An Authority Letter For Bank Account Opening is a crucial document in Austrian banking procedures when an individual or entity needs to delegate the power to open a bank account to another person. This delegation might be necessary due to various circumstances such as physical absence, business efficiency, or corporate requirements. The document must conform to Austrian banking regulations, particularly the BWG (Bankwesengesetz) and FM-GwG (Financial Markets Anti-Money Laundering Act). It includes specific details about the authorizer and authorized person, scope of authority, account specifications, and validity period. The letter serves as a legal basis for the bank to accept instructions from the authorized representative and forms part of the bank's due diligence documentation.
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1. Letter Header: Date, bank's name and address, reference numbers if any
2. Subject Line: Clear indication that this is an Authority Letter for Bank Account Opening
3. Authorizer Details: Full name, address, and identification details of the person granting the authority
4. Authorized Person Details: Full name, address, and identification details of the person being authorized
5. Authorization Scope: Specific powers being granted regarding the bank account opening process
6. Account Details: Type of account to be opened and any specific requirements
7. Duration of Authority: Validity period of the authorization
8. Declaration: Statement of truth and accuracy of information provided
9. Signature Block: Space for signatures, dates, and witness details if required
1. Joint Account Details: Additional section needed when the authority relates to opening a joint account
2. Business Authorization: Required when the authority is being granted on behalf of a company, including company details and proof of authority to delegate
3. Special Instructions: Any specific limitations or special requirements for the account opening
4. Witness Section: Required in cases where witnessing is necessary for additional verification
5. Translation Declaration: Required when the letter is being provided in multiple languages
1. Identity Documentation: Copies of valid identification documents of both authorizer and authorized person
2. Proof of Address: Recent utility bills or official documents showing current address
3. Company Documents: Required for business accounts - includes registration certificates, company resolution etc.
4. Specimen Signature: Official signature samples of the authorized person
5. Power of Attorney Template: Bank's standard power of attorney form if required to be filled alongside the authority letter
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Corporate Services
Legal Services
Business Consulting
Wealth Management
International Trade
Real Estate
Investment Services
Professional Services
Relevant Teams
Legal
Finance
Compliance
Corporate Services
Administration
Treasury
International Business
Account Management
Risk Management
Corporate Governance
Relevant Roles
Chief Financial Officer
Finance Manager
Account Manager
Corporate Banking Officer
Compliance Officer
Legal Counsel
Company Secretary
Treasury Manager
Financial Controller
Banking Relationship Manager
Corporate Services Manager
Business Development Manager
International Business Manager
Administrative Officer
Power of Attorney Holder
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