Opening a corporate account
In order to distinguish a company account from other types of business accounts, it makes sense to take a look at the requirements for opening a company account. The main feature of a corporate bank account is that it can only be opened by a decision of the board of directors. In contrast, a regular commercial bank account can be opened by an owner or other non-voting person as long as that person is authorized to sign the paperwork. Typically, a corporate bank account is opened by the Treasurer of the Board of Directors upon the submission of a corporate resolution authorizing him or her to perform this duty.

Required documents for opening a corporate bank account
Opening a corporate bank account is straightforward and relatively easy; However, you must take into account all of the bank's specifications and required documents, which can vary significantly from country to country. However, there are a number of documents that are an essential part of the process of opening a corporate bank account that are undoubtedly required regardless of the bank. These are the most commonly required documents:

Completed corporate account application form signed by the authorized signatories as determined by the Board of Directors
Excerpt from the board resolution approving the opening of the company bank account
Documents confirming the authority to open and maintain the company's bank account - e.g. Executive Board resolution, power of attorney, extract from the commercial register, etc.
An original or a certified copy of the company's incorporation documents, ie. H. the memorandum of association, the articles of incorporation and the articles of incorporation
Identification documents for the company's directors, principal shareholders and authorized signatories - this list may be extended to include the beneficial owners of company shares
Sample signatures of the authorized signatories
Additional documents may be required depending on country and government regulations related to risk factors and compliance requirements. These may include a director's statement containing personal information about directors and principal shareholders (a person authorized to exercise 10% or more of the voting rights of the shareholders), a business plan or audited financial statements as proof of business, a certified copy of an organizational chart showing each shareholder's ownership percentage and details of ultimate beneficial owners for nominee shareholders.