The bank will conduct customer due diligence on the company, activity, source of funds, directors, signatories, shareholders and ultimate beneficial owners. Requirements vary. Expect incorporation records, constitutional documents, tax details, registered and operating addresses, board resolutions and identification. Foreign corporate owners may need certified home-jurisdiction documents.

The board resolution should approve the bank, account currencies, authorised persons, signing rules, online access and transaction limits. Align the mandate with the constitution and shareholder agreement. Use segregation of duties and independent payment verification, especially for changes to supplier details.

Classify incoming funds before transfer. Equity needs subscription, allotment and register evidence. Shareholder debt needs a signed agreement, currency, interest, repayment and transfer-pricing analysis. Service revenue and intercompany payments need real contracts and tax treatment. Preserve bank evidence to support later dividends, interest, loan repayment or exit proceeds.

Kenya does not operate a general exchange-control regime preventing properly documented after-tax transfers. Banks still require KYC, tax and underlying transaction documents. Do not describe a transfer as equity in the bank reference if corporate records treat it as a loan.

The banking model should also consider collections, merchant acquiring, mobile money, payroll, foreign currency, trade finance and approval thresholds. A business that receives or transmits customer funds may enter regulated payments activity; opening an ordinary account does not authorise that business model.