Jordan corporate bank accounts in 2021
Healy Consultants assists our Clients with opening a corporate bank account in Jordan. Our experienced banking team will prepare all required documentation and submit them to their preferred bank. We will also attend the bank interview on your behalf and may assist you with applying to the full range of corporate banking services available in Jordan. Please read below for further information regarding Jordan banking system and our corporate banking services in this country. Our fees for such services amount to US$4,950.
Jordan corporate banking options
- Jordan boasts a mature banking sector, offering both conventional and Islamic banking services to businesses. While Jordan’s banking system has long been dominated by small local banks, often family-owned, foreign entrepreneurs have now access to many global banks, which are mostly present in Amman and other main Jordanian cities;
- We often recommend our foreign Clients to open their Jordanian corporate bank account with a bank with which they already have a bank account in another country, as this will reduce i) time required to open the bank account and ii) the bank’ requirements for our Client’s security check;
- Global banks present in Jordan include i) HSBC ii) Citibank iii) Standard Chartered iv) Societe Generale v) Audi Bank and vi) Arab Bank Corporation;
- Our Clients may also choose to open a bank account with a Jordanian bank. Healy Consultants recommend i) Arab Bank and ii) Bank of Jordan, while i) Islamic International Arab Bank and ii) Jordan Dubai Islamic Bank are excellent choice for Islamic banking services.
Opening a corporate bank account in Jordan
Healy Consultants will be pleased to assist our Clients open a corporate bank account in Jordan, with or without company formation. Kindly refer to this page for general considerations on Healy Consultants corporate bank account services in Jordan and elsewhere in the world. An overview of how our Firm will proceed is also available below:
- Before setting up a business in Jordan, Healy Consultants will assist our Client to choose the best corporate bank account amongst the different banking options available in Jordan;
- During company setup, Healy Consultants will submits the incorporation package to the Ministry of Industry and Trade for pre-approval of our Client’s incorporation project;
- Healy Consultants submits a complete corporate bank account opening application to the bank account including i) pre-approval from the Ministry of Industry and Trade ii) the bank questionnaire forms and iii) all due diligence documents;
- Once the corporate bank account is approved, Healy Consultants emails our Client the bank account details;
- Our Client then proceeds to transfer the share capital onto its Jordanian corporate bank account. The bank issues a certificate of deposit necessary to continue with the incorporation process.
- If requested, Healy Consultants will also be pleased to obtain financial support for their project in Jordan. Please click on this link for general information on these services and kindly contact Healy Consultants to receive tailored information and a quote for such services.
Exchange controls and other regulation
- Although Jordan does not have exchange controls, notification will still be provided to the Central Bank of Jordan for monetary transfers over US$10,000. This is done to disrupt money laundering activities;
- There are no restrictions on the amount of foreign currency that residents may hold in bank accounts, and there are no ceilings on the amount residents are permitted to transfer abroad;
- Non-residents are allowed to open bank accounts in foreign currencies. These accounts are exempted from all transfer-related commission fees charged by the Central Bank of Jordan.