How can I open a foreign currency account in Ethiopia?

Can foreigner open bank account in Ethiopia?

Opening a new Bank account in Ethiopia is easy as long as you are an Ethiopian and you have a valid Ethiopian document. If you are a foreigner you will need to poses a Resident permit. Many people at times go into banks to open accounts but majority always have this problem of address verification by the bank.

How can I open a dollar account in Ethiopia?

It can be opened with an initial deposit of US Dollar 100 or its equivalent in any of the above stated currencies.

  1. Application forms properly filled and signed by the applicant and specimen signature.
  2. For Ethiopians or foreign nationals of Ethiopian origin individuals, valid passport and/or identification card.

How do I open an Ethiopian Diaspora account?

Persons residing abroad can open the account in person, by contacting Untied Bank’s agents or by directly filling out the application form from the Bank’s website, and filling all the required information and presenting documents to the Ethiopian Embassies in their domain for authentication and …

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How do I open a Diaspora account?

The requirements for Diaspora account are:

  1. Duly completed account opening form including signature mandate section.
  2. Any of the following valid means of identification: International Passport. …
  3. Proof of Residential Address (any one of the following): …
  4. One passport Photograph.
  5. BVN of Signatory(ies)

Can foreigner buy house in Ethiopia?

A foreigner cannot buy land n Ethiopia but one can lease land for any investment including farming. Even Ethiopian Citizens cannot buy land in the country. It used to be that anyone could own land under the Haile Selasie government.

What is Diaspora account Ethiopia?

What is Diaspora Account? It is a deposit account targeted for Ethiopians in Diaspora to open and use foreign currency account at home country. • Individuals and companies can open this account. • This account can serve as collateral to get credit in local currency from domestic.

Why banking business is regulated in Ethiopia?

The banking sector in Ethiopia is regulated by the central bank, the National Bank of Ethiopia, with the aim of ensuring the health of the financial sector and improving the efficiency of service provision.

What is retention account in Ethiopia?

“Forex Retention Accounts” shall mean foreign currency accounts maintained by eligible exporters of goods and services and recipients of inward remittances in accordance with the provisions of these Directives.

What is the benefit of Diaspora account?

Interest income on such accounts is tax-free. The bank will issue certificate for customers when the money is transferred. account holder presents travel documents that ensure he/she is leaving the country. Foreign currency transfer outside of Ethiopia is possible.

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What is the meaning of Diaspora account?

The Diaspora Banking Account is a platform that allows Nigerians living and working outside the country to maintain transactional accounts and perform domestic and foreign transfers through their accounts with Access bank.

What is First Bank diaspora?

Description. FirstDiaspora is an offering from FirstBank which is specially designed for Nigerians living abroad by providing them a platform to have a safe, easy and convenient access to our wide range of products and services that will take care of their banking needs.

Which bank is the best in Nigeria?

Top 10 Best Banks In Nigeria

Top 10 Best Banks In Nigeria
#1 First Bank Nigeria Plc
#2 Access Bank Nigeria Plc
#3 Guaranty Trust Bank Plc
#4 Zenith Bank Plc

How can I open a bank account without BVN?

Steps To Open Access Bank Account Without BVN In Nigeria

  1. Dial *901# on your phone.
  2. Select open “1” to open an account.
  3. Enter the right information according to the instructions you see on your screen. …
  4. Always make sure you have checked each detail entered before you move to the next step.


Hai Afrika!