How to open a bank representative office
Video: What is a Representative Office 2024, July
A bank representative office is a separate division. It is located on a different territory than the bank itself, represents and protects its interests. Unlike a branch, a representative office cannot perform banking operations. Despite the fact that the representative office is not a legal entity and operates under the same provisions as the parent organization that formed it, the opening involves a rather large number of documents.
You will need
- - decision of the board of directors;
- - the charter of the bank with the corresponding changes;
- - premises and other property required by the representative office;
- - a set of documents of the parent organization;
- - stamp and signature samples of the leaders of the new unit.
Instruction manual
1
About opening separate divisions, whether it is a representative office or a branch, take care in advance. The appropriate decision should be made by the governing body of your credit organization. This is usually a board of directors. He sets the deadline for opening a representative office.
2
Make the necessary changes to the charter of the bank. This is usually done at the next annual general meeting. The charter should reflect which particular branches and representative offices the bank has, which is provided for by instruction No. 75-I of the Central Bank of Russia of July 23, 1998. Changes to the charter are also introduced upon closing of separate divisions. Open a current account for a new representative office.
3
Prepare your office space. It is necessary to put it in order until the moment when you send a notice to the Bank of Russia. The property belongs to the bank and stands on its balance sheet and on the balance sheet of a separate division.
4
Prepare documents for future employees and managers. You must have orders for hiring or transferring from other units, and for appointment. You need a power of attorney, because the representative acts on behalf of the bank. This is also done until the notification is sent. The procedure for issuing a power of attorney is determined by Article 185 of the Civil Code of the Russian Federation. As a rule, a notarized document is required, since the representative office of the bank receives the authority to enter into transactions on behalf of the bank and sign the documents. The power of attorney must be signed by the head of the bank or another person with the appropriate authority.
5
Order stamps and stamps for the new dealership. They must be ready and received before you send a notice to the Bank of Russia. It is advisable to order not only the stamp and other necessary stamps, but also facsimile stamps.
6
Prepare a notice for the Bank of Russia. It must be printed in duplicate. They are sent to different institutions. One copy is transferred to the branch that exercises supervisory functions over your bank, and the second to the one located in the same territory as your future representative office. Attach a statement of representation to each copy of the notice. This must be done within ten days from the start of the representative office.
7
The Bank of Russia territorial institution, which is responsible for overseeing your bank, must enter the representative office in the register of representative offices of credit and audit firms and inform you that this has been done within five days from the receipt of the notification. The corresponding stamp is placed on the first copy of the notice. The Bank of Russia regional office writes a cover letter and sends it along with the notification to the Bank of Russia Licensing and Audit Firms Licensing Department.
8
The Bank of Russia should add a new representative office to the Book of State Registration of Credit Organizations. You should receive confirmation that this has happened. After that, the representative can calmly continue the activities that have begun.
