Terabank has played an important role in the banking sector of Georgia for over 17 years. The bank appeared on the market in 1999 under the name «Georgian Agro Business Bank». In 2005, it changed its name to «Standard Bank».
In 2007, a DHABI group based in the UAE invested in Georgia and received a license for «Kor Bank Georgia», which in 2008 merged with «Standard Bank». Consequently the bank «Kor Standard Bank» (KSB Bank) was formed.
Since the May 2016 the bank has been using a new business strategy and style of communication, working in a new field-specific spheres, and under a new name – Terabank.
OPEN AN ACCOUNT IN TERABANK GEORGIA
For natural persons and legal entities – 35 USD.
The bank opens accounts for any companies, incl. those that are registered in classic offshore jurisdictions.
The bank has no representative offices.
With the means of Internet-banking.
Account maintenance for natural persons and legal entities – 25 USD per year.
Please proceed to the bank's website to find tariffs for payments and other banking services.
The process of opening an account begin with the preliminary stage, which includes gathering and providing us with the documents needed for account opening. The term of preparatory stage depend on you.
The stage of review of the documents by bank and making a decision regarding opening an account takes from 5 to 10 business days since the documents have been delivered to the bank. The opening of the account itself takes place within 1-2 business days from the moment of submitting originals of all the necessary documents to the bank's main office.
Terabank follows KYC policy and reserves the right to require additional information or documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.
Russian/English speaking.
Visa.
Deposits, trade financing, safe deposit box.
Forms for signing are given in our office upon personal meeting.
Company’s documents:
- Certificate of Incorporation affixed with apostille*;
- Memorandum and Article of Association affixed with apostille*;
- Minutes of first director designation affixed with apostille*;
- special Power of attorney for opening an account under apostille (apostille shall be no older than 6 months). The draft of Power of attorney will be provided by us.
- Certificate of Good Standing affixed with apostille, if the company is older than 6 months at the time of account opening (apostille shall be no older than 6 months);
- Certificate of Incumbency affixed with apostille, if the company is older than 6 months at the time of account opening (apostille shall be no older than 6 months);
- copies of several contracts with suppliers and buyers;
- bank statements from the other banks where the accounts are opened.
*These documents may be apostilled in one set (for English companies a certification by a solicitor is accepted). Apostille on the documents shall be no older than 6 months.
Documents for the account holder:
- original of national passport;
- original of foreign passport;
- notarized translation of the national passport into English;
- notarized of foreign passport;
- signature sample certified by a notary.
Documents for the beneficiary:
- original of national passport;
- original of foreign passport;
- notarized translation of the national passport into English;
- notarized of foreign passport.
Documents on nominees – individuals:
- copy of passport under apostille (apostille shall be no older than 6 months).
Documents on nominees – legal entities:
- copies of all statutory documents under apostille (apostille shall be no older than 6 months);
- Certificate of Good Standing affixed with apostille no older than 6 months;
- Certificate of Incumbency affixed with apostille no older than 6 months.
To open an account, a personal visit to the head office of the bank in Georgia is not required. It is sufficient to visit our office in order to fill out the questionnaire, sign the banking forms and provide the originals of the documents mentioned above. Banking forms together with originals and copies of documents on the company, attorney, beneficiary and nominees are sent to the main office of the bank. Once the account is opened, the documents are returned.
For further consultation concerning the terms of account opening in Terrabank GE (Georgia) please contact our office. We will respond to any questions you may have and will help you open an account in Georgian JSC Terabank or any other bank out of 70 foreign banks you may choose from.
