Notarial Requirements When Opening an Overseas Bank Account

A foreign bank sets its own document rules, from its customer-identification policy and its country's anti-money-laundering law. Many want notarised copies of identification and a notary to witness signatures on their forms. Some also want an apostille from DFAT. Others need neither, because they can verify you through a branch or online. Get the bank's list in writing first.

Key takeaways

• A bank is a private institution. It decides what it accepts, not a treaty or Australian law.
• Ask first whether the bank can verify you another way: an Australian branch, a video check or an approved certifier.
• Bring the bank's forms complete but unsigned. The notary must see each person sign.
• For a company account, the board resolution must match the mandate form, or the bank acts on neither.
• A notarised copy of a utility bill certifies the copy, not that you live at the address.
• An apostille is needed only if the bank asks. Only DFAT issues one.

Why does every bank ask for something different?

The apostille system exists so that public officials can rely on foreign signatures. A bank is not a public official. Its document requirements come from its own customer-identification policy and the anti-money-laundering rules of its country. So there is no standard foreign bank checklist.

That has consequences people often miss. Many banks do not ask for an apostille at all. Others ask for notarisation but not an apostille. Some need neither, because they can verify you another way. The first step costs nothing: get the bank's exact document list, in writing, and read which formalities it actually asks for.

When might you not need a notary at all?

Before booking anything, ask the bank three questions:

• Can you verify us here? Some banks have Australian branches, representative offices or correspondent arrangements that can sight identity documents directly.
• Do you offer remote verification? Many banks now verify identity by video or through an electronic process of their own.
• Who else may certify? Some banks accept certification by a lawyer, an accountant or another listed professional. For a private bank, that is its choice.

If the answer to any of these is yes, the notary and the DFAT step may be unnecessary. Say so to yourself before paying for either. If the bank's list names a notary, or an apostille, then plan on both.

What does a bank need for a personal account?

For a personal account, the bank is establishing two things: that you are who you say you are, and where you live. Typically it asks for:

• a certified copy of your passport, sometimes with a second photo document;
• proof of address, such as a recent utility bill or bank statement;
• the bank's application form and signature card, signed in front of a certifier;
• a tax self-certification form about where you are tax resident.

Migrants opening or reactivating an account in their home country face the same list. The bank may also want evidence of your status abroad, such as an Australian visa. Ask the bank how it wants that shown.

What does a bank need for a company account?

A company account adds a corporate layer. Whatever its checklist looks like, the bank is establishing four things:

1. The company exists, usually shown by its registration record, such as an ASIC extract.
2. Who owns and controls it, down to the individuals behind any holding company or trust.
3. Who may operate the account, and on what terms, shown by a board resolution.
4. Each of those people is who they say, shown by identification for each.

The first is an Australian public document. DFAT can legalise ASIC documents directly as originals. Our pages on company incorporation documents and board resolutions cover what a notary can certify about each. The individuals can be more people than expected, particularly where shares are held through another company. The bank sets the ownership threshold it looks at.

Why must the resolution match the mandate form?

The most common reason a foreign bank sends company documents back is a mismatch between the board resolution and the bank's mandate form. Suppose the resolution says two directors act jointly, and the mandate lists any one signatory. The bank now has two inconsistent instructions. It will act on neither.

So draft the resolution after you have the mandate form. Name the same signatories, with the same limits. Use the bank's own terms for joint and several authority where possible. If the bank offers a template resolution, use it. A notary can certify a copy of the resolution, or witness a director's signature on it, but cannot fix a mismatch the bank will reject.

How should you handle the bank's own forms?

Account opening usually involves the application or mandate form, signature cards and tax self-certification forms. Where the bank wants signatures witnessed or verified, the notary does that.

• Bring the forms unsigned. A notary cannot attest a signature made before the appointment.
• Complete everything except the signatures first. The notary will not fill in a bank's form, and a half-completed form means a second appointment.
• Tax self-certifications are yours. They ask about tax residence and classification. The notary witnesses the signature; the answers are for you and your accountant.

What wording does the bank want on the copies?

Banks often prescribe the words a certifier must use. A typical example is that the copy is a true copy of the original and the photograph is a true likeness of the person. Send that wording to the notary in advance. A notary will use it where it accurately describes what they did, and will tell you if it does not.

Proof of address needs care. A notary can certify a copy of a utility bill or bank statement. That certifies the copy, not that the person lives at the address. If the bank wants the address itself confirmed, ask what evidence it accepts. See our page on notarising a bank statement.

Item	Usual certifier	Apostille?
Passport copy	Notary, or the bank's listed certifier	Only if the bank asks
Proof of address	Notary certifies the copy	Only if the bank asks
Bank's own forms	Signed before the notary	Rarely
ASIC extract	None; DFAT can act directly	If the bank asks
Board resolution	Notary, copy or signature	If the bank asks

When is an apostille needed?

Only when the bank asks for one. Then the notary's certificates go to DFAT. DFAT issues an apostille for a Hague Apostille Convention member, or an authentication certificate for embassy legalisation for other countries. Check the HCCH status table on the day. A notary cannot issue an apostille. DFAT currently takes documents by appointment or by registered post; see its legalisation page.

Each separate document generally needs its own certificate. A company pack with several passports, a resolution and an extract adds up. Ask the bank whether it needs every item apostilled or only some. Ask the notary whether items can be bound into a single instrument that DFAT and the bank will treat as one document. Our apostille and authentication page explains the DFAT step.

Can a Justice of the Peace certify for a foreign bank?

Usually not. A Justice of the Peace is a free volunteer witness for Australian purposes. A JP's certification is not generally recognised abroad, and DFAT cannot apostille it. A few banks list a JP among acceptable certifiers, often for customers who already hold an account. If the bank's written list names a JP, a JP will do. If it names a notary, or says nothing, ask the bank. The bank is the receiving authority here, and its word settles it.

What if the forms are not in English?

You must understand what you sign. A notary may decline if you cannot show that you know what a form says. If the bank's forms are in a language you do not read, ask the bank for an English version. If it has none, get a translation before the appointment. Some banks also want the notary's certificate translated into their language. The bank decides whose translation it accepts, so ask before ordering one.

What about people who are not in Australia?

A notary in Australia can only act for people who attend. Directors, signatories or owners living elsewhere deal with their own evidence where they are, under local arrangements. Check that the bank accepts certificates from more than one country in one application. Some banks want every certificate in the same form, which can mean a notary in each country.

Here is an illustration, not a real case

A software company in Brisbane opens an account in Singapore for a new subsidiary. The bank's list asks for notarised passport copies of both directors and the resolution, with no apostille. The first draft resolution says "any director", but the mandate says "two directors jointly". The company redrafts it to match. Both directors sign the forms and the resolution before a notary with their passports. The ASIC extract goes as issued.

In short

A foreign bank sets its own rules. Ask first whether it can verify you without a notary. If not, bring its forms complete but unsigned, send the notary its wording, and make any resolution match the mandate. Add an apostille only if the bank asks. Our document notarisation page explains certified copies and witnessing.

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Opening an account abroad? Send us the bank's document list, and we will explain each step before you book.