FOREIGN CURRENCIES ACCOUNT OPENING (CURRENT)

Product Features

Two types of Current Account can be opened as below:

  • Company
  • Association

Eligible currencies for account creation

  • USDollar (USD)
  • Euro Dollar (EUR)
  • Singapore Dollar (SGD)

Initial Deposit

  • 100 (USD,EUR,SGD)

Minimum Balance

  • 20 (USD,EUR,SGD) for company account

Cash Deposit Charges

  • 1% on Deposit Amount

Cash Withdraw Charges

  • 1 (USD,EUR,SGD)
  • As per guidance of the Central Bank of Myanmar, withdrawal can be made twice a week with the maximum amount of USD-5000 for each time.

Bank Statements

  • Bank Statement, Balance Certificate, Balance Confirmation and Account Verification can be available upon the customer’s request.

Account Close Charges

  • 10 (USD,EUR,SGD) for company account

Required Documents

Company

  • Application Form with Company Letter Head
  • Company Registration Form
  • Certificate or Exporter/ Importer Registration
  • Memorandum of Association
  • Articles of Association
  • Form VI (shareholder list)
  • Form XXVI (List of Board of Directors)
  • Form E (shareholder ratio)
  • Board of Directors’ Meeting Minute
  • Foreign Exchange Declaration Form
  • Source of Income (Relevant Documents)
  • Passport (or) NRC Copy
  • Initial Deposit
  • Two Recent Photos (For each person)

Association

  • Application Form
  • Certificate of Registration of Societies
  • Passport (or) NRC Copy
  • Executive Member’s Meeting Minute
  • List of Executive Members
  • Source of Income (Relevant Documents)
  • Initial Deposit
  • Two Recent Photos (For each person)