A Guide to Opening a CDS Account for Kenyans Living Abroad
Learn how to open a Central Bank of Kenya (CBK) CDS account as a Kenyan in the diaspora with this comprehensive step by step guide. Simplify the process and manage your investments seamlessly as a Kenyan in the diaspora.
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Eligibility Requirements
To open a CDS account, applicants must meet specific eligibility requirements.
- Only Kenyans residing abroad with a local commercial bank account can apply directly at the Central Bank of Kenya (CBK).
- Non-Kenyans and Kenyans without a local account can invest in Kenyan government securities as nominees through authorized CBK agents, including commercial banks, investment banks, and stock brokers based in Kenya.
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Required Forms and Personal Documents
To complete the required process, please follow these steps:
- Print the appropriate mandate card and fill in your personal details.
- Attach a recently taken colored passport-size photograph along with a copy of your Kenyan National Identity Card (ID) or Passport. Ensure these documents are certified by a local commercial bank based in Kenya.
- Have your completed CDS mandate card certified by your commercial bank.
- The certification involves the bank appending its stamp and signatures of two authorized signatories on the designated space of the CDS mandate card.
- Scan the completed and certified CDS mandate card and email it to ndo@centralbank.go.ke
- Additionally, send the physical copies of the mandate card and attachments by post to:
- The Director,
- Financial Markets Department,
- P.O. Box 60000-00200, Nairobi, Kenya
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The Initial Application Process
To begin the application process, follow these online registration steps:
- Visit the Central Bank of Kenya's official website at www.centralbank.go.ke.
- Download the appropriate mandate card based on your investor type.
For individual investors, select the "Mandate Card (Individual)," and for corporate investors, choose the "Mandate Card (Corporate)."
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Account Activation Process
After the CDS account is opened, the investor will receive an email notification containing the CDS account number.
This email will be sent to the address provided on the CDS mandate card submitted to CBK. Subsequently, a formal letter of notification will also be sent to confirm these details.
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