Know Your Client

The document titled 'Know Your Client' is an important document that provides a checklist for the incorporation of a company. It is designed to ensure compliance with legal and regulatory requirements and to gather necessary information about the proposed company and its shareholders and directors. The document consists of several sections, each addressing a specific aspect of the incorporation process.

 

The first section of the document is the company incorporation checklist. It includes the proposed company name and an alternative, as well as the registered office address. The checklist also requires information about the proposed business activities and the authorized capital of the company. It distinguishes between ordinary and exempted companies, providing an explanation of the differences and the options available.

 

The next sections of the document focus on gathering information about the shareholders and directors of the company. It requires their names, addresses, and the number of shares to be issued. The document also emphasizes the importance of complying with the KYC (Know Your Client) requirements and provides a reference to Schedule 1 for detailed information on these requirements.

 

The document further addresses the need for seals, specifying that a seal is not mandatory but may be useful for meeting requirements in other jurisdictions. It provides options for communication addresses and inquires about the need for express service and tax undertaking.

 

The document concludes with an attestation section, where the signatory acknowledges the content and requirements of the checklist and confirms the accuracy of the information provided. It also includes a section for fulfilling KYC requirements for shareholders and directors, outlining the specific information and documentation needed.

 

Overall, the 'Know Your Client' document is a comprehensive checklist that covers all the necessary information and requirements for the incorporation of a company. It ensures compliance with legal and regulatory standards and helps gather the essential details about the proposed company, its shareholders, and directors.

How to use this document?

To use the 'Know Your Client' document effectively, follow these steps:

1. Review the company incorporation checklist section carefully. Provide the proposed company name and an alternative, as well as the registered office address. Consider the proposed business activities and determine the authorized capital of the company.

2. Gather the necessary information about the shareholders and directors. Collect their names, addresses, and the number of shares to be issued. Ensure compliance with the KYC requirements outlined in Schedule 1.

3. Decide whether a seal is required for the company. Keep in mind that a seal is not mandatory but may be useful for meeting requirements in other jurisdictions. Consider the need for express service and tax undertaking.

4. Determine the communication addresses for the company. Provide the address for mail forwarding and, if different, the address for invoices. Include the relevant contact details such as telephone, fax, and email.

5. Consider whether any shareholders or directors are exempt from providing KYC information. If they are introduced by a regulated entity in an approved jurisdiction, obtain a signed attestation from the regulated entity confirming their relationship with the company.

6. Complete the personal questionnaire template for shareholders. Provide the necessary personal details, contact information, and details about offenses or sanctions, if applicable.

7. Ensure that all required documentation is certified as specified in the document. Government-issued photographic identification must be certified by a professional, and all other copies of requested documentation must be certified in the same manner.

8. Sign and return the checklist, acknowledging the content and requirements. Confirm the accuracy of the information provided and request the incorporation of the company by the designated company.

By following these steps, you can effectively use the 'Know Your Client' document to gather the necessary information and fulfill the requirements for the incorporation of your company.