Corporate Bank Account Opening Assistance
A corporate or business bank account is essential for managing financial transactions, receiving income, storing funds, remitting contributions, and ensuring compliance. While “corporate account” typically applies to medium or large corporations, a “business account” is more suited for sole proprietorships and partnerships.
Opening a corporate bank account in the Philippines is a crucial step for businesses, and as a service provider, we streamline this process for our clients.
Pre-Application Preparation
We assist you in gathering all necessary documents such as the company’s Articles of Incorporation, SEC Registration, Tax Identification Number (TIN), business permits, and valid identification of authorized signatories.
Application Submission
Once the documentation is in order, we help you complete and submit the bank’s corporate account application forms. Our team ensures that all forms are accurately filled out to avoid delays.
Verification and Evaluation
We work closely with the bank during the verification process, where they assess your company’s legitimacy and review the submitted documents.
Account Opening and Initial Deposit
After the bank evaluates the documents, we facilitate the opening of the account and help you make the required initial deposit. This is a necessary step to activate the account and start using it for business transactions.
Setting Up Online Banking
Once the account is open, we provide you with the account details and assist you in setting up online banking for easier management. We ensure that you can efficiently monitor and manage your finances from anywhere.
Get Your Corporate Bank Account Open in Record Time!
Opening a corporate bank account doesn’t have to be a time-consuming task. We handle all the documentation and legal requirements and work closely with our partner banks to ensure the process is completed quickly and without any delays.
Access to Key
Banking Partners
We have established relationships with major Philippine banks, giving your business direct access to trusted banking institutions.
Compliance
Assurance
We ensure your business adheres to all Philippine regulations, minimizing the risk of delays or rejections from financial institutions.
Faster Processing
Our experience with Philippine banks helps expedite the account opening process, saving your business valuable time.
End-to-End Support
From document preparation to account activation, we guide your business through each step of opening a corporate bank account in the Philippines.
If you’re a foreign investor or business entity looking to expand operations, this guide provides valuable insights into key sectors for your investment: Foreign Investment in the Philippines.
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Ready to Open Your Corporate Bank Account?
Speed up your Corporate Bank Account Opening! We manage all the paperwork and coordinate with our partner banks to get it done.
Corporate Bank Account Opening FAQs
What are the requirements for opening a Corporate Bank Account in the Philippines?
You’ll need a business registration certificate (e.g., SEC, DTI), Articles of Incorporation, valid IDs of company directors, proof of business address, and possibly a tax identification number (TIN) or other relevant documents.
Is a Philippine business license required to open a Corporate Account?
Yes, a valid business license or registration with the Securities and Exchange Commission (SEC) or Department of Trade and Industry (DTI) is necessary to open a corporate account.
Can foreign-owned businesses open a Corporate Bank Account in the Philippines?
Yes, foreign-owned businesses can open corporate bank accounts, but they must comply with local regulations, including having a Filipino resident director or nominee if required.
How long does it take to open a Corporate Bank Account in the Philippines?
Typically, it takes 5 to 10 business days, depending on the bank and the completeness of your documentation.
Is there a minimum deposit amount?
Yes, most banks require a minimum initial deposit, which varies by bank and account type. It typically ranges from PHP 5,000 to PHP 50,000.
What types of Corporate Bank Accounts are available?
Options include checking accounts, savings accounts, and specialized business accounts such as payroll or escrow accounts, each with different features and requirements.
