What are the requirements to open domestic deposit accounts?

Individual

• Two photographs for saving account with valid and renewed I.D. card;

Individual Trader (Sole Proprietorship)

• Valid and renewed I.D. card;
• Renewed trade license:
• One recent passport size photograph;
• Tax Identification Number (TIN).

Private Limited Companies (PLC) and Share Companies

• Renewed trade license in the name of the company;
• Memorandum and article of association attested, registered and sealed by Documents Authentication and Registration Office;
• Letter requesting to open and operate the account, which shall be the authorized person/s stated in the memorandum and article of associations and that bears the company’s official stamp. Or with the minutes of resolution signed and stamped regarding delegation of authorized person/s who operate/s the account if not stated in the memorandum and article of associations;
• Valid and renewed I.D. card of the authorized person/s to operate the account;
• Tax Identification Number (TIN).

Legitimate Partnership

• Renewed trade license and investment certificate in the name of the partnership:
• Partnership agreement attested, registered and sealed by Documents Authentication and Registration Office.
• Letter of requesting to open and operate the account, which shall be signed and sealed by the official stamp of the partnership, if any;
• Valid and renewed I.D. card of the authorized person/s to operate the account

Share Companies

• Renewed trade license in the name of the share company;
• Memorandum and article of associations attested, registered and sealed by Documents Authentication and Registration Office;
• Minutes of the board of directors with regard to the opening person/s and operator/s of the account;
• Letter requesting to open and operate the account, which shall be signed by the board chairman and bears the company’s seal;
• Valid and renewed I.D. cards of the authorized person/s to operate the account:
• Tax Identification Number (TIN).

Public Schools

• Letter of authority from the respective City Administration Education bureau, Regional/Zonal/Wereda education bureau, or from sub-city education bureau (for Addis Ababa city);
• Valid and renewed the ID card of the authorized person/s to operate the account.

Higher Education (Government Owned) Colleges and Universities

• Letter of authority from the ministry of education or from their respective colleges/universities; OR
• From regional education bureau as appropriate; OR
• On the strength of the institution’s letter of request, if the institution was established by proclamation and announced on ‘Negarit Gazeta’;
• Valid and renewed I.D. Card of the authorized person to operate the account.

Public Enterprises

• Public enterprises shall produce the -Negarit Gazetta” for its establishment.
• Letter of appointment of the General Manager by the Board of management.
• Letter of request to open and operate the account by the general manager or his/her delegate/s:
• Valid and renewed I D card of authorized signatories.

Cooperative Societies

• Certificate of registration issued by the appropriate organ However, if they are under the process of formation a letter of authority from the respective organizing body:
• Approved and registered rules and regulations of the cooperative with each page bearing official stamp of the registering body and the cooperatives.
• Minutes of members’ resolution at the last general assembly In case. they are under the process of formation a letter of intent signed by all members;
• A letter of request by the chairperson to open and operate current account;
• Valid and renewed I.D. card of authorized person/s.
• Support letter from concerned government organ:
• Article and memorandum of associations.

Trade Unions

• Certificate of registration from the pertinent ministry or regional bureau of labor and social affairs;
• Approved and registered rules and regulations of the trade union. Each page of these rules and regulations shall bear the official stamp of the registering body and trade union;
• Resolution of the general assembly appointing the executive committee of the trade union bearing the official stamp of the trade union and registering body;
• Minutes of the executive committee;
• Letter of request by the chairperson to open and operate the account
• Valid and renewed ID cards of the authorized signatories

Associations and Clubs

Associations and clubs could be professional and non-professional such as Teachers Medical Doctors, Women, Youth Associations, Idirs, etc Associations and clubs shall produce

• Certificate of registration obtained from their respective organizing body:
• Rules and regulations of the associations, which bear the official stamp of the organizing authority and the association of club itself:
• Minutes of members’ resolution at the last general assembly appointing the executive committee duly sealed by the organizing authority:
• Minute of the executive committee and request letter by the chairperson to open and operate the account:
• Letter of request by the chairperson to open and operate the account:
• Valid and renewed I.D. Card of the authorized signatories.