What are the KYC documents required to open a bank account in case of a Company?

CS Professional · Banking and Insurance - Laws and Practice · PYQS · December 2024
What are the KYC documents required to open a bank account in case of a Company?

Answer & Explanation:

The following are the Know Your Customer documents required to open a bank account in case of a company: Copy of Certificate of Incorporation (CIN). Copy of Memorandum & Articles of Association. Copy of PAN of the Company. Resolution of the Board of Directors to open an account and list of officials authorized to operate the account. Identification of authorized signatories should be based on photographs and signature cards duly attested by the company. Copies of proof of identity and proof of address along with PAN of managers, officers of employees holding Power of Attorney to transact business on its behalf. List of directors along with DIN and copy of Form 32 (if directors are different from AOA).

Topics: Banking Laws and Practice

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