If you have questions about what you need to open a Lenco account, this article will answer them for you. There are different requirements for different companies depending on how they are registered with CAC.
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The process is straightforward and easy to follow, so don’t worry if it seems complicated at first! Below are the documents needed to open a Lenco account based on the business structure.
1. Incorporated Trustees
These are businesses that are registered with the CAC as incorporated trustees. These businesses have a CAC/IT number.
Examples of businesses with this registration type include:
- NGOs,
- Religious organizations,
- Professional associations, etc.
Documents required;
- Form CAC IT/1: This is the Incorporated Trustees Application Form.
- CAC/IT Number: This is the Registration number for Incorporated Trustees.
- You will also need to provide information on at least two directors of your business and 2 beneficial owners of your business.
- Utility bill of not more than 3 months
- Passport photographs
2. Incorporated Company
This is a business incorporated with the CAC with an RC number. They include Private and Public companies as well as companies Limited by guarantee.
Documents required;
- Form CAC 1.1: This is the application for registration with the CAC.
- Memorandum and Articles of Association
- RC Number: This is the registration number for an incorporated company.
- Certificate of Incorporation: Certificate showing that the company is duly incorporated.
- Tax Identification Number: This is a unique identification number issued to taxpayers by the FIRS.
- You will also need to provide information on at least two directors of your business.
- Finally, you will need to identify people who, together, own at least 50% of this business.
- Utility bill of not more than 3 months
- Passport photographs
Also Read: The ease of creating a sub-account on Lenco
3. Business Name Registration;
These are businesses registered with the CAC as Business Names. They have a BN number and are typically sole proprietorship businesses.
As a sole proprietor, you can open a Lenco account if you have your own business name. You will need to provide proof of address, identity and income that is sufficient for the purpose of opening an account.
Documents required;
- Certificate of Business Name: This is the Certificate showing that the Business Name has been registered with the CAC.
- BN Number: This is the Registration number for the Certificate of Business Name.
- Form CAC BN 1: This is the application for business name registration.
- You will also need to provide the information of at least one owner of the business
- Utility bill of not more than 3 months
- Passport photographs
Open a Lenco account today to start experiencing better banking!
Click here to open a Lenco account today a start experiencing better banking!
So, this is all you need to open a new Lenco account. It’s easy to do, and once you have everything in place your next step will be to head over to our homepage and get started!
All in all, these are the things you will need when you’re ready to open a Lenco account. If there are any questions that remain unanswered or if anything else comes up during the process of opening an account with us please don’t hesitate to reach out so we can help relieve some of your stress
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