In order for the company to legally function it must have a bank account in order to make transactions and deposit the capital, prior to registration. To open a German bank account, the managing direcotr must have a valid passport and a confirmation that Germany is the current place of residence from the local Public Office (Bürgeramt). In many banks, it is possible to have accounts administrated in foreign currencies.
For account deposits of more than EUR 15,000 cash, banks are required to validate the identity of the depositor
Please keep in mind that capital can be moved in and out of Germany without any restrictions. However, amounts over EUR 12,500, or equivalent payments with valuables, must be reported to the German Central Bank (Bundesbank). These reports are for statistical purposes only.
Whether a person needs to report money transfers from abroad depends on whether his or her place of residence is in Germany, nationality is irrelevant. A person or company with a place of residence or business in Germany must report incoming and outgoing payments from abroad for all transactions over EUR 12,500. Alternately, an investor with a place of residence abroad does not have to register a capital transfer to an account in Germany, even if the investor is the account holder.