There may also be the need to open an International Bank Account. IBG Consulting can assist with opening company bank accounts in other jurisdictions other than the UAE.

IBG Consulting is an official introducer to major banks in key jurisdictions and assists our clients to open corporate bank accounts and in most cases without the need to physically travel to these jurisdictions. We liaise with the bank to conduct the pre-approval procedures and facilitate the account opening in a relatively short time period.

For most cases, a foreign company seeking to open an international corporate account is expected to provide the following documents. (note that this is not an exhaustive list.

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Requirements

The requirements may vary and do vary based on the specific case and nature of business).

  • Signed Corporate Account Opening Pack
  • FATCA Forms (where applicable)
  • CRS Forms (where applicable)
  • Business Plan (as per the bank’s template)
  • Full Organogram Up to Ultimate Beneficial Owner(s) showing full name(s) and percentage holdings of all parties (if any)
  • Certificate of Incorporation
  • Certificate of Good Standing/ Incumbency Certificate/ Payment Receipt (if the company has been incorporated for more than 1 year)
  • Memorandum and Articles of Association
  • Register of Directors and Shareholders (with 20% or more shareholding)
  • Valid Passport copy/ ID card of all authorized signatories, directors, shareholders (with 20% or more shareholding) and UBOs
  • Proof of address dated less than 3 months of all authorized signatories, directors, shareholders (with 20% or more shareholding) and UBOs
How we do Banking?

Our bank account opening services are not designed to facilitate tax avoidance or Anti Money Laundering/Financing of Terrorism Regulations. We also do not offer tax advice and so urge our clients seeking international account opening assistance to speak to their tax lawyers to fully understand their tax obligations. It is important that they fully understand their personal and corporate tax obligations when undertaking this service.

While opening international accounts has become increasingly difficult due to regulations, IBG Consulting is well informed to assist clients in the most professional manner ensuring every detail is understood.

For additional information on our international corporate bank account opening services, please contact our in-house consultants.

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