Individuals – residents and nonresidents can open FX accounts
Opening retail FX accounts – residents:
Residents are individuals with permanent residence in the Republic of Macedonia or persons with temporary residence in the Republic of Macedonia based on a valid residence permit, or work visa valid for not less than 6 months.
To open a FX account, individuals – residents have to possess a valid ID card or a travel document and present them at the Bank’s counter desks.
Application Form for registration of a client – individual.
The Bank opens a transaction account to the account holder provided he/shesatisfies the following requirements:
- submits Application Form for opening an account
- completes Application Form for identification/update of a client – individual
- completes Attachment 1 FATCA Questionnaire for clients – individuals
- submits documentation to ensure identification of the account holder, representative and persons authorized to manage the funds on the account taking into consideration the regulations including provision of the Law on Money Laundering Prevention and
- submits all necessary data and other documentation pursuant to the applicable regulations and possibly other documentation requested by the Bank.
The documentation required for opening an account is to be presented in original or photocopy verified by an authorized person (Notary Public), while the Bank mandatory retains a photocopy of the documentation presented.
The Bank, after receiving the Application Form for opening an account and fully completed documentation, concludes Transaction Account Agreement and opens the account or rejects the Application.
Opening retail FX accounts – nonresidents
Foreign individuals residing in the Republic of Macedonia may open an account in Stopanska banka a.d. Bitola at the Bank’s counter desks in a number of cities throughout Macedonia.
A client, foreign individual – nonresident is identified by submitting the following documents:
- valid identification document such as travel document, original or a notarized copy or verified by a competent institution in the domicile country;
- valid ID card if the person comes from EU Member State or from a country with which Republic of Macedonia has concluded bilateral agreement for cross-border travel of nationals of both countries (Serbia, Albania and Montenegro).
In case where the presented identification document fails to include any necessary data, the Bank may request another public document or the client’s notarized statement of the requested data and accuracy.
The Bank opens an FX account to a nonresident, if he/she satisfies the following requirements:
- Application Form submitted for opening an account;
- Completed Application Form for identification/update of a client – individual;
- completed Attachment 1 FATCA Questionnaire for clients – individuals;
- submitted documentation to ensure identification of the account holder, representative and persons authorized to manage the funds on the account taking into consideration the regulations including provision of the Law on Money Laundering Prevention; and
- submitted all necessary data and other documentation pursuant to the applicable regulations and possibly other documentation requested by the Bank.
- submitted Statement of Knowledge of the Regulations of Republic of Macedonia under which the client has identified the status of nonresident in the Bank
The Bank, after receiving the Application Form for opening an account and fully completed documentation, concludes FX Account Agreement and opens the account to the nonresident or rejects the Application.
The account may be managed by the person who has opened the account or by a person authorized by the him/her who has deposited a signature.
A person authorized to handle accounts of nonresident – individuals is identified by own valid identification document adequate to the client’s status and written authorization signed by the account owner, original or notarized copy/ verified by competent institution in the domicile country.