Silk Road Bank AD Skopje

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WE HELP INTERNATIONAL COMPANIES TO OPEN A BANK ACCOUNT IN SILK ROAD BANK AD SKOPJE, MACEDONIA

SILK ROAD BANK AD SKOPJE

Silk Road Bank AD Skopje was founded in April 1993 as one of the first private banks in Macedonia under the initial name of Kreditna Banka AD Skopje.

In 2000, the Greek Alpha Bank A.E. became the main shareholder and the bank changed its name to Alpha Bank AD Skopje. In May 2016, SILK ROAD CAPITAL AG, Switzerland (a company owned by Swiss private investors) bought Alpha Bank AD Skopje, after which the bank changed its name to Silk Road Bank. The head office of Silk Road Bank AD Skopje is located in the capital of Macedonia, Skopje. The bank has 15 branches in Macedonia and employs about 164 employees.

Opportunities

We offer you the unique opportunities for banking services of international companies

Open a bank account for an offshore company

Open a bank account for LP companies and classical offshore jurisdictions

Remote account opening

Opportunity to open a bank account remotely without visiting the bank by the beneficiary of the company.

Pre-approval process takes up to 5 days

We get a firm preliminary decision of the bank to open an account for your company during 5 working days.

We help to open an account within 5 working days

After the submission of the full package of documents, the account is normally opened within 1 week.

We can help to open an account for clients from Latvian ABLV

We can open an account for your company, which was previously servised in the Latvian bank ABLV and which needs a new account to receive a refund according to the state deposit insurance system of Latvia from Citadele bank.

Opening an account for European jurisdictions

Silk Road Bank AD Skopje can open a bank account for European jurisdictions, as well as Hong Kong, UK LTD, Switzerland and other countries (except companies of CIS countries).

Corporate cards

Silk Road Bank AD Skopje issues corporate cards, including ones for international clients.

The most reliable correspondent banks

The main correspondent bank of Silk Road Bank AD Skopje is the Deutsche Bank

PRICES FOR OPENING THE BANK ACCOUNT IN MACEDONIA

Opening of a current account for the company

1100 €

Apostillation of documents (per one document)

290 €

Opening of an account for a business owner in Macedonia

350 €

Please note that the commission of the bank for opening an account is 200 Euro per one currency. This cost is an additional expense for opening an account

200 €

FEES OF THE BANK

THE LATEST FINANCIAL REPORT

LIST OF DOCUMENTS FOR OPENING ACCOUNTS AND LIMITATIONS

LIST OF REQUIRED DOCUMENTS FOR OPENING AN ACCOUNT FROM NON-RESIDENT LEGAL ENTITY

Documentation (original or notarized copy1) for the legal status of the legal entity:
-  Document for founding the legal entity or
-  Document for partnership or
-  Document for association (Memorandum and Articles of Association/Statute) or
-  Work permit.
Original or notarized copy of the extract from the trade/court registry where the legal entity has been registered in the domicile country issued in the previous 3 months, which confirms that the legal entity works and is not under liquidation1. The document should contain the following data:
- - date of company establishment,
- - name of the company,
- - tax number - If the Trade/Court Registration do not contain description of the
  
  companies’ tax number than Document proving the tax number of the legal entity
  
  (certificate from competent authority) is mandatory
- - permanent address, head office,
- - the main activity - If the Trade/Court Registration do not contain description of the
  
  companies’ main activity than document comprising confirmation and/or description
  
  of the main activity of the legal entity is mandatory
- - the capital of the company,
- - owners, legal representatives, Board of directors and representatives.
  The statement cannot be dated older than 3 months and should be submitted to the Bank ones per year.
Passport of the persons - legal representatives of the foreign company – stated as owners on the registration2
Written authorization3 signed by the legal representative of the persons authorized to operate with the account.
Data of the management body and the representatives authorized to arrange business relations on behalf of the entity.
Financial Reports - if necessary, based on risk assessment (upon Bank’s additional notification)

+ Application for identification/update of legal entity
+ Application for identification/update of physical person – for legal representative or authorized person on the account

The process of opening of account will finish with conclusion and signing of Account opening Contract.

In case the documents for account opening are in language different than English, then the customer will be charged for the translation of these documents.

*Please note that based on Bank’s assessment and client’s data documentation, the Bank could request additional supporting documents during the business relation with the customer.

P.S.

1 The original documentation will be submitted in original on review, and the Bank’s representative will keep a true copy of the documents in the client’s file.
2 True copy of the passport will be kept in case of physical presence. In case when the client is not physically present in the Bank, then a notarized copy of the passport is required to be submitted.

3 Written authorization through completion of Application for persons authorized to dispose with assets on the account of legal entity in case of physical presence. In case when the legal representative is not physically present in the Bank, then the template for power of attorney should be completed and notarized.

