Bank Account or Company Account with an EMI
A traditional bank account is selected primarily by the country and currency of the payments. For sales in Poland, a PLN account is convenient; for the Czech Republic, CZK; for the United Kingdom, GBP; for European clients, EUR/SEPA. The English company remains the same UK Ltd: only the bank details change.
In practice, a local bank is particularly convenient when the company receives regular payments in local currency, pays local suppliers or the director lives in that country. Bank Pekao expressly coordinates account opening for corporate residents and non-residents, while Komerční banka maintains corporate accounts in CZK and several foreign currencies.
An EMI is convenient for fast EUR/GBP payments, several currencies and online management. For a large project, a traditional bank can be used as the primary account, while an EMI or second bank is used as an additional account for another currency or region.
For Asia, an English company can also open bank accounts: DBS serves foreign incorporated companies in Singapore, OCBC offers a Business Foreign Account to businesses registered outside Singapore, and Standard Chartered Hong Kong publishes a separate document package for companies incorporated in other countries.
- PLN — Poland
- CZK — Czech Republic
- EUR / SEPA — Europe
- SGD — Singapore
- HKD / USD — Hong Kong
- Primary + second account for one UK Ltd