A corporate account is used to pay taxes and salaries and to receive payments. It is opened after registration. Here are the banks, documents and the sequence.
Which banks
Namibia has four major commercial banks: Bank Windhoek, First National Bank (FNB), Standard Bank and Nedbank. If the owner already banks with a group present in Namibia, onboarding can be smoother because part of the due diligence data is already on file.
Company documents
A typical pack (based on FNB Namibia's requirements for a private company):
- certificate of incorporation and certificate to commence business;
- Memorandum and Articles of Association;
- notice of registered office and postal address (CM22);
- special resolution and register of directors;
- list of shareholders holding 20% or more;
- tax numbers (income tax, and VAT where applicable).
Personal documents
The bank checks everyone connected to the company: directors, the person exercising executive control, shareholders with 20% or more, authorised signatories and beneficial owners.
- Foreign nationals: a valid foreign passport. If the company trades in Namibia, a valid permit or visa marked business is also required.
- Copies are certified by a commissioner of oaths, or originals are presented to a bank officer.
Bank forms
Company mandate, list of signing officers, product application forms (account, internet banking).
Sequence
- Register the company and receive the certificates.
- Prepare the company and personal document packs.
- Apply to the chosen bank, with an in-person meeting where needed.
- Deposit the share capital, after which the bank issues confirmation.
- Activate internet banking.
Requirements and timelines differ between banks and are discussed at the first free consultation.
What changed in 2026
In June 2026 Namibia was removed from the FATF grey list. More in Namibia exits the FATF grey list.
How we help
We prepare the pack with partners and support the dealings with the bank. Opening corporate and personal accounts is part of our services.
This material is provided for reference. Bank requirements are published by the banks.