Procedures and compliance
It is TBA’s own statutory duty regarding the prevention of terrorism, drug trafficking and money laundering, to be committed to undertaking full and thorough due diligence of both clients’ identities and the nature of their businesses.
Although respecting our clients’ confidentiality is one of our major concerns, we are obliged on the other hand by law to obtain the full information relating to all beneficial owners, directors, shareholders, bank account signatories and all parties connected in any way to any company, business entity, trust or foundation we may form or administer:
- Proof of Identity
- Proof of Residential Address
- In addition, a detailed Curriculum Vitae is sometimes mandatory and always useful.
To establish the identity and signature of all parties, clients must provide a copy of one of the following documents:
- Current Valid Passport;
- Current Valid National ID Card;
- Such copy must bear a clear photograph, the holder’s signature and the document number. The copy must be certified by a manager of an TBA office or any of a notary public, lawyer, banker or another professional person;
- The person making the certification must be a member of a professional organisation that publishes certified lists of its members and the professional body must be clearly identified under their signature.
The documents sent to us must bear the original signature of the person certifying the identity document. The person certifying the Proof of Identity must have sight of the original document and certify the copy in the presence of the individual concerned by inserting the following text on the copy “Having seen the individual and the identification documentation at the same time, I certify this is a true copy of the original and that the photograph is a reasonable likeness”.
2. Proof of Residential Address
To validate the home address of all parties mentioned in your application, one of the following documents for each party, not older than three months:
- Original utility bill (a telephone bill [mobile telephone bills are not acceptable], electricity etc.);
- Original bank or mortgage statement from a recognised bank;
- Original credit card statement;
- Original bank reference, confirming the home address, from a recognised bank;
- If you are unable to supply any of these documents you should contact us.
3. Curriculum Vitae
In order to understand our clients’ backgrounds and to assist in the opening of bank accounts we require information about our clients’ work experience, education and qualifications. Additionally, regulations in certain jurisdictions oblige TBA to each of our clients’ CV’s.
4. Source of Wealth
A statement is required from the principal(s) offering a brief description as to the origins of his/her wealth and the period over which the wealth was generated.
These may be emailed or faxed to us for review, but the originals must be sent to us by courier or mail and regretfully we cannot undertake work until the originals have been received. All documents must be in English or if not then a translation from an independent and accredited translator should be attached.
Note: In some jurisdictions the requirements may differ.