The best countries for a business bank account, and for your own money

The strongest all round business banking in Asia: multi currency as standard, excellent treasury tools, high regulatory quality.

Opening from abroad

Usually needs a local company and at least one director interview, in person or by video, plus proper substance.

If the bank fails

SDIC covers 100,000 Singapore dollars per depositor per scheme member.

Currencies

Excellent. SGD, USD, EUR, GBP, CNH and more in one account.

What it costs to run

Business accounts commonly need a minimum balance, often 1,000 to 30,000 Singapore dollars, or fall back on monthly fees.

The catch: Onboarding is thorough and slow, and shell arrangements are refused outright.

Faster Payments clear in seconds, current accounts are usually free for personal use, and the regulated app banks open in a day.

Opening from abroad

Hard without a UK address. Non residents are normally limited to international arms of the big banks or regulated electronic money firms.

If the bank fails

FSCS covers 85,000 pounds per person per bank, and 170,000 pounds for a joint account.

Currencies

Sterling first, with multi currency accounts widely available.

What it costs to run

Personal current accounts commonly free. Business accounts from nothing to about 15 pounds a month.

The catch: The de-banking problem is real here. Cash heavy trades, crypto, adult services and some overseas ownership get refused or closed.

The deepest card and payment ecosystem anywhere, and business banking built for startups is genuinely good.

Opening from abroad

Possible for a US registered company with an EIN through fintech business banking, often without visiting. Personal accounts usually need presence.

If the bank fails

FDIC covers 250,000 dollars per depositor per bank per ownership category.

Currencies

Dollar first, with poor native multi currency support.

What it costs to run

Business accounts often free with balance conditions. Wires cost more than in Europe.

The catch: Domestic transfers are slower than Europe, and a US company brings US filing duties even when nobody involved lives there.

Still the reference point for holding serious personal wealth safely, with excellent multi currency and custody services.

Opening from abroad

Yes for non residents, at private banks, usually with a large minimum and full source of funds evidence.

If the bank fails

Esisuisse protects 100,000 francs per client per bank.

Currencies

Franc, euro, dollar and sterling all handled well.

What it costs to run

Non resident accounts often carry fees of several hundred francs a year, with minimums from 100,000 francs upward at private banks.

The catch: Banking secrecy against your own tax authority is gone. Swiss banks report UK, US, Australian, Canadian and New Zealand clients automatically.

Pairs no personal income tax with proper local business banking, and works well for Gulf, Africa and Asia trade.

Opening from abroad

Needs a UAE company or residence visa in nearly every case, plus an in person visit.

If the bank fails

No general deposit guarantee scheme. Central Bank supervision and past state support carry the confidence.

Currencies

Dirham pegged to the dollar, with good USD handling.

What it costs to run

Minimum balances of roughly 50,000 to 500,000 dirhams are common, with fees below that.

The catch: Account opening can take weeks and gets refused where the business has no real activity in the country.

Euro area banking in English, inside EU rules, with SEPA reach across 36 countries.

Opening from abroad

Easier with an Irish company or address. Some banks accept EU residents remotely.

If the bank fails

Deposit Guarantee Scheme covers 100,000 euros per depositor per bank.

Currencies

Euro first, sterling widely handled.

What it costs to run

Personal accounts often a few euros a month, business accounts higher.

The catch: A thin market with few banks, so a refusal leaves you with limited alternatives.

The most realistic route to a euro IBAN for a small international business that a high street bank will not take.

Opening from abroad

Yes, remotely, with company documents and beneficial owner identification.

If the bank fails

Electronic money firms are not covered by deposit guarantees. Client money must be safeguarded in segregated accounts instead.

Currencies

Euro plus a good spread of majors.

What it costs to run

Typically 10 to 100 euros a month depending on volume.

The catch: Safeguarding is not deposit insurance. Keep operating balances only, and check the firm holds a full licence rather than an agent permission.

Excellent for trade with mainland China and for multi currency treasury.

Opening from abroad

Needs a Hong Kong company and normally a director visit, with heavy documentation.

If the bank fails

Deposit Protection Scheme covers 800,000 Hong Kong dollars per depositor per bank.

Currencies

HKD, USD, CNH, EUR and GBP handled well.

What it costs to run

Minimum balance requirements are common, and low balance fees are charged.

The catch: Onboarding standards tightened sharply. Businesses with no Asian activity are often turned away.

Strong consumer protection, fast domestic payments and the highest guaranteed deposit cover on this list.

Opening from abroad

Several major banks let a migrant open before arrival, with identification completed at a branch on landing.

If the bank fails

Financial Claims Scheme guarantees 250,000 Australian dollars per person per licensed bank.

Currencies

Australian dollar first, foreign currency accounts limited.

What it costs to run

Everyday accounts commonly free, international transfers expensive.

The catch: Poor multi currency support, so a separate provider is usually needed for overseas payments.

Stable banks, good newcomer packages, straightforward joint and family accounts.

Opening from abroad

Newcomer programmes let you start the process before arrival, with identification on landing.

If the bank fails

CDIC covers 100,000 Canadian dollars per depositor per category per member institution.

Currencies

Canadian and US dollar handled well, others less so.

What it costs to run

Monthly fees of roughly 4 to 30 Canadian dollars unless waived by balance.

The catch: Domestic transfer fees and card acceptance lag behind Europe.

One of the few places a non resident can still open a real bank account quickly, in person, with a passport.

Opening from abroad

Yes, usually the same day at a branch in Tbilisi with a passport and a simple purpose statement.

If the bank fails

Deposit insurance covers 15,000 lari per depositor per bank.

Currencies

Lari, dollar, euro and pound in one account.

What it costs to run

Low, often a small opening fee and modest maintenance charge.

The catch: Low deposit cover and a smaller economy, so treat it as a working account rather than a place to store wealth.

Simple, clean retail banking with low friction for residents.

Opening from abroad

Some banks allow a migrant application before arrival, activated with identification on landing.

If the bank fails

The Depositor Compensation Scheme protects up to 100,000 New Zealand dollars per depositor per institution from 1 July 2025.

Currencies

New Zealand dollar first.

What it costs to run

Low monthly fees, expensive international transfers.

The catch: Small market and limited multi currency options.