Friday March 22,2019

Documents Required for Corporate Accounts

Proprietorship firms

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration
  • Certificate of Permanent Account Number (PAN)
  • Audited financials of last financial year
  • Power of attorney (for appointment of account operators other than proprietor
  • Citizenship/Passports of proprietor and account operators
  • Passport size photographs of proprietor and account operators
  • Duly filled Personal Information Particulars of proprietor and account operators
  • Operating licenses (applicable as per nature of business)

Additional document for FCY account

NRB FCY license or Custom documents (eG;f/ k|1fkg kq) evidencing export of goods (≥USD 1,000) last financial year; as specified by prevailing foreign exchange regulation.

Exemption of audited financials: Declaration by the firm's proprietor if the firm is not required to prepare/submit audited financials as per law.

Note: Original documents must be presented for verification by bank officials.

Partnership firms

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration
  • Certificate of Permanent Account Number (PAN)
  • Partnership deed
  • Audited financials of last financial year
  • Power of attorney (for appointment of account operators other than partners)
  • Power of Attorney given by partners for financial and administrative operations if partner is a legal entity.
  • Citizenship/Passports of partners and account operators
  • Passport size photographs of partners and account operators
  • Duly filled Personal Information Particulars of partners and account operators
  • Operating licenses (applicable as per nature of business)

Additional document for FCY account

NRB FCY permit or Custom documents (eG;f/ k|1fkg kq) evidencing export of goods (≥USD 1,000) last financial year; as specified by prevailing foreign exchange regulation.

Exemption of audited financials: Declaration by the firm's partners if the firm is not required to prepare/submit audited financials as per law.

Note: Original documents must be presented for verification by bank officials.

Limited liability companies incorporated in Nepal

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration/Incorporation
  • Certificate of Permanent Account Number (PAN)
  • Memorandum of Association, & Articles of Association
  • Amendments to Memorandum/Articles of Association, and Certificate of Incorporation to evidence changes in name, address, business purpose etc.,
  • Share registration log to evidence current composition of shareholders (in case of non-listed limited companies)
  • Audited financials of last financial year
  • Copy of board minute (or extract certified by Company Secretary in case of public limited companies) containing decision of Board of Directors
    • to operate account,
    • enjoy account services (as applicable),
    • appointment of account operators,
    • and account operating conditions (if any)
  • Power of attorney conferred by the board on Chief Executive and other executives to perform financial transactions.
  • Citizenship/Passports of Directors, Chief Executive and account operators
  • Passport size photographs of Directors, Chief Executive and account operators
  • Duly filled Personal Information Particulars of Directors, Chief Executive and account operators
  • Passport size photograph, citizenship/passport, and duly filled personal particulars of natural persons holding 10% or more shares of the company
  • Operating licenses (applicable as per nature of business)

Additional Document for Subsidiary of Foreign Companies

  1. Notarized Certificate of Incorporation of Parent Company
  2. Notarized Articles of Incorporation (or Memorandum & Articles of Association) of Parent Company
  3. Notarized document evidencing registered address of Parent Company

Additional document for FCY account

NRB FCY permit or Custom documents (eG;f/ k|1fkg kq) evidencing export of goods (≥USD 1,000) last financial year; as specified by prevailing foreign exchange regulation.

Exemption of certificate of incorporation: Certificate of Registration not required for institutions established under specific Act of Nepal

Note: Original documents must be presented for verification by bank officials. Copy documents received from foreign countries must be notarized.

Cooperatives, Clubs and Non-Government Organizations registered in Nepal

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration
  • Document evidencing change in address
  • Certificate of Permanent Account Number (PAN)
  • Constitution
  • Amendments to Constitution, and Certificate of Registration to evidence changes in name, address, purpose etc.,
  • Audited financials of last financial year
  • Copy of minute (or extract certified by Company Secretary in case of public limited companies) containing decision of Board of Directors/Working Committee
    • to open and operate account,
    • enjoy account services (as applicable),
    • appointment of account operators,
    • and account operating conditions (if any)
  • Power of attorney conferred by the board/committee on Chief Executive and other executives to perform financial transactions.
  • Citizenship/Passports of Directors/(Central) Working Committee members, Chief Executive and Account Operators
  • Passport size photographs of Directors/(Central) Working Committee members, Chief Executive and account operators
  • Duly filled Personal Information Particulars of Directors/(Central) Working Committee members, Chief Executive and account operators
  • Operating licenses (applicable as per nature of business)
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank

