Document background
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.
