When a company is incorporated before the Chamber of Commerce, one of the following steps is to open a bank account in the company’s name where the cash flow of the operation will be centralized. For this reason, when carrying out this process at a bank, it is required—before creating the bank account—that you have an opening balance sheet of the company. And what does this consist of?

It is a formal document in which a Certified Public Accountant details the list of assets contributed by the company’s founders and, at the same time, the amount of the liabilities (possibly obligations incurred to acquire the contributed assets), as well as the initial equity contributions, meaning the amount of the subscribed shares.

This document must indicate the date of registration of the company's creation before the Chamber of Commerce and must be signed by the Certified Public Accountant and the appointed Legal Representative.

Finally, keep in mind that the bank usually requests a copy of the Accountant’s Professional License and their National ID.