Q. Is there any physical existence is necessary for opening a bank account in india?
A. There is no physical existence is necessary for opening a bank account in India.
Q. In how many days bank Account needs to be open in India after incorporation of company?
A. Pursuant to Section 10A(1)(a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014, every company need to file INC-20A for Subscribers proof of payment for value of shares within 180 days of incorporation . Therefore company needs to open a bank account
Q. Explain the documents required to open a Bank Account in India by various entities?
A. KYC guidelines for Liaison/ Representative office/ Project office/ Branch office Accounts:
Note: If COI and company formation documents are in any language other than English, then the English version of the COI or company formation documents must be attested by the Indian Embassy/ notary public in the country of registration.
Note: In case of foreign nationals, a copy of passport (attested by the customer) is required and the signature on the Customer Information Updation Form should be verified by a foreign notary public/ Consulate General/ Indian Embassy.
KYC guidelines for Companies: