To open a business current account, banks need to verify who you are (KYC) and that your business is genuine. The exact documents depend on your business structure.
This guide lists the documents required by business type.
What is How to Open a Current Account?
All current accounts need identity and address proof of the signatories plus proof of the business's existence and address. Companies and LLPs also need incorporation documents and a board/partner resolution authorising the account.
Two proofs of business are commonly required.
Documents by business type
| Type | Business proof commonly needed |
|---|---|
| Proprietorship | GST/Udyam/Shops & Establishment + PAN |
| Partnership | Partnership deed + PAN + registration |
| LLP | Incorporation certificate, LLP agreement, PAN |
| Company | Certificate of incorporation, MOA/AOA, board resolution, PAN |
Frequently asked questions
What are two proofs of business for a proprietorship?
Any two of GST registration, Udyam certificate, Shops & Establishment licence, or a professional licence, along with PAN.
Does a company need a resolution to open an account?
Yes. A board resolution authorising the account and its signatories is required.