Export Credit Insurance - Nationality Requirements

Usually no nationality requirements have to be satisfied by the exporters. In a few specific cases the exporters must have the nationality of the country where the credit agency or the insurance company is based: the Dutch NCM, for example, requires the exporter to be Dutch when cover of political risks with reinsurance by the Dutch government is needed.

Other exceptions refer to the enterprise itself: in Austria, for example, insurance cover may be provided to enterprises domiciled in the country or abroad which export Austrian products or invest abroad, or to credit institutions domiciled in Austria or abroad which finance Austrian export.

In Denmark, insurance cover may be provided to an exporter or to a Danish or foreign bank that is financing a transaction by means of buyer’s credit.

In Germany, cover is available to German exporters and normally for goods manufactured in, and services rendered from within Germany, while in Spain there are no nationality requirements as far as the goods exported are Spanish.

In the United Kingdom, specific guarantees are restricted to UK companies or foreign companies exporting UK goods and services.

In Switzerland, the rules are stricter: applicants must be domiciled in the country and entered in the Register of Commerce.

In the non-European countries, two are the most required elements: in some countries, such as Australia, New Zealand, Hong Kong, and Malaysia rules are more tolerant and to be eligible for cover, business entities must carry on business or other activities in those countries.

In Eastern-European countries (Hungary, Poland, Czech and Slovak republic and Romania), in the Asian countries (Japan, Taiwan, Indonesia, Singapore, China, and Thailand) and in South Africa it is necessary to be legally resident, or the company should be registered there.

Particular conditions are required in Saudi Arabia, where, in order to qualify for cover, exporters may be either of the following:
- client of the Islamic development bank;
- persons who are nationals of a member state;
- corporations or other juridical entities, the majority of whose shares are owned by nationals of one or more member states and whose principal office is located
in a non-member state, provided that not less than 50% of its shares are owned by nationals of member states.