Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
The documents you'll need
To open a company current account, banks ask for the certificate of incorporation, the MOA and AOA, the company PAN, a board resolution naming the account and authorised signatories, and the KYC of the directors and signatories. The account is opened in the company’s own name, separate from any personal account.
Why it comes first
The account matters early because the subscribers must deposit their share capital into it, and that deposit is the proof you need to file INC-20A within 180 days. So opening the account is a gating step before the company can commence business. Many incorporations now bundle account-opening into the SPICe+ form. Document lists vary by bank — confirm.
A worked example
Example: a newly-incorporated company opens its current account using the incorporation papers and a board resolution, the two founders deposit ₹50,000 each as their subscribed capital, and the company then files INC-20A citing that deposit. Keeping company money strictly in this account (not a personal one) also keeps the limited-liability shield intact. Our team can guide the account-opening and INC-20A together.