OPENING DOMESTIC LEGAL ENTITIES FCY ACCOUNTS

Domestic legal entities can open foreign currency accounts in all branches of Stopanska Banka AD - Skopje (network of branches / sub-branches 56) which cover almost all towns throughout Macedonia .

In order to open foreign currency accounts, the client should submit the following documents:

- certificate from the company register which keeps records of legal entities headquartered in the Republic of Macedonia, not older than six months, from which it can be ascertained: the name, headquarters, activity, registration number and tax number of the legal entity, original or copy notarized with notary public,

- ZP form - original,

- Original of written notification signed by the legal representative and identity document of the authorized person.

The documents can be submitted to all branches of Stopanska Banka AD - Skopje .

In Skopje, the documents for opening account of domestic legal entities are submitted to the following address:

Aneks Sub-branch, " 11 Oktomvri Street " No. 7.
Contact persons: Zoran Kiprovski, Snezana Stankovska
Tel: 3295-316, 3295-178
Email: aneks@stb.com.mk or snezana.stankovska@stb.com.mk

Funds transfer

Orders for transferring funds and distributing inflow are submitted to any branch of Stopanska Banka regardless of where the account is opened.
Regarding orders submitted until 12.00 o'clock, funds are transferred the same day.
The on-line system enables that the funds are transferred in favour of non-residents - SB clients at the moment of receiving the order from the client.

In Skopje Branch, the domestic legal entity can submit the order for foreign currency funds transfer to the following sub-branches:

GRC - " 11 Oktomvri Street " No. 7
Contact persons: Katerina Ivanovic and Mirjana Velkovska
Contact telephone: (02) 3295-435, (02) 3295-433,
E-mail: gtc@stb.com.mk, katerina.ivanovic@stb.com.mk and mirjana.velkovska@stb.com.mk

Vero - "?. Gologanov Street " No. 76
Contact persons: Livanta Trendafilova and Irinka Vucinovska
Contact telephone: (02) 3074-978,
E-mail: livanta.trendafilova@stb.com.mk

Kisela Voda - " Sava Kovacevic Street " No. 14, building 1, entrance 1
Contact person: Slavica Stefanovic
Contact telephone: (02)2770-355
E-mail: sslavica@stb.com.mk

Jane Sandanski - " Jane Sandanski Blvd " No. 24
Contact person: Sonja Coseva and Lence Trpenovska
Contact telephone: (02) 3166-575
E-mail: lence.trpenovska@stb.com.mk

Avtokomanda - " Jani Lukrovski Street " No. 5
Contact person: Pera Doneva
Contact telephone: (02) 3166-575
E-mail: ekspozituraavtokomanda@stb.com.mk

Contact person for branches in other towns in Macedonia is the Branch Manager.

PROCEDURE FOR OPENING NON-RESIDENT FOREIGN CURRENCY ACCOUNTS OF LEGAL ENTITIES
(companies, diplomatic and consular representative offices, non-government organizations and other)

All foreign legal entities in the Republic of Macedonia can open account in all branches of STOPANSKA BANKA AD - SKOPJE .
In Skopje Branch, the account of foreign legal entity can be opened at the following address:
GTC Sub-branch - ground floor, " 11 Oktomvri Street " No. 7.

Required documents for opening non-resident account of legal entity are the following:

- written request for opening account signed by the legal representative of the legal entity - original,

- certificate from the company register or another register which keeps the records of legal entities in the country where the legal entity is registered, not older than six months, from which it can be ascertained the date of its establishing, name, address, headquarters, and activity, original or copy notarized by notary public,

- Evidence on assigned tax number, and if there is no tax number, certificate that it has not been assigned,

- For persons authorized to use the accounts - identity document and original of the written authorization signed by the legal representative,

- For diplomatic representative office of foreign country or representative office of international organization - document issued by the Ministry of Foreign Affairs of the Republic of Macedonia, as well as power of attorney of the responsible person for the representative office, original or copy notarized with notary public.

NOTE:
The clients are obliged to submit updated documents not later than within 2 years from the date of their last updating.

Contact persons for Skopje Branch
Vera Dukovska, Vesna Aleksovska and Aneta Velkovska
Tel: (02) 3295-140
Fax: (02) 3295-141
e-mail: gtc@stb.com.mk

DOCUMENTATION UPDATING

In accordance with the Decision on the manner and terms for opening and keeping non-resident accounts, the Bank is obliged to update the identity documentation of the non-resident legal entities at least once in 2 years.

The clients that have not submitted updated documentation to SB are required to submit as soon as possible certificate from the company register (original or copy notarized with notary public), not older than six months, which presents the date of establishing the company, name, address, headquarters, activity and tax number.

In case the client does not submit the abovementioned documents, in accordance with the legal regulations, SB is obliged to close the account of the non-resident within six months, i.e. until 10.10.2007. Any possible balance at that time will be transferred to an account according to the client's instructions.

Dormant accounts
The Decision stipulates that the accounts in which there is no turnover for at least one year are treated as dormant accounts and the Bank is obliged to close them. Any possible balance at that time will be transferred to an account according to the client's instructions.