Corporate Bank Account
Not every banking plan is created equal. Our team is ready to advise you on the best choice for your business needs.
We’ve partnered with banking institutions that offer secure and convenient digital banking services in addition to excellent customer service. They can even offer door-step service to help you set up your 1st bank account!
What is a Corporate Bank Account?
A bank account created in the name of a business and used to receive and manage all company funds. Opening a corporate bank account is a necessary step for any company to do business.
Benefits of Having A Corporate Bank Account
Just to show why you must have one here in Malaysia!
Credibility
Protection
Clarity
Flexibility
What To Look For In Choosing The Right Bank To Start?
Doorstep Service
The bank sends a relationship manager to meet with you to open your 1st bank account.
Digital Banking
Any transactions you would like to manage can also be done from your phone or laptop anywhere in the world.
Manageable Minimum Startup Funds & Deposit Requirements
A good bank will understand and accommodate your financial situation to help you get started.
Credit Facilities and
Loans
Whether you have hit a rough patch or it’s time to grow the business, your bank has your back. Our Partners
Frequently Asked Questions
Effectively, yes. While not a legal requirement, the benefits offered by a corporate bank account and the severe limitations of not having one means that a company cannot operate effectively without one.
Anywhere from 2 - 3 weeks for standard cases, though it can go up to several months if it involves complex situation.
MISHU's experienced team can help solve any issues that could otherwise delay your account opening.
*Company Constitution
*Resolution from the Board of Directors to open the account with complete list of authorised signatories
*Certificate of incorporation (section 17)
*Return of allotment of shares (section 78)
*List of directors (section 58)
*Registered office address (section 46) As part of MISHU's incorporation package, our team can compile and provide all the relevant documentation to help you open your account.
Absolutely. However, certain banks may require you to perform some additional KYC checks and need you to nominate a local representative to handle the paperwork.
It is a feature where the bank sends their relationship manager to come and meet you physically at your office/home for account opening, form signing and KYC checks.
It varies from bank to bank, though the average starting amount is usually RM 1,000.
While not as necessary, having a separate bank account for business funds provides sole proprietorships and partnerships with the same benefits as companies, and it is therefore highly advisable for these businesses to create one as well.
Got an URGENT question?
Contact us via [email protected] or call +6011-12037291