Africa: A New Destination for Company Establishment and Bank Account Opening

Let’s suppose that a typical client from a Western country comes to us. He or she needs to register a company and set up a bank account, and we suggest Africa. Reactions will differ depending on what associations he or she has with this continent. Some people are only aware of its downsides, such as war, famine, poverty, disease, and so on. However, we should not forget about the upside: Africa is a developing economy that is aspiring to engage in Western-style business and cooperation and is waiting for investments. As the source reports, there are a number of places in Africa where you can enjoy good banking (at much lower fees than in the rest of the world, of course) and set up a company without any threats to your safety and security.

Of course, this statement may sound doubtful as you hear news from Liberia, Somalia, and the Central African Republic where the two major focuses are weapons and violence. The human brain remembers the bad things better, as you probably know, so the reports about newly-opened businesses in Africa and its image as the land of new opportunities may simply remain unnoticed. What is more, the situation differs a lot from country to country.

Africa is a huge territory, so you should be very selective as the opportunities in one place may be simply impossible in another. The Central African Republic is a notorious place where you will not find a single bank. On the other hand, Rwanda and Botswana are recommendable destinations where there are a lot of local banks and branches of international banking giants, such as Stanbic, Standard Chartered, or Citibank. They operate only in safe, stable, and promising countries, so you can do the equation.

What can we say about African banks? Well, they are different, of course. There are countries where banks are obsolete and they would not even try working with foreigners. Other jurisdictions are considerably more developed, so they cooperate with non-residents from across the globe by providing convenient online banking and state-of-the-industry services.

The banks in Africa seem to bring a new wave to the global banking system with the convenience and simplicity long lost by cumbersome European and American institutions with their transparency craze. If you opt for Africa, you will be able to open an account within just one week without leaving your home.

Googling a query like “setting up a bank account in Africa” will direct you to South African banks only. In this post, we will talk about three more countries where you can safely and conveniently open an account and establish a company.

Botswana: Get Your Account in 30 Minutes

Botswana is one of the most stable states on the whole African continent! Here are its main features:

• Excellent banks that provide top-notch services
• English is the language that quite a lot of local people speak
• The crime rate is rather low
• The infrastructure is well-developed

Botswana gives you a potential opportunity to open a bank account in a matter of 30 minutes. Of course, it means that you should prepare your documents in an ideal way – so you can follow the above link and use expert assistance to be on the safe side and open an account on a guaranteed basis. However, you can try your luck yourself as well.

You will be able to use online banking as soon as you transfer at least 250 euros to the account. A card will be issued for your convenience in 5 days.

Zambia

This is another promising African destination with a developed economy capable of attracting investors from across the globe where you will find excellent banking services. English is the official language here so you will not encounter a language barrier. The country is quite safe (the crime rate is not very high), and it boasts a well-developed infrastructure. Foreign bank branches willingly cooperate with non-residents.

If you decide to establish a company here, you will not come across any administrative barriers: the procedure is pretty quick and straightforward. A bank account will take a little more time: you will get it within 1 week (which is nothing compared to European and American banking). The procedure can be completed online, and you will get access to a stable and convenient banking app to manage your funds.

Rwanda

If a high level of confidentiality is your first priority, opt for Rwanda. A special organization called Rwanda Development Board has been established here to facilitate foreign investments. Its mission is to help non-residents start a business, and you will be able to incorporate your company remotely using a straightforward procedure.

There are three reliable banks in Rwanda that are prepared to cooperate with investors from abroad, so you will enjoy wide opportunities for personal and corporate banking. If you need an excellent solution for high-risk businesses, such as gambling, crypto, forex, and so on, we can offer an excellent solution in Rwanda. Click on the above link to discuss it with an expert.

Africa: An Unexplored Business Reserve

If you are looking for white spots on the world map that have not been discovered by investors yet, take a good look at Africa. You will not have to do the tedious job of separating the wheat from the chaff and compiling a shortlist of African countries that are worth the attention of a serious investor: we have done it in this post!

You can follow the above link to find more information about Africa on the portal or discuss your situation with a specialist using the live chat during office hours or any other means of communication convenient to you. Africa is not the only available option, of course, and is in no way a one-size-fits-all solution. Everything depends on your business and banking needs, and we strongly recommend discussing the details before you make a decision – it will cost you nothing. One thing is true, though: Africa may be exactly what you need in some cases as it offers unique opportunities