Opening a business bank account

General information only. Each bank sets its own requirements and fees, and anti-money laundering rules mean banks may ask for more. Call your bank before you go. We do not recommend any particular bank.

What banks typically ask for

Banks ask for proof of identity, address, tax number and proof that the business is registered. The exact list depends on the bank and on whether you are a sole trader, a partnership or a company. Typical items include:

Sole trader

• National ID, passport or driver's licence
• Proof of address for the owner, and for the business if different
• Proof of income: a one-year cash flow for a new business, or last year's financial statements
• TIN (and VAT certificate if registered)
• Business registration certificate, if registered
• Any licences or permits that apply

Partnership

• ID, proof of address and TIN for each partner and signatory
• Proof of address and TIN for the business, and an outline of budgeted income
• The partnership agreement and a resolution to open the account with signing instructions

Company

• Certificate and Articles of Incorporation, Notices of Secretary, Directors and Registered Address
• Proof of the company's address
• Last year's audited financial statements, or a one-year cash flow projection for a new company
• TIN (and VAT certificate if registered)
• Beneficial ownership information (for example the latest annual return or the bank's own form)
• ID, proof of address and TIN for every director and signatory, and ID and proof of address for every owner of 25% or more

Fees and extra documents differ from bank to bank. Call the bank before you go.

Tips

• Get your TIN and DCRA certificate first. They are usually on the lists banks publish.
• Keep certified copies of company documents. DCRA can issue copies for a fee (see Business name or company).
• The Bank of Guyana is the central bank and supervises licensed banks ^[1].