Corporate banking options
- The bank account opening process in Mozambique is a fast and easy affair, and with the right bank, can take not more than two weeks to complete. Healy Consultants can open a non-resident corporate bank account with a top tier international bank for a foreign company without having to set up a local company;
- Banks in Mozambique provide full range of corporate bank account facilities including multiple currencies, internet banking, telephone banking, checking accounts, savings account, debit and credit cards, brokerage services and wealth management services;
- Banking services is generally of poor quality in Mozambique. To receive the best Internet banking and customer service, Healy Consultants recommends using the services of international banks for most corporate bank account solutions following Mozambique business formation. Local banks can be used where appropriate for the company. Local banks in Mozambique include Moza Banco, BancABC, Banco Terra, First National Bank and United Bank of Africa. Our fee for such service is US$4,950;
- Healy Consultants’ Compliance Team can additionally open an international corporate bank account within 3 weeks of Mozambique company formation. There is a chance that the Client will have to travel in order to open the account, though Healy Consultants makes every effort to minimize this probability. Following bank account approval, the preferred bank will directly and independently email our Clients the corporate bank account number;
- To support Mozambique business formation, Healy Consultants assists Clients with trade finance tasks including i) bank guarantees ii) letters of credit iii) finance against trust receipt iv) document against payment and against acceptance;
- Healy Consultants assists in securing corporate finance in the form of a loan, overdraft, or simply preferential credit terms following Mozambique formation;
- There is no limitation on the inflow or outflow of funds for remittances of profits, debt service, capital, capital gains, and returns on intellectual property or imported inputs;
- Mozambique currency is the Mozambican metical and it has a current exchange rate of MZN 31.44 = US$1;
- Healy Consultants can open a local corporate bank account for a foreign company. Many of our Clients use a local corporate bank account to receive payments and pay suppliers without the need to register a local company. Our fee for this service will be US$4,950.
Frequently asked questions
Can Healy Consultants assist me with the opening of a corporate bank account in Mozambique?Yes, opening a corporate bank account in Mozambique is included amongst our professional Mozambique formation services.
Can Healy Consultants assist me with the opening of a bank account even if I do not need other Mozambique company formation services?Yes, Healy Consultants can open a corporate account in Mozambique even for Clients who do not require the provision of our other professional Mozambique business formation services.
Do I need to open a corporate bank account in order to start a Mozambique company?No, a corporate bank account in Mozambique is not legally required to open a company in Mozambique. Our Clients will however be required to provide evidence of available funds to contribute to the capital of their company during Mozambique formation procedures.
Can Healy Consultants assist me with the formation of my Mozambique subsidiary?Yes, our Mozambique formation specialist perfectly knows how to open a company in Mozambique and can help you to complete all the necessary steps for such purpose. Please contact the Healy Consultants officer whose email and contact information is listed below.
Latest information as of 2021