Non resident accounts

PROCEDURE FOR OPENING NON-RESIDENT ACCOUNTS FOR LEGAL ENTITIES

(companies, diplomatic and consular offices, non-government organizations etc.)

• Questionnaire for expressing intent for establishing business relation with Stopanska banka

Foreign legal entities in the Republic of North Macedonia may open accounts in all branches of Stopanska banka AD - Skopje.

IDENTIFICATION AND CONFIRMATION OF THE CLIENT’S IDENTITY

Required documents for opening a non-resident account for legal entities are the following:

• Written request for opening the account and for disposing of the account funds, signed by the legal representative of the legal entity, in original.
• Application for identification / update of the client-legal entity  with filled in required data including the final beneficiary in original (enclosed) and a copy of the identification document (ID card or passport) of the final beneficiary.
• Document for registration of the legal entity issued by a competent body, statement of the trade register or another register where records are kept of legal entities in the country where they are registered not older than 3 months, from which the legal representative, the date of founding, the name, address, headquarters, activity, the managers and owners may be confirmed, in original or a copy verified by a notary public or an authorized institution in the domicile country.
• Card with authorized signatories (enclosed)
• For non-resident legal entity – diplomatic office of a foreign country or a representative office of an international organization – document issued by the Ministry of Foreign Affairs of the Republic of North Macedonia or a statement from the Central Register of the Republic of North Macedonia, as well as proxy of the authorized person in the representative office, in original or a copy verified by notary public.
• Agreement for opening transaction account/ID number of the non-resident legal entity   

If the required data for the non-resident (headquarters, owners, managers, activity, final beneficiaries, tax number-if the non-resident has one, etc.) may not be determined from the registration document, SB may require additional documents, such as the statute, a statement, document, recommendation from another bank or another founding act, in original or a copy verified by notary public.  

The above mentioned documents are submitted in original in Macedonian, translated by a certified translator.

The identity of the legal representative and the persons authorized to dispose of the funds on the account of the non-resident legal entity is determined from the following documents:

• valid identification documents (valid ID card or passport with address)
  information / statement whether the non-resident legal entity owns stocks/shares of bearer
• application for identification / update of the client-natural person with all fields completely filled in.

DISPOSING OF THE FUNDS ON ACCOUNTS OF NON-RESIDENT LEGAL ENTITY

• Stopanska Banka enables transfer in foreign currency and MKD upon order of the non-resident
• Transfer of funds without any limitations
• Payment and disbursements in cash according to legal regulations in the country, as follows:
  • payment of FC cash on the non-resident account in the amount up to EUR 9.999 in the course of one month, as well as higher amounts by providing written confirmation on entered FC cash issued by the Customs Office of the Republic of North Macedonia, in the name of the legal entity- payer, with validity of 5 working days from the date of issue, which may be used several times (the limitation of FC cash does not refer to representative offices of foreign countries and international organizations)
  • payment of FC cash on the non-resident account, which represent non-spent FC funds previously withdrawn from the non-resident account
  • payment of FC cash on the account of the non-resident airline based on sale of products to air passengers, by presenting a document for performing air company activity in RNM
  • payment of FC cash on the account of the non-resident airline based on sale of products to air passengers, by a presenting a contract concluded with an air company for undertaking cash
• Payment of MKD cash only based on sale of plane tickets and non-spent MKD cash MKD previously withdrawn from the MKD accounts of the non-resident in any MK Bank, for the period of three months from the date of funds withdrawal. The non-resident must submit a written request as well as a copy of the order for cash withdrawal
• Based on a written request for payment of MKD cash on the non-resident account, a payment of MKD cash on the non-resident MKD account in the amount of MKD 120.000 is allowed per month, without presenting additional documents
• Payment of MKD cash on the account of the non-resident airline based on sale of products to air passengers, by presenting a document for performing air company activity in RSM
• Payment of MKD cash on the account of the non-resident airline based on sale of products to air passengers, by presenting a contract concluded with an air company for undertaking cash
• Disbursement of FC cash and MKD cash without limitations.

DOCUMENTATION UPDATE

According to the Decision on the manner and terms and conditions for opening and keeping non-resident accounts, the documents for identification and registration of non-resident legal entities must be updated at least once a year by presenting the statement from the trade register or other register where records are kept of legal entities in the country where they are registered not older than three months, from which it may be determined that the legal entity worked continuously after opening the account, i.e. in the period from the last update.

If the non-resident legal entity does not supply the required documentation for update after expiry of one year, and if the bank accounts have no turnover for more than two years, the bank proceeds according to the valid regulations, which currently stipulate account blocking.

Non-resident legal entities with the status of state-owned companies may update the documentation for identification, with a document verified by the Embassy on the territory of RSM, confirming that the client has a status of a state-owned company and continuously operates from the last accounts update.

INACTIVE ACCOUNTS

 
According to the legal regulations, the transaction MKD accounts of clients with no balance and turnover in the last two years shall be treated as inactive and the Bank shall close them and notify the client accordingly.