Today, banks and other financial institutions have become more demanding in terms of asking customers to have their companies have substance. This means that banks are moving away entirely from shell companies.
By substance, banks want to determine if the company has an address from where it operates and perhaps a utility bill, but also accounting. Clients must be aware that the world has changed; transparency is the norm, and with it comes responsible tax and estate planning. Also, a bank account is a coveted asset these days; therefore, complying with taxes and having declared assets is more valuable. Banks are risk-averse; therefore, if you are not a risk, the business will be more interesting for the bank.