Since the bank asked for it, just pay for it. The bank included the certificate of incumbency as one of the documents required. Which bank does not require?
Offshore company corp occ / Ibc ltd
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Since the bank asked for it, just pay for it. The bank included the certificate of incumbency as one of the documents required. Which bank does not require?
I have not been in need of this for new companies! I opened accounts in Cyprus, Mauritius and even one in Belize! But since you got it for free it doesn't matter but the banks will request a up to date one in a year or so, make sure you get it for free at this time!
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You see, different bank has different requirement. Like I ever tried in Singapore, the bank did ask for it. So I just pay for it. Just in case I want to open a few bank accounts.
For totally new company? What is their definition of new company? Within 3 months?
Usually you incorporate your company and ask the agent to open the bank account right away so you avoid these certificates in question. If you do it later on, say 6 months later you will need a certificate of incumbency if you wait 1 year or more you will as well need a certificate of good standing!
I used to have that when I opened an offshore bank account years ago. But recently, banks asked from me. I was surprised. You know some bank staffs, they asked for every damn thing. So to cut down the time to argue with them, I paid for everything. My goal is very simple, pay and get over and done with. Because if I am short of 1 document which sabotage the process, I will incur more time and money. Do everything one shot.
This time I agree with you. It's the right way to get things done!
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Just called up my service provider to confirm, some banks will require certificate of incumbency even it is a newly setup company. OCBC Bank is one of those.
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