Documents Required to Open a Business Bank Account in India
Opening a business bank account in India isn’t something you can rush through. It keeps you aligned with RBI rules and helps you avoid penalties, account freezes, or the confusion that comes when personal and business money get mixed. Since banks follow strict KYC checks, every business owner has to provide the right documents, including PAN, basic registration papers, and any approvals your business type needs.
And if you’re planning to start a business soon, understanding these requirements upfront makes the whole setup smoother. This guide breaks down the documents for each entity so you can arrange everything before you apply.
Which Businesses Are Required to Open a Business Bank Account?
The documents you need for a business bank account depend a lot on the type of business you run. Here’s a quick look at the common business entities in India:
| Business Entity | Description |
| Sole Proprietorship | Run and owned by one person. Simple to start and ideal for small businesses |
| Partnership Firm | Run by two or more partners who share duties and earnings as set out in their partnership agreement |
| Limited Liability Partnership (LLP) | Functions similarly to a partnership; however, it offers partners limited liability coverage |
| Private Limited Company (Pvt. Ltd.) | A distinct legal structure featuring shareholders and directors. Ideal for companies aiming to grow |
| One Person Company (OPC) | A company owned by a single person, offering limited liability benefits |
| Trusts, NGOs, Societies | Operate under specific laws and require documents based on their governing rules and registration |
Understanding your business type helps you prepare the right documents in advance and makes opening your bank account much smoother.
Common Documents Required to Open a Business Bank Account
No matter what type of business you have, banks usually ask for a few basic documents to verify your identity and your business. These commonly include:
- Proof of identity for the owner or partners – such as PAN, Aadhaar, a passport, voter ID, driving licence
- Proof of address for the owner or partners – such as Aadhaar, electricity bill, driving licence, or PAN card- is required
- Recent passport-size photographs
- PAN card belonging to the business
- Proof of company location – such as a rental agreement, electricity bill, or ownership papers
Having these ready for the bank makes the account opening process smoother and quicker.
Since a company PAN is one of the key KYC documents, many businesses sort this out early. If you’re setting up your business and still need to apply for a company PAN, you can take a look at our guide on: Apply for a Company PAN Card: A Comprehensive Guide
Additional Documents Based on Business Type
Banks ask for extra documents depending on the kind of business you run. Here’s a breakdown for different entities:
Private or Public Limited Company
- Memorandum of Association (MOA) & Articles of Association (AOA)
- Updated list of directors
- Board Resolution approving account opening
- Shareholding pattern and ID proofs of owners with more than 10% shareholding
- Address proof (any one: Aadhaar, voter ID, passport, driving license, utility bill, rent agreement)
- Identity proof (any one: PAN, Aadhaar, passport, voter ID, driving license)
- Business registration certificate/incorporation certificate
- PAN of the company
- Latest passport-size photos
- Account opening cheque from an existing bank account
Opening a bank account for a company often means gathering more than just the basics. For a complete walkthrough, you can read our blog: Documents required to open a bank account for company
Sole Proprietorship
- Two documents confirming the name and address of the business (government-issued), such as any official registration or license document e.g. GST Registration Certificate, Shop Establishment License or a FSSAI License, etc, serving as business proof.
- Latest passport-size photograph of the proprietor
- Proofs of identity and address for any Power of Attorney holder
- Business registration proof
- PAN of the entity
- Account opening cheque from an existing bank account
Limited Liability Partnership (LLP)
- Registration certificate from the Registrar of LLP
- LLP deed agreement
- LLP letter
- Updated list of designated partners
- Proofs of identity and address for partners and any Power of Attorney holder
- Business registration certificate
- PAN of the LLP
- Latest passport-size photos of partners
- Account opening cheque from an existing bank account
These are the usual documents banks ask for. For a detailed checklist and the advantages of an LLP account, you can check out our blog: Advantages & document checklist for opening a bank account for an LLP
Partnership Firm
- Partnership deed and letter
- Trade license (if applicable)
- Shareholding pattern/list and ID proof of all beneficial owners who own more than 15% of the firm
- Address and identity proofs of partners
- Business registration certificate
- PAN of the Partnership firm
- Latest passport-size photos
- Account opening cheque from an existing bank account
Your partnership agreement does more than support bank account opening. It also lays out how decisions, profits, and duties are shared. For a deeper look at how to structure it well, here’s a helpful guide on: How to create a balanced Partnership Agreement for partners?
Trusts, Societies, Associations & Clubs (TASC)
- Trust deed, bylaws, MOA, AOA, or applicable rules/notifications
- List of directors/members or managing committee
- Address and identity proofs for all authorized signatories
- PAN and address proof of the entity
- Proof of recognition or exemption (if applicable)
- List of beneficial owners holding more than 15%
- Account opening cheque from an existing bank account
Hindu Undivided Family (HUF)
- HUF letter
- PAN of the HUF
- Latest passport-size photos of all authorized signatories
- Address and identity proofs for all authorized signatories
- Business registration proof
- Account opening cheque from an existing bank account
- Landline/mobile number and email ID
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Having your documents ready makes opening a business bank account much easier. When your ID proofs, address details, and business papers are in place, you avoid delays and the whole process feels more straightforward. No matter what type of business you have, getting these essentials sorted gives you a steady start and keeps things smooth with the bank.
If you want someone to guide you through business registration or setting up your business documents, you can get support from LegalWiz.in. They keep things clear and make the process easier to handle.
Frequently Asked Questions
What are the mandatory KYC documents to open business bank account in India?
Mandatory KYC papers for a company’s bank account in India involve the firm’s PAN card; a Certificate of Incorporation – or similar registration proof – alongside a Board Resolution that approves both the creation of the account and its authorized signers.
Is GST registration mandatory for opening a business bank account?
No, GST registration is not always mandatory. It’s required only if your business falls under GST rules. Otherwise, banks accept other valid business documents.
How long does it take to open partnership firm bank account in India?
Most banks finish the process in 3 to 7 working days once your documents are in place. If they need extra checks, it can take a bit longer.
Is board resolution required for company current account opening India?
Yes, a board resolution must be made when starting a business bank account in India. It gives official permission for the company to proceed, while naming certain people who can manage it – like initiating or handling transactions.
Avani Kagathara
Avani Kagathara brings order to legal chaos as a Content Writer at LegalWiz.in. Armed with an accounts and audits background, she has a knack for making complex legal topics feel less intimidating. Fair warning: she's equal parts thoughtful analyst and spontaneous free spirit.
