirates
+971 56 591 0692
[email protected]


UAB Nomad Law
J. Basanaviciaus str. 26
Vilnius, Lithuania
+370 686 24426
[email protected]

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