The requirements to open a business account can vary based on the type of business you have, the country that you are living in, and the type of the financial institution you want to work with. Here’s a basic overview that you’ll need to open a business/business account based on your entity type:
- Public Company.
- Private limited Company.
- Limited Liability Partnership.
- Limited Liability Company or Limited Partnership.
- Foundation Trust , etc.
Basically, there are two types of documents that you need to open a business account: Director & Shareholder Documents and Company Documents.
Here is what basic Director & Shareholder Documents are required:
- Director/Manager Passport.
- Shareholder/Member Passport.
- Address Proof.
- UBO, EIN, or Sole proprietors & single-member LLCs may be able to use their Social Security number, ect.
Here is what basic Company Documents are required:
- Company Documents.
- Certificate of Incorporation/Registration.
- Memorandum and Articles of Association.
- Company Address Registration.
- Share Certificate.
- Business License.
- FATCA/CRS Entity Self-certification.
- Company Extract, ect.
Clients are required to submit soft documents, hard documents, or any additional proofs depending on the specific inquiry process. Clients are also required to join online interviews with members of DNBC Financial Group for the purpose of clarifying information.