{"id":8255,"count":1,"description":"Talk to our Expert Team \u2013 Call +91 72999 72500<\/strong><\/span>\r\n

Many new companies<\/a> in India are formed with Non-Resident Indian (NRI) shareholders or directors. After incorporation, opening a company bank account is an important next step to start business operations. When NRIs are involved, banks follow stricter checks to meet Reserve Bank of India (RBI) and Anti-Money Laundering (AML) rules. Understanding the KYC (Know Your Customer) and UBO (Ultimate Beneficial Owner) requirements in advance can help you avoid delays and complete the process smoothly.<\/p>\r\n

A company with NRI shareholders or directors<\/a> can open a bank account in India by providing the incorporation documents, board resolution, and KYC proofs of all directors and shareholders. The bank will also collect details of the Ultimate Beneficial Owner, which generally means the person who ultimately controls or owns more than 10% of the company. The NRI directors or shareholders need to submit passport copies, overseas address proof, and Indian PAN if available. All foreign documents must be notarised or apostilled to meet Indian banking standards.<\/p>\r\n

When NRIs are part of a company, banks carefully verify their identity and source of investment. KYC is the process where the bank confirms the names, addresses, and identification of all directors and shareholders. For NRIs, this includes a valid passport, overseas residence proof such as a utility bill or driving license, and a recent photograph. Some banks may ask for a visa copy or Indian PAN if the NRI plans to operate the account directly. UBO requirements ensure transparency by identifying the real owners behind the company. If a shareholder holds more than 10% shares, their details like passport, nationality, and source of funds must be declared. FilingPoint helps in preparing these documents correctly so the bank can approve the account without repeated queries.<\/p>\r\n

Checklist for company bank account opening with NRI involvement:
\u2022 Certificate of Incorporation, PAN of the company, and MOA\/AOA.
\u2022 Board Resolution authorising account opening and naming authorised signatories.
\u2022 KYC of all directors including passport, address proof, and photographs.
\u2022 Notarised or apostilled passport and overseas address proof for NRI directors\/shareholders.
\u2022 Declaration of Ultimate Beneficial Owner with shareholding details.
\u2022 RBI compliance documents if foreign investment is involved.
\u2022 Bank-specific application forms and initial cheque deposit.<\/p>\r\n

\u2753 Can an NRI be the sole director for opening a company bank account?
\ud83d\udc49 No, at least one resident Indian director is required for company incorporation and banking.<\/p>\r\n

\u2753 Do NRIs need a PAN to open a company account?
\ud83d\udc49 A company PAN is mandatory, but individual PAN for NRI directors is optional unless they are signatories or drawing salary.<\/p>\r\n

\u2753 How long does bank account opening take?
\ud83d\udc49 Normally 5\u20137 working days after submission of all notarised or apostilled documents.<\/p>\r\n

Talk to our Expert Team \u2013 Call +91 72999 72500<\/strong><\/span>\r\n\r\nWant to open a company bank account without confusion? FilingPoint.com<\/a> assists with document preparation, KYC compliance, and UBO declarations for smooth and quick bank approval. Contact us for a Free Checklist and a Free Call with our expert Chartered Accountant today.<\/p>","link":"https:\/\/filingpoint.com\/consultants\/india\/how-to-open-a-company-bank-account-with-nri-shareholders-or-directors-and-what-are-kyc-and-ubo-requirements\/","name":"How to open a company bank account with NRI shareholders or directors and what are KYC and UBO requirements?","slug":"how-to-open-a-company-bank-account-with-nri-shareholders-or-directors-and-what-are-kyc-and-ubo-requirements","taxonomy":"post_tag","meta":[],"yoast_head":"\nHow to open a company bank account with NRI shareholders or directors and what are KYC and UBO requirements? - Best Company Registration | Tax Filing Services in Chennai, India<\/title>\n<meta name=\"description\" content=\"Call Filing Point 72999-72500. The Best Company Registration, GST, ROC Filing Consultants. 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