1. DOCUMENTS REQUIRED TO OPEN AN ACCOUNT
1.1 Certificate of Incorporation or Certificate of Organisation issued by Register
Document shall include the following information :
- name of legal entity
- registration number
- date of registration
- name and address of Register
- signature of Registers manager
1.2 Articles of Association or Memorandum of Association, By Laws, Operating Agreement, Articles of Association
Document shall include the following information :
- name of the legal entity
- address
- main activity ( if its not stated by the document, it should be asked by teller)
- list of subscribers
1.3 Documents confirming the right for representation
Right for representation can be confirmed by the following documents:
- Memorandum of association
- Articles of Association
- Minutes of the First Meeting of the Board of Directors or Resolution of the Board of Directors
- Power of Attorney
- Extract from Register confirming the right for representation
Document shall include the following:
- Information on principal/authorizer ( name and address of an authorised organisation, the first and last name of the authorised person, ID code or date of birth, residence place )
- Information on representative ( the first and last name, ID code or date of birth, number of passport, residence place )
- Date of issue
- Validity
Power of Attorney shall include the following:
- Validity
- Scope of authority
- Right for the assignment, if it is stipulated ( validity and scope of authority should not exceed validity and scope of authority stipulated in the main Power of Attorney )
- Power of Attorney or other similar document has to be certified by notary public or legally certified.
1.4 Document confirming the ownership for the legal entity
- Articles of Association or Memorandum of Association defining subscribers
- Document confirming ownership conveyance to the new owners
( agreement, letter on assignment/conveyance of the right or other similar document )
1.5 Document defining management and executives for the legal entity ( managing board, executive director )
Initial resolution on appointment of the managing board/directors (Statement of Incorporator, Initial Resolution of the Members, Shareholder Declaration, Certificate, etc.)
The document shall provide information on directors ( the first and last name, ID code or date of birth, residence place )
1.6 Document defining appointment of the agent for the legal entity
This is the document confirming appointment of the agent, when right for representation and operation is given to the agent in the country where the legal entity is located ( Operating Agreement, Certificate, etc). The document shall include the information on the agent ( first and last name, ID code or date of birth, residence place)
1.7 Certificate of Goodstanding confirming settlement of annual fee
1.8 Documents of assignment/conveyance of rights
Power of Attorney or any other document confirming conveyance of ownership from subscribers to new owners.
Document shall include information on both parties of the deal ( the first and last name, ID code or date of birth, passport number, residence place )
1.9 Other documents
If abovementioned documents or information are unavailable, or when in the country where the legal entity is registered these documents are issued in the form different from the one required by the bank, then in order to identify the legal entity the bank has the right to ask for other documents or their copies certified by notary public.
2. FORM OF THE DOCUMENTS TO BE SUBMITTED
All documents to be submitted to the bank shall be as follows :
1. Originals or certified by notary, or other equivalent certified copies
2. Certified by the person or organization equivalent to the notary in the country of residence
3. Legalised or provided with apostil
In cases specified in items 1 and 2, all documents to be submitted to the bank have to state that both parties of the deal were clear in their intentions.
The documents consisting of several pages have to be stapled together in the way it is not possible to separate them without any trace. Signature/stamp confirming that document is correct have to be on the last page of the document.
3. LANGUAGE OF DOCUMENTS
In case the documents are presented in foreign language, the bank has the right to ask for their translation into Estonian or any other language accepted by the bank. The translation has to be certified by notary or authorised translator.
4. VALIDITY OF DOCUMENTS
4.1 All documents confirming the right of representation and presented to the bank in order to open an account are to have the term of validity not exceeding 30 days.
4.2 The certificate for settlement of the annual fee ( Certificate of Goodstanding ) issued to be presented to the bank is to be valid within 1 year since the date of issue.
4.3 The bank has the right not to accept the certificates issued by the Register of Commerce with validity exceeding 1 year.
5. EXCEPTIONAL CASES
5.1 The bank has the right to restrict services provided for business organizations from some regions ( for example, some electronic services )
5.2 The bank has the right to define the list of states, where company was established, and apply non-commital principle when signing the agreement for opening the account.
5.3 The bank has the right to introduce additional requests or restrictions for non-resident legal entities
5.4 When signing the contract for opening the account, the card with signature samples is to be filled in.
5.5 In case the account has restrictions in use under special conditions, separate instructions are to be applied for each account of such legal entity.
5.6 If person willing to open an account with the bank is a citizen of a distant and/or little-known state/region, or due to the short period of time it is impossible to study all documents in English carefully, at first the bank is to receipt all documents presented by the clients representative, in spite of their absence on the list in the bank internal regulations.
5.7 The internal regulations of the bank desctribe the verification order for documents presented by a legal entity residented in off-shore zones
6. ADDITIONAL RESTRICTIONS
Bank has the right to refuse the contract for opening an account or terminate valid bank account contract with legal entity in case of :
6.1 If legal entity is a business organization with corporate shares issued to bearers residenting outside the European Union ( EU ).
6.2 Legal entity is registered along with other legal entity
6.3 Legal entity failed to submit to the bank all required documents listed in the present instruction.
6.4 Legal entity submitted documents, which do not contain the information requested in the present instruction.
6.5 Legal entity submitted documents, which are not in line with stipulated in the present instruction.
6.6 Legal entity submitted expired documents.
6.7 Legal entity submitted documents with an evidence of falsification (missing pages, marks of deleting and correction, etc.)
The present document is a translation from the original in Estonian.