Requirements and documents in India

Snapshot

To open a business account in India you generally need the company PAN, the registration documents for your entity, a board resolution naming the signatories, proof of business address, and identity and address proof for each signatory. A current account for a company cannot be opened without the company PAN. GST registration is needed only where the business falls under the GST rules.

Anchor document: Company PAN, required to open a company current account
Company documents: Certificate of incorporation, memorandum and articles, board resolution
Identity: PAN and an officially valid document such as Aadhaar for each signatory
GST registration: Needed only where the business falls under the GST rules

Fees and features as of 17 March 2026Last reviewed 17 March 2026

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

As of 17 March 2026, opening a business account in India centres on the company PAN and clear ownership. Banks ask for the company PAN, the registration documents for your entity, a board resolution that names the signatories, proof of business address, and identity and address proof for each signatory. A current account for a company cannot be opened without the company PAN, and GST registration is needed only where the business falls under the GST rules. Confirm the current requirements with the bank.

What banks ask for in India

Account opening in India is built around proof that the business is genuine, properly registered, and clearly owned. The company PAN is the anchor for a company, and the registration documents establish the entity and its ownership. As of 17 March 2026, banks review these documents alongside identity records for everyone connected to the business, and they assess the business activity. The precise list depends on whether the business is a sole proprietorship, a partnership, a limited liability partnership, or a private limited company. Verify the list with the bank.

Company documents

A private limited company usually provides the certificate of incorporation, the company PAN, the memorandum and articles of association, and a board resolution that authorises the account and names the signatories. A limited liability partnership provides the incorporation certificate and the partnership agreement, while a partnership firm provides the partnership deed. Proof of business address is needed in each case. As of 17 March 2026. Verify the list with the bank.

People and ownership

Banks verify each director, partner, beneficial owner, and authorised signatory. This generally means personal PAN and an officially valid document such as Aadhaar or a passport for each, along with recent proof of address. For companies with foreign ownership, expect added checks and documents under the Foreign Exchange Management Act. As of 17 March 2026.

Activity and source of funds

Banks also assess the business model, the expected turnover, and the source of funds. Unclear business descriptions or complex ownership can slow an application. Preparing clear activity details and supporting evidence helps. Confirm what the bank needs before you apply.

What to check before you apply

Before starting an application in India, check these points, as of 17 March 2026. Verify with the bank

That the company PAN and all registration documents are current and consistent with each other.
That you have the board resolution and the correct documents for your entity type, whether company, limited liability partnership, partnership, or sole proprietorship.
That identity, address, and business proof are recent and complete for every signatory and owner.

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Questions about requirements and documents in India

What documents are required to open a business account in India?

Banks generally ask for the company PAN, the certificate of incorporation, the memorandum and articles of association, a board resolution naming the signatories, proof of business address, and identity and address proof for each signatory such as PAN and Aadhaar. The list depends on the entity type, so confirm with the bank, as of 17 March 2026.

Can I open a current account without a PAN?

No for a company. A current account for a company cannot be opened without the company PAN, since the PAN identifies the business. Sole proprietors also provide business proof and personal PAN. Confirm the requirement with the bank, as of 17 March 2026.

Is GST registration mandatory for a current account?

Not always. GST registration is needed only where the business falls under the GST rules, and banks accept other business proof where it does not apply. A GST certificate can still serve as useful evidence of the business. Confirm what your bank accepts, as of 17 March 2026.

What does a sole proprietor need to open a business account?

A sole proprietor usually provides personal PAN and Aadhaar, plus two pieces of business proof such as a GST certificate, a shop and establishment licence, or a registration certificate, along with proof of business address. The exact combination varies by bank, so confirm before applying, as of 17 March 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 17 March 2026. Confirm current terms with the provider before applying.