What you will need to open a bank account?

1. Complete the application form for the selected bank
2. Pay all fees
3. Complete KYC and AML screening

How long does it take?

the entire process usually takes about one week


What is AML?

AML Anti Money Laundering
Money Laundering is the process by which, criminals attempt to make the proceeds of crime appear legitimate with no obvious links to their criminal origins. This is achieved by three processes:

1. Placement – Placing of the proceeds of crime
2. Layering – Hiding of the proceeds from their criminal origin by ‘layers’ of transactions
3. Integration – Creating a legitimate explanation for the proceeds



What is KYC?

KYC – Know Your Customer

Know your customer (‘KYC’) is the process of a business identifying and verifying the identity of its clients.[1] The term is also used to refer to the bank and anti-money laundering regulations which governs these activities. Know your customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are anti-bribery compliant. Banks, insurers and export creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information.