Prikhodko&Partners
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Opening an account abroad
International corporate law Opening an Account for an IT Company

Taras Miroshnychenko

Head of International Corporate Law and Fintech Practice

E-mail

miroshnychenko@prikhodko.com.ua

Phone numbers

Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.

Opening an Account for an IT Company

For most IT companies, opening a corporate account abroad is one of the first tasks after business registration. It is through the account that the company receives payments from clients, pays remuneration to contractors, works with international payment systems and attracts investments.

At the same time, banks and payment institutions are increasingly attentive to IT business. If earlier SaaS projects, software development companies and startups were considered desirable clients, today financial institutions check not only corporate documents, but also the business model, revenue structure, client geography and tax structuring.

That is why opening an account for an IT company often requires preliminary preparation and proper presentation of the business to the bank or EMI provider.

Get a consultation on opening an account for an IT company

What account to choose for an IT company

The choice of financial institution depends on the country of company registration, business model and future operations.

IT companies most often use:

classic corporate accounts in banks;
accounts in EMI (Electronic Money Institution);
fintech solutions for international payments;
multi-currency accounts for working with different currencies;
merchant solutions for SaaS and online sales.

In practice, there is no universal solution. For a service company that works under the outsourcing or outstaffing model, some banks may be suitable, while for a SaaS platform, marketplace or AI startup, the requirements will be completely different.

Special attention should be paid not only to tariffs, but also to the bank’s attitude to IT business, the speed of international payments and the possibility of scaling the financial infrastructure.

Comparing banks and payment providers for an IT company

Provider	When to consider it	Key features
Wise Business	An outsourcing company receives international revenue and pays contractors in different countries.	Currency account details, currency conversion and batch payments.
Revolut Business	A distributed team needs corporate cards, expense controls and payment automation.	Multi-currency accounts, cards, expense approvals and a Business API.
PKO Bank Polski	An IT company in Poland has local expenses and needs banking products.	PLN and foreign currency accounts, cards and business credit products subject to separate approval.
LHV Pank	An Estonian company can demonstrate a business connection to Estonia and a need for a local account.	A bank account, payments, corporate cards and accounting system integrations.
Payoneer	An agency or developer receives payments from international clients and platforms.	Receiving account details, payment requests and contractor payments.
Airwallex	A SaaS business or platform needs international transactions and integrated payment features.	Multi-currency accounts, online payment acceptance, corporate cards and APIs.
Paysera	Most company receipts and expenses involve euro payments with European counterparties.	A business account, SEPA and SEPA Instant.
Mercury	The company is registered in the United States and has existing or planned U.S. operations.	Accounts through partner banks, ACH and wire transfers, cards and expense controls.

For example, an outsourcing company may prioritise the cost of receiving revenue and paying its team, while a SaaS business may need merchant acquiring and recurring payments. Having an account does not automatically provide access to every payment feature.

What documents are needed to open an account

Banks and payment institutions seek to understand exactly how the company operates and where the funds will come from.

Usually requested:

founding documents of the company;
information about directors and beneficiaries;
description of the business model;
website or product presentation;
contracts with clients or partners;
financial forecasts or business plan;
information about the tax residency of the owners.

For startups that do not yet have revenue, banks often analyze the project’s funding sources, investment structure and professional experience of the founders.

Type of IT business	Compliance risk level	Main bank focus
Software Development	Low	Contracts and clients
SaaS	Medium	Business model and payments
AI Startup	Medium	Funding sources
Marketplace	High	Merchant and AML risks

Prepare documents for a bank or EMI provider

Why IT companies receive refusals

Despite the generally positive attitude toward the technology sector, banks often refuse even promising IT companies.

The most common reasons:

absence of a clear description of the business model;
insufficiently informative website;
complex international ownership structure;
absence of confirmation of future incoming funds;
mismatch between the company’s country and the tax residency of the founders.

Questions especially often arise regarding startups at early stages of development, companies with distributed teams and businesses that operate in several markets at once.

That is why it is important to assess the expectations of a specific bank before submitting an application and prepare a package of documents that will meet its internal requirements.

How “Prikhodko and Partners” helps IT companies

The “Prikhodko and Partners” team supports IT companies at all stages of international development — from business registration to building banking and tax infrastructure.

Before starting work, we analyze the company structure, revenue model, client geography and needs for international settlements. This allows us to immediately choose banks or EMI providers that work with the relevant type of business and have the highest chances of a positive decision.

The specialists of “Prikhodko and Partners” help prepare the company’s corporate profile, business model description, package of documents for KYC and AML check, and also support communication with the bank until the account is opened.

We have practical experience working with software development companies, SaaS projects, AI startups, marketplaces, fintech companies and international holding structures. Thanks to this, we can take into account not only banking requirements, but also issues of tax structuring, attracting investments and future business scaling.

If your IT company needs to open an account abroad, it is important to prepare the business model, documents and position for the bank or EMI provider in advance. The lawyers of “Prikhodko and Partners” will help select a financial institution, prepare a package of documents and support communication until the account is opened.

Calculate the cost of services

1 question

Have you already received a refusal from a bank or EMI provider?

Yes

2 question

Does your company work with international clients or contractors?

Yes

3 question

Do you want to prepare a package of documents before submitting an account application?

Yes

FAQ

Can a startup open an account without existing clients?

Yes. Many banks and EMI providers work with startups, but may require a business plan, financial forecasts or confirmation of funding sources.

What is better for an IT company — a bank or EMI?

It all depends on the business model. For international operations and quick launch, EMI solutions are often suitable, while for attracting investments or large turnover, a classic bank may be more appropriate.

Do you work with IT companies registered in the EU, the USA and the United Kingdom?

Yes. We support account opening for companies in EU countries, the United Kingdom, the USA, Canada, the UAE and other popular international jurisdictions.

Successful cases on the topic: