01
Licensed infrastructure
A corporate account and cross-border operations are structured through an RBI-regulated bank, with foreign exchange handled through an authorised dealer; GIFT IFSC and payment services have separate regulatory regimes and authorised-institution lists
02
KYC and origin of wealth
The bank reviews the company, PAN and applicable registrations, UBOs, directors, FDI and FEMA records, source of funds, contracts, address, business purpose, countries, projected payments and consistency with the declared profile
An account is opened for a coherent profile, not a jurisdiction name. The bank reviews the company, PAN and applicable registrations, UBOs, directors, FDI and FEMA records, source of funds, contracts, address, business purpose, countries, projected payments and consistency with the declared profile.
03
Company and private client
Registered-office, resident-director, accounting, audit, beneficial-ownership and annual-filing duties continue after formation; board process, people, contracts, GST, payroll and licences should reflect the actual business. The corporate burden depends on status and elections: a domestic company compares the ordinary regime with sections 115BAA and 115BAB, as well as surcharge, cess, MAT, incentives, withholding, transfer pricing and treaty eligibility.
04
Trusts and foundations
Private wealth may use an Indian private trust, holding company, LLP, will and family governance; GIFT IFSC offers a separately regulated Family Investment Fund route in a permitted legal form. A private trust is not a regulated fund, while a GIFT IFSC Family Investment Fund must meet IFSCA registration, participant, investment and management rules. FEMA, residence, control, beneficiaries, tax and asset location are tested for every model.
05
After opening
Residence and the scope of taxable income depend on presence days and special categories including RNOR; rates, capital gains, foreign assets, reporting and treaty relief are calculated from the facts. GST is a multi-rate CGST, SGST/UTGST and IGST system; registration, place of supply, input credit, invoicing, reverse charge, e-way bills, import GST, customs and stamp duty need a product- and state-specific map.
FAQ
FAQ
Where should a bank accounts and private banking project in India start?
A corporate account and cross-border operations are structured through an RBI-regulated bank, with foreign exchange handled through an authorised dealer; GIFT IFSC and payment services have separate regulatory regimes and authorised-institution lists
Can formation or account opening be guaranteed?
This material is general information. Formation, licensing, tax outcomes and account opening depend on the facts and the decision of the competent authority or financial institution.
Why are tax and banking reviewed together?
The corporate burden depends on status and elections: a domestic company compares the ordinary regime with sections 115BAA and 115BAB, as well as surcharge, cess, MAT, incentives, withholding, transfer pricing and treaty eligibility. The bank reviews the company, PAN and applicable registrations, UBOs, directors, FDI and FEMA records, source of funds, contracts, address, business purpose, countries, projected payments and consistency with the declared profile.
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Related routes
- Company formation
- Open primary source
- Private wealth: foundations and trusts
- Open primary source
- Tax strategy
- Open primary source
- GIFT City IFSC funds and licensing
- Open primary source
- FEMA and cross-border payments
- Open primary source
- Relevant practice
- Open primary source