Can an account be opened in the name of a sole proprietorship firm?

Can an account be opened in the name of a sole proprietorship firm?

Yes, an account can be opened in the name of a sole proprietorship firm. The process is similar to opening an individual account but with some additional requirements.

Steps to Open an Account:

  1. Online Onboarding Process
  • Visit online platforms such as 5paisa.
  • Complete the onboarding journey online, similar to the individual account process.



      2.  Required Documentation

  • In addition to the standard documents needed for individual accounts, sole proprietorship firms must submit proof of the proprietorship bank account.
  • The bank proof must mention both the name of the proprietorship firm and the name of the proprietor.

By following these steps and providing the necessary documentation, clients can successfully open an account for their sole proprietorship firm.



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