A Corporate Resolution To Open Bank Account is a fundamental document required when a company in Germany wishes to establish a banking relationship. This formal document, governed by German corporate and banking laws, serves as official evidence of the company's decision to open a bank account and delegates authority to specific individuals to operate it. It is typically needed when setting up new companies, changing banking relationships, or updating signatory rights. The resolution must comply with German regulatory requirements, including those set forth in the Banking Act (KWG) and Money Laundering Act (GwG). It contains crucial information such as the specific powers granted to authorized individuals, signing authorities, and transaction limits, while also satisfying the bank's due diligence requirements under German law.
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1. Company Information: Legal name of the company, registration number, registered address, and type of legal entity under German law
2. Meeting Details: Date, time, location of the meeting, and confirmation of proper notice and quorum according to company's articles
3. Resolution Declaration: Formal statement that the resolution was properly passed according to company requirements
4. Bank Account Details: Specification of the bank, type of account(s) to be opened, and currency
5. Authorized Signatories: Names, positions, and personal details of individuals authorized to operate the account
6. Signing Authority Rules: Specific rules for account operation (e.g., single/joint signing authority, transaction limits)
7. Powers Granted: Detailed list of banking activities the authorized persons can undertake
8. Certification: Statement certifying the resolution's validity, typically signed by the board secretary or appropriate officer
1. Specific Transaction Limits: Used when the company wants to set specific monetary limits for different types of transactions or different signatories
2. Online Banking Authorization: Include when specific authorization for digital banking services is required
3. Foreign Currency Operations: Include when the company needs to authorize foreign currency accounts or transactions
4. Special Instructions: Used when there are specific requirements for account operation or special circumstances
5. Superseding Clause: Include when this resolution replaces or modifies previous banking resolutions
1. List of Authorized Signatories: Detailed information about each authorized signatory including specimen signatures
2. Identification Documents: Copies of required identification documents for authorized signatories
3. Extract from Commercial Register: Recent extract from the German Commercial Register (Handelsregisterauszug)
4. Company Formation Documents: Relevant corporate documents proving the company's existence and authority structure
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