Consulting on procedures for opening bank accounts for newly established businesses

Article overview

Opening a bank account for business contributes to establishing and developing business activities. To ensure the process goes smoothly, businesses need to clearly understand the necessary procedures and requirements. This article will provide detailed step-by-step instructions, helping newly established businesses quickly complete procedures and effectively exploit financial services, contributing to the sustainable development of the business.

Open a bank account for a new business
Open a bank account for a new business

Conditions for opening a bank account for newly established businesses

Pursuant to Clause 2, Article 11 of Circular 17/2024/TT-NHNN, conditions for opening a bank account for newly established businesses include:

  • Subjects to opening payment accounts: organizations that are legal entities (Vietnamese legal entities, foreign legal entities), private enterprises, business households and other organizations.
  • Have all documents and records as prescribed in Article 12 of this Circular.
Conditions for opening accounts for new businesses
Conditions for opening accounts for new businesses

Procedures for opening a bank account for newly established businesses

Profile components

Pursuant to Clause 1, Clause 3, Article 12, Circular 17/2024/TT-NHNN, documents to open a bank account for businesses include:

  1. Agreement to open and use payment account;
  2. Documents, information and data of the legal representative:
  • In case the individual is a Vietnamese citizen: Citizen identification card, Identity card or Electronic identification card or Identity card or Birth certificate for people under 14 years old;
  • In case the individual is of Vietnamese origin whose nationality has not been determined: Certificate of identification;
  • In case the individual is a foreigner: Passport, for foreigners residing in Vietnam, must have an entry visa or a valid document in lieu of a visa or documents proving exemption from entry visa; or Electronic Identity.

Execution order

The process of opening a bank account for a business is carried out according to the following steps:

Step 1: Choose a suitable bank, evaluate service quality.

Step 2: Prepare and submit documents as required.

Step 3: The bank checks, compares and verifies customer identification information, the bank and foreign bank branch performs:

  • In case the documents, information and data are complete, accurate and legal, the bank will provide the customer with the agreement to open and use a payment account.
  • In case the documents, information, data are incomplete, inaccurate or do not match, the bank notifies the customer to check, complete the dossier or refuse to open a payment account and clearly state the reason let customers know;
  • In case a customer is detected using fake or illegal documents, information or data or the customer is on the Black List according to anti-money laundering laws, the bank reports to the competent authority and handled according to regulations.

Step 4: The bank opens a savings account and notifies the customer

After the customer agrees with the contents of the agreement to open and use the payment account, the bank opens the payment account and notifies the customer of the payment account number, name, and starting date. payment account activity.

Benefits of using consulting services to open a bank account for newly established businesses

Bank account opening consulting services bring practical value to businesses through optimizing time and resources. Consulting experts will accompany businesses from preparing documents to completing procedures. This process brings many specific benefits to businesses.

  • Save time and costs;
  • Receive in-depth advice on choosing a suitable account package with optimal costs for each type of business;
  • Ensure eligibility to avoid the risk of application rejection or additional requests and receive in-depth advice on related tax obligations;
  • Analyze and advise on the pros and cons of choosing a bank;
  • Manage and anticipate risks when opening a bank account for a business, and when using it.

Using consulting services to open a bank account not only helps businesses save time and costs but also ensures a smooth implementation process, in accordance with legal regulations. This allows businesses to focus on their business operations.

Benefits of using specialized support services
Benefits of using specialized support services

Consulting and support services for opening bank accounts for newly established businesses in Long Phan

With a team of experienced experts in consulting and in-depth support for businesses in the field of opening business accounts, Long Phan believes that it will bring customers professional support and consulting services most professional and effective.

Long Phan provides consulting services for opening bank accounts for businesses including:

  • In-depth consulting on choosing account opening service packages that best suit customers’ practical needs;
  • Support reviewing and preparing documents for bank account opening activities;
  • Representing customers to submit applications and work with banks to open accounts, ensuring the highest efficiency;
  • Advise and support customers on tax obligations related to business activities;
  • Estimate and propose solutions to risks arising during business operations.

Using professional consulting services will help businesses manage finances effectively, facilitate transactions and enhance reputation in the eyes of partners. Long Phan supports customers in carrying out procedures for opening bank accounts for businesses quickly, and accurately. For detailed advice on the service, please contact Long Phan via hotline: 0906735386.