Bank Account Opening for Indian Subsidiary
Bank Account Opening is one of the most important steps after Indian subsidiary incorporation. A current account allows the company to receive capital, collect customer payments, pay vendors, manage payroll, and conduct business transactions in India. IndiaFilings helps Indian subsidiaries prepare the required documents and coordinate the Bank Account Opening process.
Why an Indian Subsidiary Needs a Bank Account
- To receive foreign investment from the parent company
- To make business payments in India
- To collect revenue from Indian customers
- To pay salaries, vendors, rent, and taxes
- To maintain proper accounting and audit records
Common Documents Required
- Certificate of Incorporation
- Company PAN
- MOA and AOA
- Board resolution for account opening
- KYC documents of directors and authorised signatories
- Registered office proof
Bank Account Opening Process
- Complete Indian subsidiary registration
- Prepare board resolution and KYC documents
- Submit application to the selected bank
- Complete verification and approval
- Activate account for business transactions
Related Services
Before opening a bank account, ensure the company has PAN and TAN. If the company will receive foreign investment, review FDI compliance and RBI compliance. IndiaFilings helps with company registration, banking, tax, and compliance support.
