Yes, after obtaining the FZE certificate and operating license, we will coordinate with our bank partner to help you open a bank account. In the process, we may ask for your permission to share some of your information with the bank.
It typically takes one week to create a new bank account.
Ecobank is our primary banking partner however, due to customer preferences, we’re working to onboard new banking partners to provide you with more options.
Yes, offshore banking is one of the inherent benefits of being a free zone enterprise. We’re working to include it as one of the features of Edge — our one-stop-shop app for free zone operations. This means that once you operate in the Itana Zone, your business will have both a Nigerian and an offshore business bank account.
Free Zone Entities are allowed to operate, and provide services in any currency. You can have various currency options for your customers to choose from. There will also be offshore banks that will allow you to trade in foreign currencies.
Yes, you need to open a bank account in the name of the FZE. This is because your taxes and other filings will be audited with the statements of this bank account.
Everything you would need for registration including a resolution to open a bank account from your board of directors and most importantly, Bank Verification Number for the directors and signatory to the account. If you are non-Nigerian without a BVN, you can get one from one of these centres.
There is no turnover limit applicable to free zone entities.
