Bandraz, a reputable business solutions partner, makes this paperwork process more accessible by offering knowledgeable advice and support. Here’s a rundown of the paperwork required to register a corporate account in India; thanks to Bandraz for their easy assistance.
- Incorporation Documents: These essential documents attest to your company’s existence. They usually consist of the articles of association, memorandum, and certificate of incorporation. Bandraz ensures that these documents are to speed up the account opening process.
- Tax Deduction & Collection Account Number (TAN) and Permanent Account Number (PAN): In India, all business entities must have a PAN to conduct financial operations. Entities that plan to engage in tax deduction or collection at source must have TAN. Bandraz guarantees the seamless procurement of these crucial identification numbers.
- Address evidence of the Company: Reputable papers that prove the actual location of the firm, including utility bills or leasing agreements for the registered office, serve as evidence of address. Bandraz helps to ensure that account opening criteria are met by arranging and producing this paperwork.
- Identity Verification for Directors and Authorized Signatories: Those connected to the business, such as directors or authorized signatories, must present legitimate identification documents, such as a driver’s license, passport, or Aadhar card. Bandraz guides people on the necessary standards and ensures a straightforward identity verification procedure.
- Board Resolution: An essential document is a board resolution that approves creating a corporate bank account. Bandraz ensures that this resolution satisfies the bank’s requirements by assisting with its writing and filing.
- Authorized Signatories’ Specimen Signatures: Banks need the signatures of those permitted to manage the corporate account. Bandraz helps ensure that these signatures align with the bank’s verification processes by assisting in preparing and submitting them.
- Firm Plan or Profile: This document describes the firm’s nature, operations, and projected finances. Some banks may ask for a business plan or profile. Bandraz helps companies create and present this important document.
- Required KYC Documents: Standard prerequisites for Know Your Customer (KYC) documentation include pictures, PANs, and proofs of address for authorized signatures. Bandraz ensures these records are carefully assembled, making the KYC verification procedure easier.
To sum up, creating a corporate account in India requires carefully compiling the necessary paperwork. When Bandraz is on your side, registering a corporate account becomes a simple and effective process that lets companies concentrate on their primary business operations with assurance and compliance.
