Part of the process of registration for corporation is opening a Treasurer in Trust (TIT) Account. This will certify that you have in the bank the said capital as declared in your Paid Capital in your Articles of Incorporation and By-laws.
You may open an account in a bank of your choice. You have to submit original company/personal identification documents to the bank. The TIT Account is temporary and non-transactional. This will be closed upon conversion to a regular commercial account or submission of proof of the non-registration of the company. The proof of non-registration would be a declaration/certification from all the incorporators that the registration did not push through and that the appointed Treasurer is authorized to withdraw the proceeds of the account.
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