As your business expands, you may find you embark on a local incorporation process or need to set up local payroll and employee benefits and other critical activities in a new jurisdiction. To do this, you need to open a bank account, which can be a complex and time-consuming exercise – especially in an overseas market.
At Vistra, we can recommend banks and assist you in setting up your local bank accounts. We can also advise on banking requirements – covering elements that may not be supported by global banks due to language or regulatory issues.
As part of an accounting or administration service, we can also provide cheque signatories and operate local bank accounts on your behalf. If you don't have your own bank account in a certain jurisdiction, we may be able to offer a local trust/client money bank account operated on your behalf as part of an accounting or administration service.
If you're working across borders, you may require a globally coordinated accounting solution with common processes and controls.