How to open a bank account in Bank of Beirut

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

May, 2023

Last contact

May, 2024

Last update

October, 2023

founded in 1963 in Lebanon, represented in Oman since 2006;
the bank opens savings (deposit) and current accounts;
the bank only opens accounts for local companies registered in Oman, and personal accounts also only for residents of Oman;
to open an account for a foreign company will require the opening of a branch in Oman;
minimum account balance OMR 200* (~ USD 520);
for account opening personal visit of founders and signatory on the account in Oman is required;
main available currencies: OMR, USD, EUR, but first you need to open account in local currency;
they do NOT issue bank cards for corporate accounts;
pre-approval is possible before the account opening process;
transfer fee to foreign bank is ~ OMR 5* (~ USD 13);
Internet-banking in English;
account opening time: about 1-2 weeks

*Rates are approximate as they may eventually vary depending on the service program chosen by the client in the bank

GSL rating

Beginning of cooperation

May, 2023

Last contact

May, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

2006

History

Bank of Beirut was founded in 1963 as Realty Business Bank S.A.L., and in 1970 it changed its name to its present one. On April 9, 2006 Bank of Beirut received permission from the Central Bank of Oman to open a branch in the Sultanate of Oman. The first Omani branch opened on December 12, 2006 in Muscat

Personnel

There are English-speaking staff

Bank’s shareholders

Millet & Millet Inc - 8,26%; Nar Aram Khatchadourian - 7,54%; International Century Corporation Lebanon S.A.L - Holding - 5,35%; HPG Urban Developments PTY LTD - 5,00%; Sfeir Bancorp Limited - 4,68%; FSHN Limited - 4,65%; Solpro S.A.L. Holding - 4,51%; Merit S.A.L Holding - 4,38%; Rashid Bin Saad Bin Abdul Rahman Al Rashid - 4,10%

Confidentiality

AML legislation is strictly observed

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Minimum requirements

476

Minimum balance, €

No restrictions

Transactions permitted per month

476

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

Minimum account balance OMR 200 (~ USD 520)

Transactions permitted per month

No limit on the number of transfers

Initial deposit of funds, €

The initial payment is equal to the minimum balance of the account

Deadline for the initial deposit, month

Immediately after opening an account

Minimum turnover, €/year

No turnover limit

How fast payments are executed

Same day or next day

Tariffs and services

12

Outcoming transfer, €

0

Incoming transfer, €

N/A

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee to foreign bank is ~ OMR 5 (~ USD 13);

Incoming transfer, €

The bank does not charge for incoming payments

Distant access to the account

There is Internet banking in English

Financial products

Bank of Beirut - Oman offers customized services to financial institutions, corporations and individuals to ensure that their financial needs and goals are successfully met

Credit/debit cards

They do NOT issue bank cards for corporate accounts

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

For account opening personal visit of founders and signatory on the account in Oman is required

Required

For legal entity: Memorandum and Articles of Association; Company Registration; Account Opening Resolution indicating the signatory of the account; Chamber of Commerce Certificate; Municipality Activity License, Municipality Certificate; completed bank form for the company and owner; copies of current contracts with counterparties; office rental agreements, cash flow chart, ownership structure chart, etc.
On physical persons (directors / shareholders / beneficiaries / attorneys): proof of identity (passport) + Resident ID card; proof of address not older than 3 months; CV; bank references + bank statements for the last 6 months

Types of accounts

Savings; Current

Chances to open an account

Predictable

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