SILK ROAD BANK AD SKOPJE does not consider the following companies to open an account

Silk Road Bank AD Skopje has a passive bank client for international payments, which means that using the Internet bank is limited only by viewing your account balance. Payment orders are sent to the bank by e-mail from authorized e-mail and can be confirmed by phone;
Silk Road Bank AD Skopje does not accept or send payments to Russian banks and banks from CIS countries;
Silk Road Bank AD Skopje do not work with companies that carry out a transit activity, those companies whose revenue is equal to the amount of outgoing payments. The bank believes that in normal business, 10% or more (depending on the type of activity) should remain on the company's account;
The deposit insurance system in Macedonia extends only to individuals and amounts to EUR 30,000. The deposit insurance system does not protect legal entities;
Silk Road Bank AD Skopje mostly aims to work in the domestic market and does not have a department for working with international clients, which may impose restrictions on the volume of clients accepted and the efficiency of work;
Silk Road Bank AD Skopje does not consider clients, with the following activities: gambling, dating, arms trade, nuclear energy, trade in medical products (namely bads, etc .., traditional medicine is considered), crypto business, pornography.

The procedure for the opening of a bank account in Silk Road Bank AD Skopje, Macedonia

The following information and documents have to be sent to the e-mail address konon@vitaliberta.com:

Please, describe the main line of business of the company (what services it provides or what products it sells, what geography of presence and geography of interaction, business plan of the company, if any);
Please describe a typical sales or manufacturing or service process (the main generator of sales or revenue) of your company and indicate who your main suppliers and main customers are (specify the name, country and percentage in% in your company's incoming / outgoing turnover);
Sales for the last two years, as well as planned sales over the next two years (Income from sales in euros for the last 2 years / Planned sales in euros for the next 2 years);
Is the company part of a group of companies? What link does the company occupy in the group?;
Does the company own commercial premises?;
Does the company use its own staff? Please indicate the number of staff;
Which of the business processes does the company: trade, services, manufacturing business or other?;
Does the company act as a financial intermediary?;
Is it possible to sell assets on behalf of third parties?;
What kind of investment does the company have?;
Planned monthly turnover for incoming and outgoing payments;
Main and planned partners for incoming and outgoing payments;
Maximum amount of one payment;
Describe the origin of the assets deposited in the bank;
Detailed CV of the beneficiary.

Preparation of motivated statement for the bank

If the provided information is sufficient, we analyze this information and prepare a motivated statement for the bank regarding your company.
If the information provided is insufficient or there is a need to request additional information, we request it from you.

Receiving a preliminary acceptance from the bank

Upon receipt of the positive decision of the bank to open an account, we inform you of the necessary actions with regard to corporate documents of the company in order to bring them in line with the requirements of the bank.

Payment of legal services related to the preparation of the company for opening an account

After receiving a positive decision of the bank and after the client has firmly decided to bring the process to its logical conclusion, ie. before opening an account, we issue you an invoice for the payment of our services.

Preparation of bank forms

After receiving full payment, we proceed to prepare the bank forms and on the basis of the information received from you we fill them in the way the bank requires.

Personal visit of the bank by the UBO

In order to open a bank account, the beneficiary of the company or our authorized representative representing the beneficiary must visit the bank pesonally.

WE ARE PROFESSIONALS AND WE TAKE CARE FOR OPENING A BANK ACCOUNT OF YOUR COMPANY

General partner of the company
Vita Liberta Limited
Konon Sergey

Professional experience

2005-2012: OJSC “Promsvyazbank” Cyprus branch, from bottom position to the Head of business development department (responsible for cooperation with corporate clients).
2012-2016: Bank of Asia, Russia, Vice President of international Business (responsible for the development of two departments: international correspondent banking department and international corporate clients’ department).
2016 - present - founder and General partner of Vita Limirta Limited company.

Excerpt from the speech of Mr. Konon Sergey at the IV-th annual conference "Practice of international tax planning. Actual issues ", 2011.

Brief economic profile of Macedonia

Since independence in 1991, Macedonia has made progress in liberalizing its economy and improving the business environment. Low tax rates and free economic zones helped attract foreign investment, which is still not high compared to the rest of Europe.

