Registering your Private Limited (Pvt. Ltd.) company at the Office of the Company Registrar (OCR) is only half the battle. To actually start operations, pay employees, and accept client payments, you need a corporate bank account.
In Nepal, the banking sector is strictly regulated by Nepal Rastra Bank (NRB). Here is the definitive guide on how to navigate the process in 2026.
Essential Documents Checklist
Banks in Nepal require a "Certified True Copy" of your company documents. Ensure you have the following:
Company Registration Certificate: The original certificate issued by the OCR.
MOA & AOA (Prabandha Patra & नियमावली): The foundational legal documents of your company.
PAN/VAT Certificate: Issued by the Inland Revenue Department (IRD).
Board Resolution: A formal minute from your Board of Directors (see section 3).
Identification of Directors: Citizenship copies and passport-sized photos of all directors.
Rent Agreement: Some banks may ask for a copy of your office lease agreement.
Choosing the Right Bank
In Nepal, you generally want to open an account with a Class 'A' Commercial Bank. Popular choices for corporate banking include:
Bank | Key Feature for Pvt. Ltd. |
Nabil Bank | Excellent digital portal and trade finance. |
NIC Asia Bank | Wide branch network and aggressive SME support. |
Nepal Investment Mega Bank | Strong for large-scale corporate handling. |
Standard Chartered | Ideal if you handle frequent international transfers. |
Drafting the Board Resolution
This is where most new companies get stuck. The bank needs a formal document signed by the Board of Directors that explicitly states:
The decision to open an account at [Bank Name], [Branch].
The names of the Authorized Signatories (who can sign cheques).
The Signing Authority (e.g., "Any one director" or "Jointly by two directors").
Pro Tip: Ask the bank for their specific "Board Resolution Template" before your meeting. Most banks provide a pre-printed format to save you time.
The Step-by-Step Process
Step 1: Visit the Branch
Identify the branch closest to your registered office. While many banks offer "online account opening" inquiries, you must visit in person to submit physical documents and provide thumbprints for KYC (Know Your Customer) compliance.
Step 2: Fill the Corporate KYC
Corporate KYC is more detailed than personal KYC. You will need to disclose the "Ultimate Beneficial Owners" (shareholders with more than 10% stake).
Step 3: Document Verification
The bank's compliance team will verify your OCR documents against the government database. This usually takes 2 to 5 business days.
Step 4: Initial Deposit
Once approved, you will be asked to make an initial deposit. For Pvt. Ltd. current accounts, this typically ranges from NPR 5,000 to NPR 25,000 depending on the bank.
Post-Opening: Digital Integration
Once your account is active, immediately apply for:
Corporate Internet Banking: Essential for viewing statements and internal transfers.
ConnectIPS (Corporate): The gold standard for making government payments (TDS, VAT, SSF) and vendor payments in Nepal.
Corporate Credit/Debit Card: Useful for international software subscriptions (e.g., Zoom, Meta Ads).
Frequently Asked Questions (FAQs)
Do all directors need to be present at the bank?
Usually, only the Authorized Signatories need to be present to sign the account opening forms and provide thumbprints. However, citizenship copies of all directors are mandatory.
Can I open a USD account for my Pvt. Ltd. company?
Yes, but you must show proof of foreign income (e.g., an export contract or a foreign investment approval from the NRB/Department of Industry).
How long does the whole process take?
If your paperwork is perfect, your account can be active within 3 to 7 working days.
