Ireland Bank Account

Ireland Corporate Bank Account Opening Services

Ireland is a popular destination for business incorporation, and with an increasing number of companies moving their operations to the region, there are pressures to open local business bank accounts. Having a bank in the same region as your business offers a variety of advantages to your company as well as capital stored in the bank.

Irish Corporate Bank Account Benefits

• Ireland has well-established banks which offer plenty of options.
• Irish banks provide a variety of plans that suit most business entities.
• Some banks have programs specifically designed for local businesses which can provide up to two years of waiver of transaction and maintenance fees.
• Most banks offer a 24-hour support line for companies which can be very advantageous for startups.
• Many banks provide exclusive services to new business bank accounts like a free custom webpage with a unique domain name for up to one year.
• Irish bank accounts have a large number of resources available at their disposal to assist business bank account holders.
• Irish bank accounts are well versed with local incorporation policies which will make it easier to conduct business transactions with your local bank account.
• Irish bank accounts are well known all over the world and have a global presence which will help in doing business in various jurisdictions.

Requirements for a bank account in Ireland

The documents needed to open a corporate bank account is subject to your business entity as well as the bank account type. In general, you will need the following set of documents:

• Two types of ID which include a photo of an individual opening the bank account.
• A valid bank mandate form which confirms that you have the authority to open a bank account on behalf of your company.
• Signature samples of anyone who would potentially have the authority to use the bank account.
• Proof of business location.
• Memorandum and Articles of Association as well as Certificate of Incorporation for limited companies.
• Certificate of business name.
• A new customer will have to provide evidence of banking history to indicate reliability. This is done to protect all account holders.

Key Information

• If you have a registered company in Ireland, you can open a bank account even if you are a non-resident.
• If your company is not registered in Ireland, it might still be possible for non-residents to open a bank account in Ireland but it will depend on where your business is registered and the type of entity it is.
• Most banks will require you to be physically present at a branch of the bank when submitting the documents for opening a new bank account.
• Under special circumstances, some banks may allow a sole trader to register for a bank account online.

How More Group can help you

There are plenty of options available when opening up a bank account in Ireland, but these options can be confusing. It is essential to have a full understanding of the terms and conditions before opening a company bank account. This will ensure you are aware of transaction charges and whether it suits your business model or not.

Choosing the right bank to open your account with is another decision which needs careful consideration, and it can help to have external professional guidance. Some bank account packages can appear advantageous on paper but may include hidden charges.

More Group is experienced in opening business bank accounts in Ireland and across the globe. We have supported many local and non-resident clients in setting up a successful business in Ireland with an accompanying bank account. Following an assessment of your business model, we can advise on the most suitable banking options and guide you through the banking policies in Ireland.