REQUIREMENTS FOR DOCUMENTS FOR OPENING OF A CORPORATE BANK ACCOUNT IN FIBI

List of necessary documents

1) Account Opening Form, signed by authorized persons of the company or representatives of the company acting on the basis of the power of attorney (as stated in the legal opinion), plus specimen signature card, duly completed and signed.
In accordance with the directives of the Bank of Israel the abovementioned documents must be signed in the bank's branch, where the account will be served, or, if the company prefers to sign the documents overseas, in one of the following locations: FIBI Switzerland, FIBI London.
Please have in mind that applications signed in front of an Israeli Consul or a notary public, rather than before the bank's officer, will not be accepted.

2) Identification Documents
Each authorized signatory or a representative under a Power of Attorney must be personally identified by the bank to activate the account.

Outside the territory of Israel an Israeli diplomatic or consular representative can identify the documents or they can be certified by Apostille. In this case the identifier certifies photocopies of the originals. The following documents (in certified photocopies) must be submitted to the bank:
a. Passport,
and
b. One more identification document – a document bearing your photo and personal number; in absence of such document, it can be another document bearing name and personal number, as well as address and date of birth; in absence of the latter, it can be a credit card.

3) Documents of incorporation
Originals and updated incorporation documents of the company (certificate of incorporation, memorandum and articles of association, by-laws and others) or their copies, certified by the issuing authorities or a lawyer duly licensed to practice in Israel or a diplomatic or consular representative overseas or Apostille.

If any of the above-mentioned documents is not in Hebrew or English, a notarized translation of those is required.

4) A legal opinion of the Company's lawyer familiar with legislation of the country of registration of the Company. A legal opinion should be given on the letterhead of the institution of the lawyer or the law firm making the opinion.

The text of the opinion must be consistent with the form of the applied sample and adapted to the circumstances of each case. The lawyer should delete paragraphs of the form that are irrelevant or not applicable, and fill in the missing information, including details, identifying the beneficial owners of the company's assets and the "management" of the company, referred to in paragraphs 10-11 of the legal opinion form.

Clients should be aware that such detailed information is required by the Bank of Israel and obtained under Act on the Prohibition of Money Laundering 5761-2000.

5) In case of the account being operated by a person under a Power of Attorney, the original should be submitted to the bank. Photocopy of the Power of Attorney must be stored in the bank, being marked by the signing official as “examined against the original".

If the power of attorney was signed abroad, an Israeli consul, notary or Apostille should certify the signature(s).

If certified by a notary, an Israeli Consul or Apostille must also certify the signature of the notary.

6) If the company is registered in Israel as a Foreign Corporation under the Companies Ordinance, it should also provide the following documents:

a. Certificate of Incorporation from the Register of Companies in Jerusalem,
b. Updated extract from the Register.