Open A bank Account in Madagascar

Member since 13 May 2024

udenihasMember13 May 2024 03:49:37

Dear provider

I willing to open a bank account in Madagascar as a foreigner for my export business purpose. So need to how can I open a bank account

I am in Sri Lanka, the following need to clarify

I will be visit to Madagascar

And I will be doing business as a agent buying materials from my client and exporting to other country

So kindly access how can I open a account

Do I need to come for Madagascar

And what is the procedure of doing

Thanks Ravindra

lewmills New member

Member since 19 September 2021

lewmillsNew member13 May 2024 05:54:52

@udenihas I don't have the full answer, but I'm going to suggest that it could be complicated. I think you'll have to establish that you have a company in Madagascar, especially if you want to hold currency in something other than Ariary. There are also banks, like the Commercial Bank of Mauritius, that have branches in Antananarivo. I can't imagine trying to open an account and be in business here without visiting in person. You will want to consider the tax implications of the decisions you make.