Banks and accounts

Open an account is the most essential stage. This procedure doesn't take much time or effort. There are a few options: open an account in your name, or the resident name.

The advantages of the first method include the fact that you will have full access, but the procedure will take more time. It is necessary to obtain documents such as residence registration, notarial confirmation of opening a business before opening an account.

The main advantage of the following method is the simplicity of opening an account and doing business. It takes you less than 20 minutes to set up an FLP, moreover, a loan of up to $30,000 is available.

The procedure of opening an account for foreigners begins with the selection of a bank:

• state - the state protects banks by providing favorable lending conditions, while the number of branches often exceeds the number of branches in a private bank;
• private - allows you the opportunity to draw up documents more quickly and choose the right service. They are characterized by more developed Internet banking, and most often, more favorable exchange rates.

Then you need to decide which type of account is needed:

• deposit - all operations are suspended until the expiration of the contract;
• current - all operations are performed by the bank manager;
• card - both ATM and manager transactions are available;
• investment - all operations that relate to the activities of investors. For example, to purchase a share in the authorized capital of a Ukrainian company, money is transferred to a special investment account.

To select the type of account, you need to decide for what purposes it will be used:

• To conduct any financial activities and operate a bank account for non-cash money turnover, it is necessary to choose a card or current account;
• To buy real estate in the secondary market of Ukraine, the card or current account is also suitable;
• To multiply your capital and receive a deposit interest from Ukrainian banks, a deposit account is a good choice.

The account is available for opening in the national currency of Ukraine, as well as in foreign currency (U.S. dollars and euros) regardless of the type of account.