How to open a bank account in Incognito Bank (Qatar) 001

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

May, 2023

Last contact

April, 2024

Last update

October, 2023

the bank has been operating in Qatar since 2019, a small bank focused on high net worth customers;
the bank opens savings (deposit) and current accounts;
the bank opens accounts NOT only for local Qatari companies, but also for foreign companies registered in the UAE, Hong Kong, as well as personal accounts;
in order to open a corporate account the following criteria have to be documented: The company itself or holding / subsidiary meets the following: Within the last 2 years the declared share capital or net worth of at least QAR 18 000 000 (~ USD 5 000 000) OR annual net turnover of at least QAR 30 000 000 (~ USD 8 200 000);
opening an account is possible remotely, WITHOUT a visit to Qatar;
main currencies available: QAR, USD, RUB;
it is possible to issue bank cards and checkbooks;
pre-approval is possible before the account opening process;
transfer fee to a foreign bank is 0,3%* (min USD 50 – max USD 750); commission for account opening – from USD 200;
Internet Banking in English;
time of account opening: about 1-2 weeks

*The rates shown are approximate as they may eventually vary depending on the client’s chosen service program at the bank

GSL rating

Beginning of cooperation

May, 2023

Last contact

April, 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

2019

History

Founded in 2019

Personnel

There are English-speaking staff

Bank’s shareholders

The main shareholder of the bank is an investment fund registered in the BVI

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

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Minimum requirements

0

Minimum balance, €

No restrictions

Transactions permitted per month

0

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

No minimum account balance requirements

Transactions permitted per month

No limit on the number of transfers

Deadline for the initial deposit, month

No down payment requirements

Minimum turnover, €/year

No turnover limit

How fast payments are executed

Same day or next day

Tariffs and services

150

Outcoming transfer, €

0

Incoming transfer, €

N/A

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Fee for transfer to a foreign bank is 0,3% (min USD 50 - max USD 750)

Incoming transfer, €

The bank does not charge for crediting

Account maintenance, €/year

Commission for account opening - from USD 200

Distant access to the account

Internet Banking in English

Financial products

Headquartered in Doha, the bank offers a range of banking products and services to international corporate clients as well as high-net-worth individuals, helping them achieve their short- and long-term financial goals

Credit/debit cards

It is possible to issue bank cards and checkbooks

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

Opening an account is possible remotely, WITHOUT a visit to Qatar;

Required

At legal (the set of documents differs depending on the country of registration of the legal entity): Certificate of Incorporation (Certificate of Incorporation); Charter and Memorandum of Association (Memorandum and Articles of Association); Certificate of employment with the current structure, if the company is older than 1 year (Certificate of Incumbency); Decision on the appointment (Resolution of Director's Appointment); Decision on issue of shares (Resolution of Issue of Shares); Share Certificates.
If there is a corporate director / shareholder / secretary in the structure, it is necessary to provide a complete set of documents according to the list above: completed questionnaires in the form of a bank for the company and owner; copies of current contracts with counterparties, company reporting; office lease agreements, cash flow chart, ownership structure chart, etc.
At the physical person (director / shareholder / beneficiaries / attorneys): proof of identity (passport); proof of address not older than 3 months; Summary; bank recommendation + bank statements for the last 6 months. and other documents confirming the source of income for the last 10 years

Types of accounts

Savings; Current

Opening procedure and Due Diligence

It is possible to open an account without visiting the country where the bank is located

Chances to open an account

Predictable

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