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Why does a business need a temporary account?

A temporary account for a business is a bank account which the business opens during its initial registration process. It is temporary and is opened before a business is founded. This account is necessary for paying in equity (in case your share capital is 50 000 EUR and above) and completing the business registration process. It is not a current account, and it cannot be used for other incoming or outgoing payments apart from the equity payment.

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