Macedonia focuses on its foreign policy goal of European and Euro-Atlantic integration. Full participation in the EU single market is a key priority when it comes to international and regional economic agreements. Although the country has made some progress in this regard, integration has been complicated since 2009 due to a dispute with Greece regarding the name of the country. The Stabilization and Association Agreement (SAA) between Macedonia and the EU entered into force in April 2004. The objectives of this agreement, among other things, were to promote the development of economic relations and gradually develop free trade between Macedonia and the EU. In December 2005, the European Council granted Macedonia the status of a candidate country for membership in the EU. In October 2009, the Commission recommended that the Council begin negotiations with Macedonia for the first time and moved to the second phase of the implementation of the SAA agreement. These recommendations were repeated every year since 2010. Since the two countries recently signed a dispute on the name of a country with a very strict timetable, which must be completed within one year, Macedonia received a provisional date to begin negotiations on EU membership in June 2019, provided that the country changes its name to the Republic Northern Macedonia and pay more attention to the agenda of reforms.

At the same time, the EU continues to support Macedonia through its financial assistance in the framework of the Instruments for the Promotion of Accession to the European Union. The IPA II program for the period from 2014 to 2020 provides funding of 664 million Euros for programs in the 8 priority sectors relevant to the functioning of the Macedonian economy, namely: democracy and governance, the rule of law and law, the environment and climatic conditions , transport, competitiveness and innovation, social development (education, employment, social security), agriculture and rural development, and regional and territorial cooperation.

Although full participation in the EU single market is a key priority for Macedonia, the country also concluded trade agreements with a number of other countries, including. free trade agreements with Ukraine, Turkey and the European Free Trade Association (EFTA - Switzerland, Norway, Iceland and Liechtenstein). In January 2007, previously concluded bilateral agreements with Albania, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo and Moldova were replaced by members of the Central European Free Trade Agreement (CEFTA). Macedonia has been a member of the World Trade Organization (WTO) since 2003.

Despite membership in the CEFTA, regional economic trade is far from effective integration. There are non-transparent customs barriers to trade between CEFTA members, such as complex procedures at border crossings due to inspection work, as well as technical barriers such as sanitary and phytosanitary measures and veterinary control. Despite the general market of government purchases among the CEFTA countries, there is still a lack of transparency in public procurement. In the field of investment, Macedonia has concluded agreements on the promotion and protection of direct investment with 32 countries: Albania, Austria, Bosnia and Herzegovina, Bulgaria, Belarus, Belgium, Luxembourg, Germany, Egypt, Iran, Italy, India, Spain, Serbia, Montenegro, People's Republic of China Republic of Korea, Malaysia, Poland, Romania, Russia, Slovenia, Turkey, Ukraine, Hungary, Finland, France, Netherlands, Croatia, Czech Republic, Switzerland and Sweden.

Corruption and weak rule of law remain serious problems. Some enterprises complain about non-transparent rules and unequal observance of the law.

Unemployment remains at a consistently high level - about 23%, but it can be exaggerated because it does not take into account the presence of a vast gray market, which is estimated at between 20% and 45% of GDP, which is not fixed by official statistics.

Macedonia is working on the creation of a nationwide gas pipeline and distribution network. At present, Macedonia receives small amounts of natural gas from Russia through Bulgaria. In 2016, Macedonia signed a memorandum of understanding with Greece on the construction of a distribution hub that could be connected to the Trans-Adriatic pipeline that will pass through the region after completion, or to the Greek LNG import port.

Macedonia maintained macroeconomic stability during the global financial crisis by conducting a reasonable monetary policy that keeps the domestic currency tied to the euro and inflation at a low level. However, in the past two years, the domestic political crisis has hampered economic performance, slowing GDP growth in 2016, and domestic private and public investment has declined.

In 2017, public debt stabilized by about 47% of GDP, which is relatively low compared with the Balkan neighbors and the rest of Europe. In 2016, Macedonia issued Eurobonds in the amount of about 495 million dollars. The USA for financing 2016 and a part of requirements of the budget of 2017.

Economy of Maedonia in figures

GDP (at purchasing power parity):

31.55 billion US Dollars (estimate for 2017)
30.78 billion US Dollars (estimate for 2016)
30.06 billion US Dollars (in 2015).
Note: Macedonia has a large gray sector of the economy, which can not be reflected in this data.

GDP - growth rate:

2.5% (estimate 2017);
2.4% (estimate 2016);
3.8% (for 2015).

GDP per capita:

15,200 US Dollars (estimate for 2017);
14,900 US Dollars (estimate for 2016);
14,500 US Dollars (for 2015).

GDP - composition by sector (estimate 2017):

agriculture: 10%;
industry: 30%;
Services: 60%.

GDP - composition (estimate 2017):

household consumption: 65.6%;
government consumption: 15.6%;
investments in fixed assets: 13.6%;
investment in inventories: 20.2%;
export of goods and services: 54%;
import of goods and services: 69%.

Mobile: +7 (926) 920 55 51

Office: +7 (495) 545-90-98

Telegram/what's up/viber: +7(929)9081047

Skype: ygrtima

konon@vitaliberta.com