Public and Private Trusts

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration
  • Document evidencing change in address
  • Certificate of Permanent Account Number (PAN)
  • Constitution of the Trusts
  • Amendments to Constitution, and Certificate of Registration to evidence changes in name, address, purpose etc.
  • Deed of trust formation
  • Audited financials of last financial year
  • Copy of minute of board/management committee containing decision of Board of Directors
    • to open and operate account,
    • enjoy account services (as applicable),
    • appointment of account operators,
    • and account operating conditions (if any)
  • Power of attorney conferred by the board/Management Committee (MC) on Chief Executive and other executives to perform financial transactions.
  • Citizenship/Passports of Directors/MC members, Chief Executive and Account Operators
  • Passport size photographs of Directors, Chief Executive and account operators
  • Duly filled Personal Information Particulars of Directors/MC members, Chief Executive and account operators
  • Operating licenses (applicable as per nature of business)
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank

Schools and Colleges

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration/Approval to operate school/college
  • Certificate of Permanent Account Number (PAN)
  • Memorandum of Association & Articles of Association
  • Amendments to Memorandum/Articles of Association, and Certificate of Incorporation to evidence changes in name, address, business purpose etc.,
  • Audited financials of last financial year
  • Copy of board/Management Committee (MC) minute
    • to operate account,
    • enjoy account services (as applicable),
    • appointment of account operators,
    • and account operating conditions (if any)
  • Power of attorney conferred by the board on Chief Executive and other executives to perform financial transactions.
  • Citizenship/Passports of Directors/MC members, Chief Executive and account operators
  • Passport size photographs of Directors/MC members, Chief Executive and account operators
  • Duly filled Personal Information Particulars of Directors/MC members, Chief Executive and account operators
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank

Note: Original documents must be presented for verification by bank officials.

International Non-Government Organizations

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any)
  • Certificate of Registration
  • Document evidencing change in address (as applicable)
  • Certificate of Permanent Account Number (PAN)
  • Constitution
  • Amendments to Constitution, and Certificate of Registration to evidence changes in name, address, purpose etc.,
  • Audited financials of last financial year
  • Copy of minute (or extract certified containing decision of Board of Directors
    • to open and operate account,
    • enjoy account services (as applicable),
    • appointment of account operators,
    • and account operating conditions (if any)
  • Citizenship/Passports of Directors, Chief Executive, executive representative appointed for Nepal and Account Operators
  • Passport size photographs of Directors, Chief Executive, Executive representative for Nepal and account operators
  • Duly filled Personal Information Particulars of Directors, Chief Executive, Executive Representative and account operators
  • Agreement with Government of Nepal (GON) or Social Welfare Council (if any) or Recommendation from government or Embassy of concerned country
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank

Note: Original documents must be presented for verification by bank officials. Copy documents received from foreign countries must be notarized.

Foreign Companies

  • Duly filled account opening application form
  • Covering letter instructing the bank to open account with specific instructions (if any) signed by Chief Executive/President
  • Power of attorney given to the executive representatives and others to operate accounts and perform financial transactions signed by Chief Executive/President.
  • Certificate of Registration/Incorporation
  • Documents evidencing current registered address and address in Nepal, number and addresses of major branches/offices of the company
  • Certificate of Tax Registration certificate of foreign company
  • Certificate of Incorporation in Nepal
  • Tax registration certificate in Nepal (PAN certificate)
  • Memorandum of Association & Articles of Association (or Articles of Incorporation)
  • Audited financials of last financial year
  • Personal details of directors and Chief Executive of foreign company: Name, Designation, telephone number/mobile number, and email address
  • Duly filled Personal Information Particulars of executive representatives and account operators in Nepal
  • Citizenship/Passport, passport size photographs, and documents revealing addresses: of Two executives (Chief Executive and second in command) of the foreign company, executive representative in Nepal and account operators.
  • Passport size photograph, citizenship/passport, and duly filled personal particulars of natural persons holding 10% or more shares of the foreign company
  • Operating licenses (applicable as per nature of business)
  • Agreement with Government, its agencies, or autonomous agencies (as applicable)
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank

Note: Original documents must be presented for verification by bank officials. Copy documents received from foreign countries must be notarized.

Diplomatic Missions/Embassies

  • Duly filled account opening application form
  • Official covering letter from the mission/embassy
  • Power of Attorney for account operation
  • Citizenship/Passport, passport sized photographs and documents revealing addresses of Account Operators
  • Duly filled personal particulars of Account Operators

Government Agencies, Organizations formed under special laws of Nepal, Businesses owned by Government

  • Duly filled account opening application form
  • Official covering letter to open and operate account with special instructions if any.
  • Passport/Citizenship and Passport size photographs of Account Operators
  • Duly filled Personal Particulars of Account Operators
  • Document evidencing decision/authorization to operate account and power of attorney to account operators: as per the Acts, Constitution, financial and administrative bylaws governing the organization.
  • For Foreign currency (FCY) account: Approval from Nepal Rastra Bank or as per prevailing FCY regulation of Nepal Rastra Bank