Application Fee: US$1,000 (non-refundable)
Activation Fee: US$450 (upon account opening)
Applicants applying through the Bank's Designated Corporate Service Providers can enjoy a special offer.
Contact us or talk to your service providers to find out more.
* Enhanced Due Diligence (EDD) may be required when additional information is necessary to verify identity or source of income/wealth. You will be notified of such requirements and, upon your consent, the related charges will be passed on to you at cost.
* Please refer to our Fee Schedule for more information.
01. Prepare Required Documents
-Duly Completed Account Opening Form
-Valid Business Registration Certificate
-Certificate of Incorporation and subsequent Certificate of Change of Name
-Memorandum and Articles of Association, “By-laws” or applicable constitutional documents
-Domicile business proof (e.g. L.C. copy, invoice, license, annual report etc.)
-Minutes / Resolution of the Board of Directors to open an a/c and confer authority on those who will operate it(if any)
-Bank Statement, Employment Letter or ATM Statement (for Proof Source of fund) Banker’s Reference (if required)
-Documents from Directors (at least 2 directors including managing director), Beneficial Owners and Authorized --Signatory (ies), Sole Proprietor and all Partners
-All Directors’ Identification Information (Name, ID No. and Type)
02. Submission and Approval
Submit full set of application to MGCB after preparation of required documents.
Bank Officer will review the application and adopt CDD and KYC to applicant.
After reviewing your application, MGCB will inform you if the bank account is successfully opened or require further information/documents to continue the process.
* Currently we require First funds-in from banks registered in countries under FATF (Financial Action Task Force); however, special cases will be considered on a discretionary basis.