There are many reasons you might need a bank account outside of Canada. If you plan on purchasing a vacation property outside of Canada, have international business interests or are leaving home to study abroad, you will need to open a bank account. It may seem like a daunting task to deal with an international institution, but it’s easier than you might think!
In the past, if a Canadian needed to open a bank account in another Country, they would travel to that bank, and present themselves in person so the bank could verify all of their documentation. With the help of a Notary, this costly and time consuming step can often be avoided. Providing the bank with the material they need to satisfy their requirements is easier than ever.
In many jurisdictions, the banking institution is able to provide you with forms by email or mail that need to be signed in front of a Notary. These Notarized documents are used as verified original signatures for your account. A Notary can also provide the banking institution with Certified True Copies of your identification for their records. This document tells the bank that the Notary has compared your original documents with the photocopy and certifies it to be a true and correct copy of the original.
In some cases, the bank may also require the authentication and legalization of your documents. This is a two step process that begins with having the signature and seal of a Notary authenticated by Official Document Services here in Ontario to confirm that they are authorized as a Notary on record in the Province. The next step is to have the document legalized (or approved of) by the consulate of the Country in which the bank is located. If the bank account is for personal use, you could be asked to provide a legalized copy of your passport, driver’s license or utility bill. If the account is for business purposes, you may be required to provide legalized copies of your Articles of Incorporation and By-Laws.
Our experience with foreign consulates translates into faster service and shorter wait times for you – saving you valuable time and expense. Bring us the materials you need to satisfy your bank – we will do all of the legwork for you and get it done right!
To schedule an appointment with Red Seal Notary, call us at 1-888-922-7325 or use our online appointment request form.