For most foreign-owned companies, the corporate bank account is the last gate before real operations — and the stage where files most often stall. Saudi banks run thorough KYC on foreign shareholding structures, and the usual causes of delay are mundane: a name spelled differently across two documents, an unattested resolution, a general manager whose iqama is still in process. Our job is to make your file the one the bank approves without a second round of questions.
What's Included
- Bank shortlisting based on your transfer corridors (China, India, Pakistan, US, EU), fee appetite, and digital banking needs
- A complete document pack assembled and cross-checked for consistency before anything is submitted
- UBO (ultimate beneficial owner) mapping and the KYC questionnaire prepared in advance
- Introductions to relationship managers used to foreign-owned files
- Follow-up with the bank until the IBAN is issued and e-banking is live
- Guidance on the initial capital deposit and its documentation where your structure requires it
The Process
- Pack assembly. We collect, review, and align every document — this consistency check is where most future delays are prevented (3–5 business days once your CR documents are ready).
- Submission and introduction. Application filed with the shortlisted bank and your file introduced to a named relationship manager (about 1 week).
- Bank KYC review. The bank verifies shareholders, UBOs, and source of funds; we answer queries on your behalf (typically 2–6 weeks, varies by bank and structure complexity).
- Activation. IBAN issued, signatories registered, e-banking and user permissions configured (a few business days).
Documents You'll Need
- Commercial registration, MISA license, and articles of association
- National address certificate
- General manager's iqama and a Saudi mobile number registered in their name
- Shareholder structure chart down to the ultimate beneficial owners, with supporting corporate documents
- Board resolution naming authorized signatories
If you are planning your setup, talk to us before the formation is finished: sequencing the GM's iqama and the bank pack in parallel is the single biggest time-saver. We stay bank-agnostic — we take no commission from any bank, so the shortlist reflects your interests only — and after opening we help configure user roles and payment approval workflows in the e-banking portal. The consultation is free.