International banking has been of particular interest to Iranians during the post-sanction period in Iran. The focus on banking is still evident, with many businessmen and international companies on the lookout for viable solutions.
More than a year has passed since the lifting of sanctions and restrictions imposed by the United Nations and the European Union and still many European banks continue to refuse the provision of services to Iranians and the permission of Iran-related transactions. However, there is an evident trend of fading of such obstacles as European banks start improving their communication with Iranian banks.
During the sanctions period and immediately after it, opening a bank account in European countries for Iranians (particularly for those resident in Iran) was a serious problem. We are glad to inform Iran nationals that opening a bank account in Europe is a reality now and that they can enjoy the benefits of maintaining an account in certain European banks.
We surveyed some of the countries in the region we operate in with a goal of presenting the below information of interest to Iranians interested in opening a bank account in Europe.
CROATIA: The treatment of Iran nationals is identical to other non-EU nationals during the standard bank account opening procedure. Clients are required to be physically present in the bank during account opening and must possess a valid passport as well as go through a security check. Iranian companies can also open bank accounts in Croatia. It is worth noting however, that many banks in Croatia are foreign-owned, with ownership from Italy, Germany or Austria and as such may adapt the case-specific rules applicable to Iranians based on the policies of the western EU countries.
ROMANIA: Bank account opening is possible in Romania either with an actual bank visit of the account beneficiary or by using a proxy where additional documentation (beyond a passport) is required. Iranian legal entities can also open bank accounts in Romania, provided all required documentation is presented (including company registration certificates and bank creditworthiness letter). Swift transactions with Iranian banks can be performed.
While banks in UKRAINE do not currently carry out transactions with Iranian banks, nationals of Iran as well as legal entities registered there can open bank accounts following successful completion of Know Your Customer (KYC) procedures. The same possibility exists in GEORGIA as well, whereas in EGYPT only individuals can open bank accounts.
For more information about banks and how to open an account please contact the consultant of our company.
International Customer relationship manager, Iran
Company Contact numbers: 0035722699222
Mobile and Telegram: 00989123138762