How to open a bank account in Qatar National Bank (QNB)

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

QNB was founded in 1964, the largest bank in Qatar;
the bank opens savings (deposit) and current accounts;
the bank only opens accounts for local companies registered in Qatar, as well as personal accounts also only for residents of Qatar;
to open an account for a foreign company, you will need to open a branch in Qatar;
to open a corporate account needs a deposit of QAR 30 000* (~ USD 8 250) for 1 month; for personal – from QAR 10 000 (~ USD 2 750);
personal visit of the founders and the account signatory in Qatar is required to open the account;
the main available currencies: QAR, USD;
it is possible to issue bank cards and checkbooks;
pre-approval is possible before the account opening process;
fee for transfer to foreign bank is ~ QAR 50* (~ USD 14);
Internet Bank in English;
account opening time: about 1-2 weeks

*The rates shown 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

April, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

1

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1964

History

Qatar National Bank (QNB) was founded in 1964 as the country's first commercial bank owned by Qataris. The bank operates in Europe, Asia, the Middle East and Africa. QNB is headquartered in Doha, Qatar

Personnel

There are English-speaking staff

Bank’s shareholders

An ownership structure split between the Qatar Investment Authority (50%) and the remaining (50%) available to be held by members of the public

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

7 650

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

No minimum account balance requirement

Transactions permitted per month

No restrictions on the number of transfers for current accounts

Initial deposit of funds, €

To open a corporate account you need to make a deposit of QAR 30 000 (~ USD 8 250) for 1 month. To open a personal account - deposit from QAR 10 000 (~ USD 2 750)

Deadline for the initial deposit, month

1 month

Minimum turnover, €/year

No minimum turnover limit

How fast payments are executed

Same day or next day

Tariffs and services

13

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 ~ QAR 50 (~ USD 14)

Incoming transfer, €

The bank does not charge for incoming payments

Distant access to the account

Internet Banking in English

Financial products

The bank is a provider of personal banking services, asset management services and business banking solutions.
Personal banking includes accounts, fixed deposits, loans, life insurance, etc.
Asset management includes wealth management solutions, funds, portfolio management and debt funds.
Business banking includes cards, brokerage, financing, overdrafts, trade finance and global cash management

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

To open an account, a personal visit of the founders and the account signatory to Qatar is required

Required

For legal entities: Trade License; Memorandum and Articles of Association; Company Registration; Request for account opening indicating the account signatory; Tax Card, Computer Card; Registration Certificate (QFC), Commercial Registration Extract (QFC); completed bank form for the company and owner; copies of current contracts with counterparties; office rental contracts, cash flow chart, ownership structure chart, etc.
. For private person (directors / shareholders / beneficiaries / attorneys): Confirmation of identity (passport) + QID; Confirmation of address (Metrash) not older than 3 months; Resume; Bank reference + bank statements for the last 6 months

Types of accounts

Savings; Current

Chances to open an account

Predictable

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