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Setting Up a PNG Business Account.

When you’re starting out or growing your business opening the right bank account is critical. Separating your business finances from personal spending means you can budget clearly and boost your bottom line. Remember never to mix business with pleasure!

A business account gives you visibility on how well your business is doing. You can make deposits and withdrawals, arrange payments, manage your funds, and carry out basic day-to-day purchases. Having a clear financial record will make it easier to take out a loan and help you avoid tax time confusion.

Here's how to set up a business bank account in PNG.

1. Register your business

Make sure your business is registered as a Sole Trader, Partnership or Company Licensed to trade. You’ll need an Investment Promotion Authority certificate, Certificate of Compliance and Tax Identification Number.

2. Bring your ID
Gather two forms of primary ID:
  • Passport
  • Driver’s license
  • Employment ID card and confirmation letter
  • Current student ID and confirmation letter
  • Superannuation membership card
  • PNG work permit with Labour & Industrial Relations letter
  • PNG Government issued photographic license and or permit
  • National Identity Card issued by NID office.
3. Apply in branch

Complete the application form and take the right documents to a bank branch to open your account! Kina Business Accounts are designed specifically for SMEs in PNG.

4. Set up your account

If you open an account with Kina Bank, you’ll get access to 24/7 online banking, Kina Konnect, the Kina Banking App, a Venture Debit Card and our global EFTPOS network.

5. Get down to business!

You can find out more about our business accounts or fill out an application form with Kina here: kinabank.com.pg/business-banking/kina-business-account/

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