Few weeks back, I went with some persons to open a corporate bank account. Due to the fact that we didn’t know the Top Most Important Requirements For Opening A Corporate Account, it took us more time, energy and resources to finalise the process. As a result, I decided to write this to save you time, energy and resources. We hope you find this very helpful.
Business organisations, Non-governmental organisations (NGOs), religious organisations and groups etc need corporate accounts. These corporate accounts are different from personal or individual accounts. In this tutorial, we will show you the Top Most Important Requirements For Opening A Corporate Account. This is meant to guide you and save you time.
Top Most Important Requirements For Opening A Corporate Account
Whenever you go to open a corporate account in any Nigerian bank, the following documents and requirements will be needed.
- Certificate of Incorporation
- Valid IDs of Directors (photocopies)
- Passport photo of each account signatory
- Resolution from the Board of Directors/Proprietor(s) authorizing the opening of the account and approving the account signatories.
- Affix Company Seal
- Completely filled-up Corporate Account Opening Form signed by the company’s designated signatories (attach all required documents on the form)
- Certified true copies of Incorporation documents
- Proof of Residential Address of Signatories, Directors.
- Passports Photograph of the signatories
- Bank Verification Number of Directors or Proprietors
- Valid means of Identification (International Passport, Drivers License, National Identity Card or Voters card) of Directors/Proprietors
- Tax Identification Number for the Company
- Utility Bill of Business Address
- SCUML (Special Control Unit Against Money Laundering) Registration where applicable
- For foreign Nationals require other special requirements (Business Permit, Residence permit etc)
- Duly filled two Reference Forms by Corporate Account Holders.
- Any other document asked by your bank.
It is very important that the signatories go to the bank with these listed documents. Also note, most of the items listed above does not apply to every corporate organisation. Use the documents your organisation have and approach your bank. Further guideline will be given to you where necessary.
Did you find these Top Most Important Requirements For Opening A Corporate Account helpful? Let’s hear your thoughts on them. Thank you.