Documents Required for Bank License

Individuals and companies that wish to establish an offshore bank are required to submit certain documents to the relevant regulatory body of the jurisdiction in order to obtain a banking license. The application procedure for the bank licensing is often complex therefore it is advised to seek the assistance of a professional consultancy firm to complete it successfully.

Necessary Documents for Obtaining a Bank License

The financial regulatory authority of each jurisdiction outlines the minimum criteria that must be met for banks and financial entities to legally operate in the region. Due to the number of prerequisites that must be satisfied to obtain a bank license from the jurisdiction’s regulatory body, it is advisable to enlist the professional guidance of a consultancy firm.

The following is a brief outline of the documents that individuals and companies will be required to submit with their bank licensing application. This list is not exhaustive:

  • Evidence of the minimum capital through providing bank statements
  • Statutory declaration of shareholders
  • Contact details for each shareholder
  • Indication of the type of shares
  • CV of shareholders and directors

In addition to the above mentioned documents, the following documents must be filed to form the banking institution:

  • Memorandum and Articles of Association
  • Certificate of Incorporation
  • Business plan
  • Signed Indemnity form

This is an overview of the general documents that are required in most jurisdictions. However in order to find out the specific requirements for your chosen jurisdiction, it is advised to contact a professional consultancy firm.

Starting Business offers many years of experience in offshore bank formation and licensing in jurisdictions around the globe. Contact Us for information.