Complete beginners guide for 2021 showing how to open a business bank account in Zambia. We have written this article to help those in need of ways on how to open a business bank account in Zambia. What’s your preferable best bank? . Check on how to open your FNB account and standard chartered bank. You might also be interested in learning about businesses in Zambia, money and getting started. Business bank accounts can be interest bearing and depending on the banking regulations, you can benefit more. Below are documents you need to open a business account, and important business account opening requirements.
Today whether running a businesses, probably maybe just discovered ways of making money online. Business accounts are important especially if you have more clients for your business. It shows some levels of seriousness, brand importance and just makes it easy for incoming transactions. You need these important business account opening requirements to have your account activated.
Also Read: How to open a Dollar Account in Zambia
10 Business account opening requirements in Zambia
- Collect account opening form: Just like any other account you’re requested to collect or download forms online. Fill in the important details and submit.
- Company profile: Businesses required to provide the company profile that shows what the company is about and daily activities for that business.
- Certificate of business ownership: You’re to provide documents that show you own the business, type of company, either sole trader or partnership and signatures of parties involved.
- ZRA Tax form: Proof of paying taxes needed for business account opening to give the bank a better understand of your income, its source and annual net revenue.
- PACRA documents: Company registration proof must be provide. This includes for a private limited company or just a business.
- Identification documents (NRC or passport): National registration card needed for local based company owners or passport for foreign Nationals doing business in the country.
- Passport size photos: Depending on the type of business, you’re to provide identification photos showing business account holders.
- A study permit or a work permit. (Optional)
- Current Address confirmation: Its a requirement to provide address for your business and P.O Box
- Deposit Money: Finally make a first deposit on any branch near you or ATM to activate the account.
Business banking and investment banking in Zambia being offered by most banks. Gives most Small businesses an advantage for a variety of services that help them to be established. Business banking, gives access to loans and make it easier for businesses to grow. Its a key profit center for most banks, one of the basic functions of local banks, been to benefits local business as well both in the short and long run through business banking.