How to open a business account in Canada

Snapshot

To open a business account in Canada you choose a provider, gather your registration documents and identification, and apply online or at a branch. A sole proprietor needs business registration and identification, while a corporation needs its incorporation documents and Canada Revenue Agency business number.

Who can open: Sole proprietors and corporations
Typical time: Same day to a few weeks
Key documents: Registration or incorporation papers, business number, identification
Non resident: Harder, often needs Canadian registration

Process and requirements as of 18 March 2026Last reviewed 18 March 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

As of 18 March 2026, opening a business account in Canada follows a few steps: pick a provider that fits how you bank, gather your documents, and apply online or at a branch. A sole proprietor usually provides business registration such as a Master Business Licence or provincial equivalent, along with personal identification, though a separate account is not required by law. A corporation provides its Certificate and Articles of Incorporation and its Canada Revenue Agency business number, plus identification for directors and signing officers. Some fintech and digital accounts open online in a day, while many bank accounts and all nonprofit accounts still need a branch visit. Non residents face more steps and often need Canadian registration. Confirm the current document list and process with the provider.

Steps to open a business account in Canada

Choose a provider and account that match your transaction volume, cash handling and any cross border payments.
Gather your documents: business registration or incorporation papers, your Canada Revenue Agency business number, and identification for owners and signing officers.
Apply online or at a branch, depending on the provider.
Complete identity checks, which some banks do in person.
Fund the account, then set up signing officers and any cards.

What documents you need

Sole proprietors

A sole proprietor usually shows business registration such as a Master Business Licence or the provincial equivalent, along with personal identification. A separate business account is not required by law, but it keeps records clean and makes tax filing simpler. Some providers open a sole proprietor account online.

Corporations

A corporation typically provides its Certificate and Articles of Incorporation, its Canada Revenue Agency business number, and identification for the directors and signing officers. Some banks also ask for a resolution naming who can operate the account. Requirements vary by bank, so confirm the current list.

Non residents

Opening as a non resident is harder. Banks often require the company to register as an extra provincial corporation or incorporate a Canadian subsidiary, and may ask a director or signing officer to complete identity checks in person at a branch, sometimes alongside a Canadian resident director. The exact position varies by bank and is unclear without checking, so verify with the provider.

How long it takes

Timelines range from the same day for some digital and fintech accounts, once your documents are ready, to a few weeks for complex structures or non resident applicants who must register a company or complete in person checks. As of 18 March 2026, confirm the current timeline with the provider, since it varies by bank and case.

Compare business accounts available in Canada

These providers accept business customers in Canada. Fees and eligibility shown as of 18 March 2026. Confirm current terms with the provider before applying.

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Questions about opening a business account in Canada

What do I need to open a business account in Canada?

A sole proprietor usually needs business registration such as a Master Business Licence or provincial equivalent and personal identification. A corporation needs its Certificate and Articles of Incorporation, its Canada Revenue Agency business number, and identification for directors and signing officers. Requirements vary by provider, so confirm the current list, as of 18 March 2026.

Can I open a business account online in Canada?

Some fintech and digital bank accounts let you apply and open online, often within a day once your documents are ready, while many bank accounts and nonprofit accounts still need a branch visit for identity checks. Confirm the process with the provider, as of 18 March 2026.

How long does it take to open a business account in Canada?

It ranges from the same day for some digital accounts to a few weeks for complex structures or non resident applicants who must register a company or complete in person checks. Timelines vary by bank and case, so confirm with the provider, as of 18 March 2026.

Can a non resident open a business account in Canada?

It is harder. Banks often require the company to register as an extra provincial corporation or incorporate a Canadian subsidiary, and may ask a director or signing officer to complete identity checks in person, sometimes with a Canadian resident director. The position varies by bank and is unclear without checking. Verify with the provider, as of 18 March 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 18 March 2026. Confirm current terms with the provider before applying.