Bank Account Opening in Egypt

Foreigners can open a bank account in Egypt, and since 2024 that includes foreigners who do not live in the country. A circular from the Central Bank of Egypt in August 2024 told banks to allow non-resident foreign clients to open accounts, subject to the usual know-your-customer and anti-money-laundering checks, as reported by Ahram Online. An Egypt bank account opening is still an application, not a purchase: the bank can decline without giving every reason. We prepare the pack the bank asks for and stay on the application until the bank opens the account or declines it.

Documents banks commonly ask for

• A valid passport for each account holder
• Your Egyptian visa or residence permit, if you have one
• Proof of address, in Egypt or abroad
• An Egyptian mobile number, which banks use for verification and online banking
• Proof of employment or income
• An explanation of the source of the funds you will deposit, and sometimes a reference from your foreign bank

Requirements and minimum deposits vary by bank and by account type. Some banks, such as QNB Egypt with its digital onboarding, publish their own conditions, but foreigners are often asked to complete the process at a branch.

Residents and non-residents

Foreigners who live in Egypt usually show a residence permit and an Egyptian address. Non-residents can now apply too, but banks apply enhanced checks, may limit the products offered, and may ask for more evidence of income and source of funds. We check which banks accept your profile before you apply.

Currencies

Egyptian banks open accounts in Egyptian pounds and in foreign currencies such as US dollars and euros. Foreign-currency deposits and transfers are subject to Central Bank of Egypt rules, which have changed several times in recent years, so we confirm the rules that apply when you open.

Do you need to visit the bank?

Usually, yes. Most banks identify foreign clients in person at a branch with the original passport. We confirm the bank's process before you book travel.

Company accounts

A company account needs the commercial registry extract, the tax card, the articles of association, the authorisation of signatories, and identification for shareholders, directors, and beneficial owners. See our company incorporation service in Egypt.

Why applications get delayed or refused

• No Egyptian mobile number for verification
• Proof of income or address the bank does not accept
• A source of funds that is not documented
• A purpose for the account that is vague
• Choosing a branch that rarely opens accounts for foreigners

Related to your application

A local account is often opened alongside other paperwork. If you hold or are applying for Egypt citizenship by investment, the bank can ask for your certificate of registration or passport as part of its checks. You can browse every Egypt service, including company incorporation, passport renewal, and the police clearance certificate.

• A check of which bank in Egypt will consider your nationality, residence, and planned use of the account
• A document checklist built from that bank's current rules for non-residents
• Review of your passport, second ID, proof of address, references, and source-of-funds papers before anything is sent
• Help arranging notarised or certified copies, apostilles, and translations when the bank asks for them
• Preparation of the bank's application, signature, and tax-residence (FATCA/CRS) forms
• Submission and follow-up with the bank, including answers to its compliance questions
• A clear note in advance if the bank wants a branch visit, a video call, or more documents
• For companies: preparation of the corporate pack (incorporation documents, registers, good standing, ownership chart, board resolution)

1. Brief. Tell us who the account is for (you, your family, or your company), where you live, the currencies you need, and what the account will be used for.
2. Bank match. We identify a bank in Egypt that accepts your profile and confirm its document list, whether it needs a visit, and its opening deposit and fees. You then receive our quote.
3. Document pack. You send scans; we check them, arrange notarised copies, references, or translations if needed, and fill in the bank's forms with you.
4. Submission. The signed forms and certified documents go to the bank, by courier where originals are required.
5. Compliance review. The bank runs its due-diligence checks and may ask follow-up questions about your income, assets, or planned transactions. We help you answer them.
6. Account opened. The bank confirms the account number and you fund the opening deposit. Cards and online-banking access follow on the bank's own timeline.
7. After opening. Keep your details up to date: banks ask account holders to refresh identification and address documents from time to time.

You receive a quote before any filing starts. It separates the CitizenX fee from the bank's opening deposit and charges, notarisation, apostille, translation, and courier costs. Those extras are added only when they apply, and only after you approve them.

Minimum opening deposits and monthly fees are set by each bank and differ by account type, so we confirm them with the chosen bank before you apply.