KYC Document Requirements

The Financial Action Task Force requires all parties who provide companies and related financial services to clients to obtain proof of identity of the owners of and investors in the companies. Such proof is required for any party that owns or will own more than 20% of the equity interest in the company.

Proof of identity may be in the form of:

In the case of private individuals (including beneficiaries of trusts): a certified extract from a full passport (i.e. a copy of the front cover and pages showing photograph, personal details and signature, date and place of issue and serial number) or other national identity document showing a photograph of the holder.

In the case of corporate owners/investors:

  • a certified copy of Articles of Association, Constitution or Statutes, Published Accounts, Certificates of Incorporation or Trade Register Entry, Certificate of Trade and/or Partnership Agreements; and

  • names and addresses of all directors and shareholders or partners holding more than 20% of the equity of the relevant company or partnership.

In each case, the individual must also provide proof of residence or place of business in the form of:
  • a document of freehold or unexpired leasehold title to the premises at the stated address in the name of the individual;

  • a utility bill or bank or credit card statement addressed to the individual at the stated address and dated not more than 3 months prior to the date of submission;
Certification of documents should be by a professional person such as notary public, magistrate, lawyer or accountant in private practice or equivalent professional person.