Account Services 

(1) Account Type: Current Account & Time Deposit Account.

(2) Account Currency: MMK, CNY, USD, SGD, EUR.

(3) Operation flow:

    Prepare account opening documents, in accordance with the account opening list requirement from ICBC Yangon Branch. Submitting the application forms and account opening documents. Account opening and account information feedback will be given on 2-3 weeks.

(4) Online Banking: Corporate online banking support balance inquiry, internal account transfer,local and oversea remittance, foreign currency exchange, bank account reconciliation, we provide for online banking along with a new account opening.

(5) Charges: USD account opening fee is 50 USD, MMK account opening fee is 50,000 MMK, EUR account opening fee is 50.00 USD , SGD account opening fee is 50.00 USD, CNY account opening fee is 200.00 CNY; Online banking opening is free of charge, ICBC password token charge is free of charge.

(6) Account Maintenance Fees: USD account 5 USD per month, MMK account 5,000 MMK per month, EUR account 5.00 EUR per month, SGD account 5.00 SGD per month, CNY account 30.00 CNY per month.

(7) The followings are the list for business account opening:

1.Company Account:

(1) Company registration license; (required)

(2) Written certification of the company's legal business scope; (if any)

(3) Memorandum of Organization (Articles of Association); (must be provided)

(4) Provide the information list in "Myanmar Company Online" of the account opening entity (required), including: Filing History, Address, Officers, Officer Details, Shareholdings, Company Authority, Members, Member Details, document,  Company Extract, etc. The information listed on the DICA official website shall prevail;

(5) Permit issued by Myanmar Investment Commission (MIC); (If any)

(6) Export and import license;  (if any, the import and export trading company needs to apply for it)

(7) The resolution of the company's board of directors and the identity certificates of relevant personnel; (must be provided, please refer to our bank’s template for board resolution recommendations)

(8) Reserved specimen card; (in duplicate, must be provided)

(9) Account opening application form and FATCA questionnaire; (must be provided)

(10) Company information survey form. (must be provided)

2.Branches or representative office:

(1) Registration document; (must be provided)

(2) Articles of association or memorandum of organization of the headquarters; (original and Myanmar).

(3) Letter of authorization from the headquarters authorizing the branch general manager (or chief representative of the representative office); (must be provided)

(4) Provide the information list in "Myanmar Company Online" of the account opening entity (must be provided), including: Filing History, Address, Officers, Officer Details, documents, Company Extract, etc. The information listed on the DICA official website shall prevail;

(5) Account opening application form which was signed by the general manager of the branch (or chief representative of the representative office); (must be provided)

(6) Identity document of the branch general manager (or chief representative of the representative office), company directors, reserved specimen signatories, and authorized account holder; (must be provided).

(7) Reserved specimen card; (in duplicate, must be provided).

(8) Account opening application form and FATCA questionnaire, Company information survey form. (must be provided).

3.Non government organization (NGO):

(1) Registration document; (must be provided)

(2) Address information of NGO headquarters and agencies in Myanmar; (must be provided).

(3) Vaild document such as business license, organizational memorandum or articles of association of the the supervision unit; (must be provided)

(4) Name and address information of NGO directors/senior management members; (must be provided)

(5) Account opening resolution approved by the NGO management members; (must be provided)

(6) Identity document of NGO directors/senior managements; (must be provided)

(7) Reserved specimen card; (in duplicate, must be provided)

(8) Account opening application form, FATCA questionnaire, Company information survey form. (must be provided)

Note:

1. All account opening may need to provide:

- Taxpayer Registration (PaTaKha(KaThaKha) Form-2);

- Financial Statement;

- Company License and Shareholding structure of the shareholders which own 20%shares or above. 

2. All the documents must be prepared in english, non-english version should be provide the version of translated in english.