Bank Accounts are subject to the local laws and regulations of the countries where they are held. The varying regulatory and legal requirements across these country groups affect the account opening timelines. This information should be considered as indicative only, and is intended to serve as a guide for planning purposes.
Note: A significant portion of the documentation requirements are driven by the Central Bank and/or Local Regulatory bodies in the countries where the accounts are being opened. In such circumstances the need to comply with these requirements are not within Citi’s control.
Based on our global experience with Account Opening Documentation and related processes, we have segmented countries into three categories based on the relative ease of documentation submission as follows:
Countries in this category have local regulations with relatively standard documentation requirements. Typical account opening efforts are low, involving gathering necessary signatures, and supplying documents that are often readily available from a client's perspective. Citi Solutions (i.e. eSubmit and/or electronic signatures) are enabled for required documents in these countries.
These countries may require additional documentation to those in the LIGHT category for account. Expected effort in this category will include allowing for more time to complete forms with greater details including signer information. Citi Solutions (i.e. eSubmit and electronic signatures) are partially enabled for required documents.
The countries in this category have extensive requirements for account openings governed by strict Central Bank and local regulatory agencies that prescribe acceptance of only specific forms of mandates and constitutive documents, authority and identification documents. Account openings in this category require additional effort when compared to others. This adds to the lead time when opening accounts in these countries.
The information provided in this section is intended to be a high-level guide to country requirements. Click on this link for a list of all the required documents for Account Opening. This list is for your information only. Upon your confirmation, a final list will be generated and provided to you for submission. The final list excludes any valid document Citi has on file. Please contact your Client Executive/ Relationship Manager / Citi Representative before completing a form or submitting any document.
For a further breakdown of typical documentation requirements by each country, visit our Country Comparison Chart to compare up to 5 countries at a time.
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