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Published on: Jun 24, 2026

Partnership Firm Bank Account Opening

A Partnership Firm is an association of persons for the purpose of undertaking business for profit. Partnership firms can be registered or unregistered. Unregistered partnership firms can be established even though an oral contract or by entering into a written agreement. On the other hand, a registered partnership must be established through a Partnership Deed that is registered with the Registrar of Firms. In this article, we look at the process of opening the Partnership Firm Bank Account in India.

Partnership Firm KYC Norms

The Reserve Bank of India sets Know Your Customer (KYC) norms based on which documentation is collected by Banks for opening account. The RBI KYC norms layout the following standards for opening Partnership Firm bank account:

  • Registration certificate, if registered
  • Partnership deed
  • Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf;
  • Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses;
  • Telephone bill in the name of firm/partners

Documents Required for Opening Partnership Firm Bank Account

Based on the RBI's KYC norms, banks have introduced procedures and documents required to open a bank account for the partnership firm. The documents required are as under:

Basic Documents

  • Partnership Deed
  • PAN Card in the Name of the Partnership Firm
  • Address Proof of the Partnership Firm
  • Identity Proof of all Partners
  • Partnership Registration Certificate (if Registered Partnership)

First Entity Proof (Any one of the following documents)

  • Any certificate issued for registration/operations/Trade License/business by Local/ State/ Central Government/ Government Agency/ SEBI/ IRDA/ ICAI/ ICSI/ ICWAI/ Office of Registrar of Newspapers for India in the name of entity/firm. Eg: Sales Tax, TIN/ TAN etc.
  • APMC/ Mandi License/ Certificate
  • Labour License/Certificate
  • Professional Tax Registration Certificate
  • Trade Mark Registration Certificate
  • Liquor License/ Registration Certificate
  • Drug License
  • Registration Certificate issued by Excise & Customs Department.
  • License/ Certificate to Sell/ Stock/ Exhibit for Sale or Distribute Insecticide/Pesticide
  • Registration Certificate issued under Weight & Measurement Act
  • Police Department Permission/License/Certificate
  • Regional Transport Office Permit/Registration Certificate
  • Consent to Operate document issued by State/Central Pollution Control Board
  • Sales Tax Registration Certificate/ TIN Certificate/ GST certificate/ TAN certificate.
  • Valid Shops & Establishment Certificate/ Trade License. Validity can be extended up to the grace period for renewal as mentioned in such certificate.
  • Certificate Issued by SEZ, STP, EHTP, DTA and EPZ in the name of the entity mentioning the address allotted.
  • Importer–Exporter Code Certificate along with PAN Card (if PAN is quoted on the IEC Certificate).
  • Gram Panchayat Certificate (should be on letterhead and not more than 3 months old).
  • Trade License in the name of the entity.
  • District Industries Center (DIC)/ Small Scale Industries (SSI) Certificate – Acknowledgment Part -II issued by DIC/ SSI containing Entrepreneur’s Memorandum Number. Duly stamped and signed by issuing authority.
  • Factory Registration Certificate in the name of the entity.
  • SEBI Registration Certificate in the name of the entity.
  • Certificate of enlistment/license/shop allotment letter issued by Municipal Corporation (Kolkatta, Ludhiana and others).
  • Shops & Establishment Certificate issued by E-Seva Kendra’s (Andhra Pradesh). Receipt issued only by Municipal Corporation of Hyderabad (MCH) to be accepted along with Shops & Establishment Certificate.
  • The Shops and Establishment Certificate issued by the Municipal Corporations in West Bengal are valid till March 31 every year.

Second Entity Proof (Any one of the following documents)

  • Registration of firm with Employee Provident Fund Organization.
  • Registration of firm with Employee State Insurance Corporation.
  • Letter or Certificate (should be on letterhead and not more than 3-month-old) confirming existence of business issued by Chairman/ President/ CEO/ Head of the Nagar Panchayat/ Parishad, and not by local councillors/ corporators
  • Complete Sales tax return in the name of the firm duly acknowledged. Note: The portion of the sales tax return showing the name of the firm should be duly acknowledged by the accepting authority
  • Last available Income/ Wealth Tax Assessment order in the name of the firm.
  • The latest copy of Electricity Bill, not more than 3 months old.
  • The latest copy of Telephone Bill from Telecom operator, not more than 3 months old.
  • Certificate issued by Municipal Corporation/ Local Self Government Bodies confirming the address of the firm.
  • A true copy of gas connection book in the name of the entity along with the latest gas receipt, not more than 3 months old or Gas bill in case of pipe connection.
  • Water Tax bill paid to Municipal Body/ Corporations, not more than 6 months old along with the Tax receipt should stand in the name of the firm.
  • Property Tax bill should not be more than calendar one year old from the bill issuance date along with Tax receipts for property tax paid to Municipal Body / Corporations. The Tax receipt should stand in the name of the firm.
  • Certificate of Verification issued under Weight & Measurement Act–This document will not be considered if Registration Certificate issued under the same act has been taken as 1st entity proof document.
Back to Learn

Frequently Asked Questions

Common questions about Partnership Firm Bank Account Opening in India.

A Partnership Firm is an association of two or more persons who come together to carry on a business with the objective of making profits. It can be registered or unregistered, with a registered Partnership Firm being established through a Partnership Deed registered with the Registrar of Firms.
The key documents required to open a Partnership Firm Bank Account include the Partnership Deed, PAN Card in the name of the Partnership Firm, address proof of the firm, identity proof of all partners, Partnership Registration Certificate (if registered), and entity proof documents like trade licenses, professional tax registration certificates, or certificates issued by government agencies.
A Partnership Deed is a crucial document as it outlines the terms and conditions of the partnership, including the profit-sharing ratio, powers and responsibilities of partners, and other essential details. Banks require this document to verify the authenticity of the partnership and the authorized signatories for operating the bank account.
The Partnership Registration Certificate is issued by the Registrar of Firms and serves as proof that the partnership is legally registered. While it is not mandatory for all partnerships to be registered, banks may prefer opening accounts for registered partnerships as it provides greater legal enforceability and credibility.
Yes, a Partnership Firm Bank Account can be opened without all partners being present, provided that the partners present have been granted the necessary Power of Attorney by the other partners to open and operate the bank account on behalf of the firm.
Entity proof documents, such as trade licenses, professional tax registration certificates, or certificates issued by government agencies, serve as evidence to establish the existence and legitimacy of the business entity. Banks require these documents to comply with Know Your Customer (KYC) norms and prevent potential misuse of banking channels for illicit activities.
While the article does not explicitly mention specific address proof documents, banks generally accept documents like utility bills (electricity, telephone, or gas), property tax receipts, or municipal corporation certificates as valid address proof for the partnership firm.
Yes, an unregistered Partnership Firm can open a bank account. However, banks may scrutinize the documentation more closely and may require additional documents or clarifications to establish the legitimacy of the partnership and its operations.
Yes, it is mandatory for a Partnership Firm to have a separate PAN Card in the name of the firm. This PAN Card is used for filing tax returns, making business transactions, and other financial dealings related to the partnership.
While the RBI's KYC norms provide a general framework for the documents required, individual banks may have slight variations in their specific requirements or additional documents they may seek based on their internal policies and risk assessment procedures. It is advisable to check with the bank directly for their updated list of required documents.