With its ultra-low corporate tax rate, vibrant English culture, friendly people, great location, growing economy, and EEU zone, Ireland has been among the top few choices for business incorporation. It has large cities, beautiful countrysides, and thriving youth culture, many are driving ahead to make it their home.
If you are among the many who is thinking, or has already incorporated in Ireland, welcome! Now, you need a bank account in Ireland to do business.
It is pretty straightforward, and you will be asked for the following document at the branch to apply for your account:
Yes, it is possible to open a bank account in Ireland as a non-resident.You will need:
Do not want to furnish such details? Personal visits to the bank a problem? You should try the online IBAN account from www.Monvenience.com, which will give you an International IBAN account with SEPA and SWIFT transfer to transact business, and accessible from anywhere, through your laptop or mobile phone
Ireland has a large option of full service banks and you can also choose from local banks such as the Bank of Ireland or international giants such as Barclays.
Bank of Ireland: They have the largest network of ATMs and branches across Ireland, and their debit cards come with all their accounts. Online applications are allowed but visits may be necessary before accounts are approved. They have different types of accounts like current, basic business and student accounts. You may also qualify for loans and overdrafts if your records are good. Minimum balances are required for most accounts.
Allied Irish Banks: Their basic account come with minimum balance of 2500 Euros. Most accounts can be opened online and includes debit card, online banking, a phone help desk and SMS service. Business accounts require more deposits and minimum balances and financial advices can also be availed.
Ulster Bank: Basic account comes with 4 Euros of monthly fee, which can be waived if you keep a minimum balance of 3000 euros. Accounts include overdraft, contactless debit card and emergency cash that you can withdrawal with a code from an ATM if you lose your card. Student’s accounts are free, if the student is a full time student.
Permanent TSB: The basic account is free with 1% interest if you keep a deposit of 1500 Euros. Service are similar with other bank’s basic account services.
Ireland banks have a government stamp duty on Debit cards. Banks may also charge to close accounts, will certainly charge for overseas card use including withdrawals. Some banks charge for over the counter transactions as well. Read the fine print carefully, and ask for charge list from your bank relationship manager.