Opening your company's bank account in Algeria

Why the account must be in the company's name

A company is a separate person from its partners. It only exists legally from its registration with the trade register, and it is the company that collects money and files returns. Its money must therefore go through an account in its own name, not the manager's personal account. This account is used to receive customer payments, pay suppliers, pay salaries, and pay taxes and contributions. It also makes the accounts simpler: every movement is recorded.

When to open it

The company account is opened after registration: before that, the company does not yet exist for the bank. In practice, banks also ask for the NIF and the NIS, which puts the account opening right after the tax office and the ONS. For paying in the capital when the articles are drawn up, follow the arrangements the notary gives you.

1. Registration with the trade register.
2. G n°8 declaration of existence and NIF.
3. NIS from the ONS.
4. Opening the business account and making the company stamp.
5. First invoices and first tax returns.

Documents usually requested

The steps, from choosing a bank to your RIB

1. 1

   Choose the bank

   Compare a few banks: branch location, account fees, online services, payment methods offered (chequebook, card, card terminal).

2. 2

   Ask for the document list and an appointment

   Get the written list of documents and forms. Note the name of your contact at the branch.

3. 3

   Prepare the file

   Gather the originals and clear copies. Check that the company name and registered office address are identical on every document.

4. 4

   Sign at the branch

   Usually the manager signs the opening request and the specimen signature in person. If they cannot travel, ask the bank on what terms it accepts an authorised representative.

5. 5

   Receive the RIB

   Once the account is open, the bank gives you the RIB (bank account details). Send it to your customers and partners, and run every company transaction through this account.

Choosing your bank well

If the manager lives abroad

Opening an account often requires a signature at the branch. If the manager lives abroad, ask the bank about the options: coming in during a stay in Algeria, a representative holding a power of attorney, or appointing a manager who lives in Algeria. Our page for diaspora entrepreneurs explains these options.

Mistakes that delay the opening

• A registered office address that differs between the trade register and the proof of office.
• A manager appointed after the articles, with no appointment minutes in the file.
• A specimen signature that does not match the manager's usual signature.
• Coming without the originals when the bank wants to see them.
• Waiting for the stamp before booking: have it made as soon as you receive the trade register extract.