Here’s a practical, step‑by‑step guide to opening a corporate (business) bank account in Sri Lanka, with the typical documents and special notes for foreign/non‑resident companies.

1. Decide the account type and bank

• Choose LKR current/savings or a Business Foreign Currency Account (BFCA) if you need foreign‑currency receipts/payments. Different banks offer different services, minimums and fees—compare Commercial Bank, Bank of Ceylon, HNB, People’s Bank, NDB, etc., and pick the branch that handles corporate accounts. (combank.lk, boc.lk)

2. Prepare company registration / tax documents (local companies) Typical documents banks ask for (certified copies):

• Certificate of Incorporation / Business Registration Certificate.
• Memorandum & Articles of Association (or Constitution).
• Statutory ROC forms (e.g., Form 01/Form 20, Form 15, Form 48 or equivalents) and any filings showing current directors/secretary.
• Board resolution authorizing opening the account and naming authorized signatories (in the bank’s required format).
• Taxpayer Identification Number (TIN) / tax information certificate.
• Proof of business address (lease/utility bill).
• Certified ID (NIC or passport) and proof of address for all directors / authorized signatories; specimen signature cards.
• Declaration of Beneficial Ownership and KYC/CDD forms required under AML rules.
  Banks generally require company‑secretary certification of document copies and specific bank forms (account opening, mandates, signature cards). (boc.lk, combank.lk, peoplesbank.lk)

3. Additional / different documents for foreign or non‑resident companies

• If the company is incorporated outside Sri Lanka or you’re opening a branch/representative office, expect to provide: certificate of incorporation of the parent company, constitutive documents of the parent (certified and translated if necessary), proof of registration/branch authorization in Sri Lanka (if applicable), and possibly notarization/apostille of overseas documents. Banks perform enhanced due diligence for foreign entities and may ask for evidence of the source of funds and business contracts/exports. Some BFCA eligibility and document lists are specific — check the bank’s BFCA rules. (boc.lk, en.fidulink.com)

4. Practical steps at the bank

• Contact the chosen branch/corporate desk to get the bank’s exact checklist and the bank’s account application & KYC forms (banks publish downloadable forms).
• Have the company secretary or authorized officer certify copies where requested. If signatories are overseas, ask the bank whether notarized copies, apostilles, or a local power of attorney are acceptable.
• Submit application, board resolution, KYC, beneficial ownership declaration and the required IDs/proofs. (boc.lk, hnb.net)

5. Initial deposit, minimum balances & fees

• There is no single government‑mandated minimum; banks set their own initial deposit and minimum balance rules. Typical ranges: local companies often LKR 10,000–50,000; foreign companies or specialized corporate packages may require higher initial deposits (and some corporate branches require larger minimums). Large corporate/branch accounts may require substantial minimum daily balances (e.g., Bank of Ceylon’s corporate branch examples show higher minimums). Always confirm the exact amount and tariff with the bank. (consultrio.com, boc.lk)

6. Timing and AML checks

• Account opening time varies by bank and the complexity of your KYC (from a few business days for straightforward local companies to several weeks for foreign/non‑resident companies or complex ownership structures). Expect AML/combating‑terrorist‑financing checks and requests for additional information. Banks will activate services (online banking, cheque facilities, foreign currency facilities) once KYC and regulatory checks are complete. (combank.lk, peoplesbank.lk)

7. After opening — setup

• Order cheque books, set up online/corporate e‑banking and user roles, register for e‑statements, and keep originals/certified copies of all company documents on file. Update the bank promptly on changes to directors, shareholders or beneficial owners (banks require this). (hnb.net, combank.lk)

Quick checklist you can use when you contact a bank

• Certificate of Incorporation / Business Registration (certified)
• Memorandum & Articles / Constitution (certified)
• ROC forms showing directors & shareholding (Form 01/20/15/48 as applicable) (certified)
• Board resolution authorizing account opening (bank will often supply the template)
• TIN / tax certificate (IRD) and any VAT registration if relevant.
• IDs (passport or NIC) + proof of residential address for all signatories (certified).
• Beneficial ownership declaration / KYC forms signed.
• Proof of business address.
• If foreign: parent company docs, translations, notarizations/apostille and POA if signatories are not present. (boc.lk, 360accountants.lk, combank.lk)

Final tips

• Ask the bank for its exact corporate account checklist and a written list of required certifications/notarizations before you travel/send documents. Banks differ on whether a face‑to‑face appearance by authorized signatories is mandatory or whether notarized/apostilled documents and a local power of attorney will suffice. (combank.lk, peoplesbank.lk)

If you’d like, tell me whether the company is (a) a Sri Lanka‑incorporated company or (b) a foreign company/branch and whether you need foreign‑currency capabilities — I can then give a tailored checklist and suggest which Sri Lankan banks are often best for your situation.