Corporate banking options
Healy Consultants’ corporate banking team will expertly handle corporate bank account opening in Ivory Coast for our Clients. We will prepare all the necessary documents and submit to the bank on behalf of the Client, and if needed, we also attend the bank account opening interview on your behalf.
Ivory Coast corporate banking
- Ivory Coast is the banking hub of the West African Economic and Monetary Union (UEMOA) region and the country has eighteen fully operational commercial banks. Most of these banks are concentrated in the economic capital city of Abidjan;
- International banks in Ivory Coast include i) Standard Chartered Bank ii) BICICI and iii) Citibank. If required, Healy Consultants may assist your Firm to open an additional international corporate bank accounts abroad;
- The largest local banks in Ivory Coast include i) Ecobank ii) SGBCI and iii) Atlantic Bank among others;
- Our Client must note that most banks in Ivory Coast only offer customer service in French. Banking in the country is risky as well due to political and financial instability. If required, Healy Consultants will assist our Clients to mitigate these risks through the opening of an international bank account.
Healy Consultants banking services
- To support Ivory Coast company formation, Healy Consultants will assist our Clients with accessing a full range of tailored corporate banking facilities comprising of i) single and multiple currency accounts ii) telephone banking iii) internet banking iv) savings and checking accounts v) debit and credit cards and vi) wealth management services;
- To receive the best online banking and customer service to facilitate Ivory Coast business setup, Healy Consultants recommends using services of the major banks in Ivory Coast as mentioned in the Ivory Coast banking section above for major corporate bank account solutions;
- Some banks require companies to register an entity in Ivory Coast prior to corporate account opening while others do not. Some of the banks may furthermore require some initial deposit for corporate bank account opening.
Opening a corporate bank account in Ivory Coast
- Healy Consultants’ Compliance Team can open an international corporate bank account within 3 – 4 weeks of Ivory Coast company setup;
- Healy Consultants will first register the Client’s company with CEPICI and obtain a registration certificate;
- When the company registration is complete, Healy Consultants will obtain the tax identification number issued by the Director of Taxes on behalf of the Client;
- The documents required for opening a corporate bank account in Ivory Coast are i) completed account opening application forms ii) certificate of Commercial Registration notarized by the foreign authority or notary public iii) notarized Memorandum and Articles of Association of the company written in French or a certified translation thereof iv) notarized resolution of the board appointing signatories to the account v) notarized passport copies of signatories authorized to open the account vi) proof of registered address of the company in Ivory Coast vii) one reference and viii) completed know-your –customer form;
- There is a small probability that the Client will be obliged to travel to meet the bank directors in order to open the account. Healy Consultants, however, does everything necessary to minimize this probability ensuring the Client does not travel;
- After the approval of the corporate bank account, the preferred bank will promptly send by post or email our Client the corporate bank account details and correspondence.
Foreign Exchange Controls and Other Regulations
- The official currency used in Ivory Coast is the CFA Franc and the exchange rate of this currency is fixed to the Euro at €1 to CFA Francs 656. Being a member of the Franc zone, all banking regulations and foreign exchange in Ivory Coast are governed by the Central Bank of Western Africa States;
- Exchange-control regulations exist in Ivory Coast for financial remittances outside the Franc Zone which is a monetary zone that includes France and its former colonies. Remittances outside of the Franc Zone must be approved by the government. Dividends obtained from revenue and capital on disinvestment may be remitted.