Business Account Opening Requirements

 

  • Certificate of Incorporation
  • Memorandum and Articles of Association or Articles of Incorporation
  • Taxpayer Registration Number for the company
  • Valid picture identification for each signer (e.g. Driver's Licence, National ID or Passport)
  • Taxpayer Registration Number for each signer
  • Proof of address for each signer (e.g. Utility bill or Post marked envelope no more than 6 months old)
  • Two references for each signer (if signers do not have accounts with NCB). You may choose any two of the following: NCB customer (For at least 3 years or more); NCB Manager; Minister of Religion; Justice of the Peace (Seal to be affixed); another bank's manager.
  • Audited financial statements of the business (or in-house financial statements for companies which have been incorporated for less than eighteen (18) months or accounts prepared by a person who is duly registered as a public accountant for companies with annual turnover of less than $40M – listing can be found at www.pab.gov.jm).
  • Current Certificate of Registration under the Registration of Business Names Act (where applicable).
  • Previous bank references (where applicable)
  • Description of customer's principal line of business and major suppliers (if applicable)
  • List of names, addresses and nationalities of principal owners (shareholders who own or control through direct or indirect ownership 10% or more of the voting rights in the company), directors, beneficiaries and management officers.
  • Tax Compliance Certificate (TCC) or other equivalent official confirmation from the relevant tax authorities of compliance with income tax obligations.
  •  
  • Group/corporate structure indicating ultimate beneficial ownership (where applicable)
  • Address and location of business operations
  • Address of registered office (if different from above) and any previous address(es) of registered office
  • Source of funds/source of wealth
  • Dollar value of anticipated monthly turnover
  • Purpose of account
  • Name and address of any other person(s) with a beneficial interest in the account (i.e. are funds being held, whether in whole or in part, for any other individual or entity)
  • Name and identification details, as for personal accounts of any agent likely to be conducting business on the account
  • Information and documentation for beneficial owner(s) and shareholders/partner (owning 10% of more of the company) as follows:
    • If existing customers: identification and TRN as for personal accounts
    • If not existing customers: identification, TRN and references (2) as for personal accounts.
  • Information and documentation for all directors: name, address, identification and TRN
  • Letter of introduction from the company stating name, date of birth, present and previous addresses for all signing officers.

 

 

  • Certificate of Registration
  • Partnership Deed (or other instrument in writing which is duly signed by the partners and which confirms the fact of the establishment of the partnership)
  • Purpose of account and intended nature of the business relationship
  • Valid picture identification for each signer (e.g. Driver's Licence, National ID or Passport)
  • Taxpayer Registration Number for each signer
  • Proof of address for each signer (e.g. Utility bill or Post marked envelope no more than 6 months old)
  • Two references for each signer (if signers do not have accounts with NCB). You may choose any 2 of the following: NCB Customer (For at least 3 years or more); NCB Manager; Minister of Religion; Justice of the Peace (seal to be affixed); another bank's manager
  • Audited financial statements of the business (or in-house financial statements [twelve months cash flow projection/opening balance sheet] for partnerships in operation for less than eighteen (18) months or accounts prepared by a person who is duly registered as a public accountant for partnerships which satisfies at least two of the following criteria [annual turnover of less than $40M, balance sheet assets totals less than $30M, employs less than 25 persons] – listing can be found at www.pab.gov.jm).
  • Tax Compliance Certificate (TCC) or other equivalent official confirmation from the relevant tax authorities of compliance with income tax obligations.

 

 

  • Certificate of Registration
  • Purpose of the account and intended nature of the business
  • Valid picture identification for owner (e.g. Driver's Licence, National ID or Passport)
  • Taxpayer Registration Number for owner
  • Proof of address for owner (e.g. utility bill or post marked envelope no more than 6 months old)
  • Taxpayer Registration Number for each signer
  • Two references for owner (if owner does not have an account with NCB). You may choose from any 2 of the following: NCB customer (for at least 3 years or more); NCB Manager; Minister of Religion; Justice of the Peace (seal to be affixed); another bank's manager.
  • Audited financial statements of the business (or in-house financial statements [twelve months cash flow projection/opening balance sheet] for businesses registered or unregistered and in operation for less than eighteen (18) months or accounts prepared by a person who is duly registered as a public accountant for businesses with annual turnover of less than $150M – listing can be found at www.pab.gov.jm).
  • Tax Compliance Certificate (TCC) or other equivalent official confirmation from the relevant tax authorities of compliance with income tax obligations.