Business Bank Account Opening

Operating your business as a company separate from our personal affairs has many advantages. Opening a business bank account is an important step when starting a new business. By separating your business account from your personal account, you can be better organized and keep track of your finances more easily. Opening an account takes only a few minutes, but it’s important to be prepared and know what kind of account you should get, where you should get it, and what documents you’ll need.

The documents you need to open a business bank account in South Africa depend largely on the type of business structure you have. 

It’s crucial that you know in advance what documents you need to email us, so call ahead to check. Typically you’ll need to provide us with the following:

-Proof of CIPC registration of your business – this might be a simple certificate or multiple documents depending on the business structure
-Valid ID/Passport documents for the business owner and any other signatories on the account
-Proof of address for either the owner (sole proprietors) or the business. Usually utility bills or similar documents are sufficient.

Personal Bank Account Opening

What you will need:

  • South African ID book or valid passport with the relevant study/work permit
    Note: Green barcoded ID book or smartcards only
  • Proof of residence
    Note: Utility bills or a bank-letter completed by your landlord, local chief or councillor

Who can open a bank account in South Africa?

  • South African citizens
  • Foreign nationals living in South Africa