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What is KYC and why is it required?
What is KYC and why is it required?
Updated over a week ago

KYC is an abbreviation for the term ‘Know Your Client’. We collect KYC:

  1. to identify our clients and assess risks in providing services to individuals and entities,

  2. to comply with our regulatory and legal obligations as a Company Service Provider, and

  3. to have the information and documents needed to submit to the Regulator to incorporate or make changes to your company.

The table below outlines the KYC requirements for individuals and corporate entities. Depending on the circumstances, additional documents or information may be required. We appreciate that the KYC requirements are extensive but without full and accurate KYC, applications will be returned or rejected and therefore we will always ensure that we have full KYC to ensure regulatory compliance and streamline your application.

Individual

Corporate Entity

Passport copy

  • If the individual has a passport from another country (current or expired) we will need copies of current passports and the details of any expired passports.

  • The passport copy should include the signature page as well as the photo page if they are separate.

  • For Indian nationals, the copy must include the family page and for UAE Nationals, it needs to include the UID sticker.

Official document confirming current directors and shareholders.

  • must be dated within the last 2 months

  • must be in English (or translated into English)

  • Could use one of the following:

    • Certificate of Incumbency certified by registered agent or relevant issuing authority, or

    • Register of Directors and Register of Members certified by registered agent, or

    • Certified extract from the relevant authority's website (must show current directors and shareholding of each shareholder)

Residential address and current dated proof of address

Certificate of incorporation / registration and Articles of Association

Residence Visa / National ID Card (if applicable)

Current dated commercial or trade licence (where appropriate) or Certificate of Good Standing.

Emirates ID Card (if applicable)

KYC for each Director (see KYC list for individuals in previous column)

Occupation details and CV

KYC for each shareholder with 25% ownership in the entity

Contact details including phone number and email address

Source of wealth and funds information

Source of wealth and funds information

All KYC must be provided in English or in its original language with a legal translation attached.

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