An export-import firm must open a bank account with an international bank that can accommodate specialized transactions such as letters of credit, foreign exchange payments, forfeiting, and so on. Some international banks have subsidiaries in importing countries that can verify the creditworthiness of foreign buyers. Sole proprietors and partnerships can open a bank account by submitting an affidavit of the fictitious business name statement to the bank with the initial deposit. In the case of a corporation, banks often require articles of incorporation, an affidavit that the company exists, and its tax identification number. It is important to check with the city or county to determine whether permits or business licenses are required.
Source: Seyoum Belay (2014), Export-import theory, practices, and procedures, Routledge; 3rd edition.