How to Open a Private Limited Company Bank Account

After the incorporation of a private limited company, you also need to adhere to several compliance. These include conducting the first board meeting, appointing a statutory auditor, opening a private limited company bank account, obtaining the certificate of commencement of business, etc. A Pvt Ltd Company must open a current account for business transactions. In this article, we will take you through the steps to open a private limited company bank account along with the required documents.

Documents Required -

The Reserve Bank of India (RBI) has listed some KYC norms for companies to open a bank account. Further, based on those norms, here is a detailed list of documents that you might need:

1. The Board Resolution for opening the company’s account

2. Also, the Certificate of Incorporation of the Company

3. Copy of Memorandum of Association and Articles of Association

4. Further, identity proof of all Authorized Signatories and/or Directors from the list below:

* Aadhaar card

* Arms License

* Driving License

* Fisherman Identity card issued by State/Central Government

* PAN card of the Director

* Passport

* Senior Citizen Card issued by State/Central Government

* Voter Identity Card

5. The bank will provide a format to submit the latest list of directors. Submit it with the relevant details.

6. Copy of PAN Card of the company.

7. Proof of appointment/resignation of the directors.

8. Also, if the registered office of the company is different than that mentioned in the Certificate of Incorporation, then you need to provide proof of the registered office of the company.

9. The bank will provide a format to submit the shareholding pattern in the company. You must also submit the same with relevant details.

To know more about how to register private limited company in details keep reading at - https://bit.ly/2Y4zryP