Open an Account in a Bank of India
India is the country with one of the largest economies in the world. For this reason, it is attractive for relocating people and opening branches for businesses that plan to work and acquire assets in Asia. However, in order to live and work in this country, you need to register a bank account. It has its own specifics, so it is difficult to do without the help of professionals. Lawtter Solutions offers clients the opportunity to open an account in State Bank of India and other financial institutions. We provide fast registration of all types of accounts at affordable prices, with full legal support.
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Opening an account
How to open an bank account in India
Foreign citizens have the right to open an account in India for both personal and corporate purposes. There are also offshore accounts here, which allow you to work in foreign markets. The jurisdiction offers to non-residents three types of accounts:
- Non-Resident External (NRE) is designed for working outside India;
- Regular (NRO) allows companies to accept payments within India;
- Foreign Currency Non-Resident Account (FCNR) allows clients to receive money not only in rupees but also in US dollars and other currencies.
As for individuals, they can open a current account (for settlements) or a savings account for investment activities. It is possible to get a bank card. The bank account can also be opened in both rupees and foreign currencies. One can also open a salary account, which is mandatory for employment.
To open an account in India, one has to visit the bank branch in person. A foreign citizen or a company can’t open a bank account online in India.
Benefits of opening a bank account in India
A bank account in India allows you to get several important benefits. The main ones are as follows:
Ability to open an offshore account
Companies can conduct trading activities abroad using an account in India.Multi-currency accounts are available
Foreign companies and individuals can open an account in different currencies.Wide range of bank accounts available
Non-residents can choose any type of bank account they want based on their needs.Wide choice of banks
More than 10 banks in India are licensed for financial activities, including local and international banks.Documents
List of documents for opening a bank account
Before opening a bank account in India, you need to prepare a package of documents. If the account is needed for an individual, the package looks like this:
- Passport of the individual;
- Proof of residential address;
- Taxpayer Identification Number;
- Confirmation of the origin of the money;
- Resume (CV).
As for companies, they need to provide the following data and documents:
- Registration documentation of the legal entity;
- Passports or ID cards of the director and shareholders;
- ID card of the manager and power of attorney issued by the director (if any);
- Proof of residence address of the director, shareholders, and manager (if available);
- Contracts with partners;
- Proof of origin of the money.
Stages of opening an account
Lawtter Solutions offers assistance in opening an Indian bank account for individuals and companies. We provide full legal support. The procedure includes 5 steps:
Before opening an account in India, you need to choose a financial organization. The best banks to open an account in India are as follows:
- State Bank of India;
- CitiBank;
- HDFC Bank;
- Axis Bank;
- Central Bank of India;
- ICICI Bank, etc.
Clients can contact Lawtter Solutions representatives and get advice on opening a bank account in India via online chat, feedback form, or any other convenient way available in the “Contacts” section.
+38 093 177 52 70 
+1 484 457 89 11 
+44 745 819 79 87 Important: Lawtter Solutions does not provide services to citizens and residents of the Russian Federation.