Requirements from the bank to open account

Banks have specific criteria for account opening, including proof of identity, residence, business details, and legal documentation. This guide provides a brief overview for a smooth process

Company Documents

1) Document verifying incorporation (or an equivalent record)
2) Articles of association and memorandum
3) Certificates of shares
4) Proof of incumbency or standing (for companies aged over 1 year)
5) Shareholder arrangement, encompassing details up to ultimate beneficial owners

Required documents for each director, shareholder, secretary, authorized signatory, and ultimate beneficial owner must be submitted for the account opening process.

1) Valid passport (with signature page and signatures match in the application form).
2) Utility bill or bank statement stating address (dated within last 3 months).
3) Bank reference letter, dated within the previous 3 months, or 6 months’ statements (depending on the chosen bank).
4) Personal Resume.

Necessary documents for each corporate (legal entity) shareholder, if applicable, are required for the account opening process.

1) legal entity documents (such as the certificate of incorporation, memorandum, and articles of association).
2) Corporate register, inclusive of shareholder, director, and secretary registers.
3) Overview of the corporate structure.
4) Certificate of good standing or certificate of incumbency.

Submission of business evidence may be requested by the bank as part of the account opening process.

1) Invoices, contracts, and agreements from your current company
2) Details of a minimum of 3 clients and suppliers each
3) Documents substantiating your qualifications in the business scope

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