Document background
A Board Resolution To Open Bank Account is a crucial corporate document required when a company in Ireland needs to establish a banking relationship. This formal resolution is necessary under the Irish Companies Act 2014 and banking regulations to demonstrate proper corporate authorization for opening and operating bank accounts. The document is typically required for new companies, when changing banks, opening additional accounts, or updating signing authorities. It must include specific details about the chosen bank, authorized signatories, operating mandates, and transaction limits. The resolution serves as the bank's assurance that the company has properly authorized the account opening through appropriate corporate governance procedures.
