1. What Is a “Preparatory Account”?

When applying for company incorporation registration, entrepreneurs always encounter a dilemma: “The company needs to deposit its startup capital before incorporation registration can be processed, but until registration is officially completed, a bank account under the company’s formal name cannot be directly opened.”

To resolve this, banks allow founders to present the “Company Name Pre-Examination Approval Document” to open a transitional “○○ Company Preparatory Account” specifically designated for shareholders to deposit capital, facilitating subsequent professional CPA capital audit verification and the issuance of an audit report.

2. Stage 1: Opening a Company Preparatory Account

1. Required Documents & Preparation Checklist

• Company Name and Business Activity Registration Pre-Examination Approval Document (Original)
• Founder’s Dual Identity Documents: National ID Card (Original) + Second ID (National Health Insurance Card, Driver’s License, or Passport)
• Preparatory Account Seals (Choose one option):
  • Option A (Most Common): Founder’s personal name seal (Carved with personal name; no need to specially carve the word “Preparatory”).
  • Option B: Preparatory seals carved with “○○ Company Preparatory Account Representative ○○○” (A small number of banks have this specific requirement).
• Commercial Lease Agreement or Address Proof Document (Required by certain banks with stricter reviews).

2. Account Opening Workflow & Steps

• Select the Bank: Prioritize banks where the founder has maintained personal accounts for over six months; alternatively, choose a bank branch near the company’s registered address (e.g., Taichung or Taipei districts) or near the founder’s household registration location (cross-district account opening is easily declined by anti-money laundering mechanisms).
• Online Reservation / Counter Visit: It is recommended to reserve “Preparatory Account Opening” through the bank’s official website in advance, and the founder must appear in person.
• Complete KYC (Know Your Customer) Forms: Explain the company’s future primary business activities and estimated transaction volumes.
• Obtain Preparatory Account Number: Upon successful review, the “○○ Company Preparatory Account” will be successfully opened.

3. Stage 2: Capital Deposit & CPA Capital Audit Verification (Extremely Important)

Once the preparatory account is successfully opened, shareholders can be notified to deposit their capital:

• Must Be Deposited Under “Shareholder’s Personal Name”: The remitter name on the remittance slip must match the shareholder’s name in the articles of incorporation precisely (do not have non-shareholders remit on behalf or deposit cash directly, otherwise audit verification will be rejected).
• Remittance Memo Reference: Please note “Share Capital” or “Capital Amount” in the remittance memo.
• Apply for Deposit Balance Certificate: Once all shareholder funds have arrived, wait 1 to 2 trading days (avoid depositing and applying on the same day), and apply for a “Deposit Balance Certificate” from the bank to provide to the professional CPA for Capital Verification Audit (Audit Report).

4. Stage 3: Converting to a Formal Corporate Account

Once you successfully obtain the Company Incorporation Registration Approval Letter and the Company Incorporation Registration Statement, you can return to the original bank to convert the “Preparatory Account” into a “Formal Corporate Account.”

1. Required Documents for Formal Account Conversion

• Company Incorporation Registration Approval Letter & Company Incorporation Registration Statement (Original)
• Articles of Incorporation and Shareholder Roster
• Formal Company Seals (Must match the seal impressions filed on the registration statement)
• Founder’s Dual Identity Documents (Original)
• Identity Documents of Ultimate Beneficial Owners (Shareholders holding 25% or more)
• National Taxation Bureau Tax Registration Approval Letter or Uniform Invoice Purchase Permit (Required by some banks to verify operational facts)

2. Conversion Workflow

• The founder personally brings the above documents to the original issuing branch to process.
• Update seal impressions (change from preparatory seals to formal company seals).
• Simultaneously apply for Corporate Online Banking, Corporate Debit Cards, and Checking Accounts (based on operational needs).

5. Practical Pitfalls Guide (Tips from Taichung/Taipei CPAs for Entrepreneurs)