Owatjiri Accounting and Business Consultants

Season’s Greetings to all our , & services clients! May you enjoy this time with your loved ones.

Public Notice: Closure for the Festive Season

Btw, If you have not visited us to waive your penalties, we open again on 02 January 2024.

Everything you need to know @: https://www.bipa.na/penalty-waiver/

Why do banks require a valid visa of a foreign owners of a company or close corporation, even when the bank account is for the company or close corporation registered under the Namibian Close Corporation and/or Companies laws? Moreso, there are no laws in Namibia restricting foreigners from owning businesses in the country, eliminating any residency requirement, such as a valid visa, for registering a company or corporation with BIPA. So, why impose a residency requirement, such as a valid visa, for opening a bank account for a locally registered company or corporation?

While I can understand the necessity of a valid visa or permit for an individual seeking a personal bank account that is NOT a Namibian resident, it appears that banks may be conflating the distinction between a juristic/legal person and a natural person.

Could the banks, BIPA, or the central bank (particularly FIA) provide clarification or feedback on this matter?

BIPA Namibia Bank of Namibia FNB Namibia Nedbank Namibia Standard Bank Namibia Bank Windhoek

"Year's end is neither an end nor a beginning but a going on" - Hal Borland.

For bookkeeping needs in 2023, contact us…

C: +264 81 4998384 (NAM)
T: +27 64 757 9535 (ZA)
W: https://www.oabconsultants.com
E: [email protected]

#2022 #2023

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C: +264 81 4998384
W: https://www.oabconsultants.com
E: [email protected]

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C: +264 81 4998384
W: https://www.oabconsultants.com
E: [email protected]

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Offer tailored , & services to small business owners. This services comes with ongoing support and expert advice on the subject matter. We also provide specialist services to public interest entities.

Contact us for free quote or consultation to get to knows us. 👉🏽 click on our bio