For the opening of bank account, different bank(s) will have different requirements and the format of resolution may vary from bank to bank also. You are advisable to visit Bank to understand the bank account opening requirements and procedures to save your hassle and time.
In our respect, we will assist you to prepare a resolution for the opening of bank account. As such, we require you to furnish the following information for preparation:-
- Bank’s name, branch and address.
- Type of account to open eg. current account, internet banking, foreign currency account etc.
- Sample / Format of resolution for the opening of bank account provided by the bank (if any).
- Type of company’s statutory documents required by the bank such as Form 9, Form 24, Form 49, Memorandum and Articles of Association etc.
- Details of Authorised signatories.
- Manner of operating the bank account such as sign solely or jointly etc.
All authorised signatories have to physically present at the bank to get signatures witness by the bank officer so as the bank can process your application and activate your bank account in a shorter time.
A newly incorporated company can proceed to open a bank account once the company obtains notice of registration from SSM. You are required to submit an application form for opening of bank account together with all relevant documents required by bank such as resolution authorising the opening of bank account, a copy of IC/passport and company’s statutory forms. You will have to obtain a copy of such application form the bank.
To expedite the bank account opening, you may get your signature verify by the bank officer prior to your company is incorporated. Please consult your banker as to whether this is allowable by the bank.
We recommended our clients to present in Malaysia to open a bank account to expedite the process of activation of the bank account. In a usual case, all banks in Malaysia require all the Directors/ Authorised Signatories to be physically present in their banks when signing of the official documentation at the time of opening of bank account. Nevertheless, some banks accept documents that are signed by a person and verify by their overseas counterpart. The banks will probably require additional documents for such and also depend on the case basis.
Please be noted that all banks in Malaysia will have to comply with stringent laws and regulations. They will conduct a thorough check and investigations on their potential clients before approving a new bank account for a company. This is not only to safeguard their risks against any potential default but also part of their regulatory compliance and stringent anti-money laundering policies. The bank reserves their right as to whether to approve your request.