CLIENT ONBOARDING CHECKLIST (Individual & Corporate)

1. Guidelines for an individual

Type Data to be collected
1. Application Form Application Form should be
duly completed and
executed.
(The acknowledgement at
the end of the application
should all be completed)
Comments
These details are VITAL prior to
onboarding the clients:
o Employment Details &
Number of Years
- Employed: Position &
Industry
- Self-Employed: Position &
Name of Business
- Retired or Unemployed:
Previous Position &
Industry
- Student: Parent’s Position
& Industry

o Annual Income
- Specify the amount

o Source of Funds
2. Proof of Identity
If client is from High Risk
Jurisdiction: 2 pieces of
Identity Required.
- E.g: Salary / Savings /
Inheritance / Business
Ownership / Investments
• Valid Passport
• Valid National Identity Card
• Valid Driving Licence
(duly translated in English or
French where applicable)

3. Proof of Address • Valid Passport as POA

• Valid ID as POA
**recent means within • Valid Driving License as POA
the last three (3) • Recent Utility bill (such as
months. Electricity, Water, Landline
bill) issued to the individual
• PO Box addresses by name;
are not acceptable • Recent Bank or credit card
statement;
• Permanent • A recent Professional
Residential Reference Letter from a lawyer
Address (if different / notary or chartered
to current accountant confirming the
residential registered office address
address)
(Duly translated in English or
French where applicable)

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2. Guidelines for a Corporate
Type Data to be collected Comments
1. Corporate Signed Corporate Application
Application Form Form should be duly completed
and executed.
2. Proof of Existence Either one of the followings:
• Certificate of
Incorporation
• Business Licence
3. Proof of Good Certificate of good standing
Standing
4. Registered address - Utility bill
PO Box not acceptable - Bank Reference
**Recent documents (Duly translated in either Letter
- within the last three English or French) - Bank Statement
(3) months

4. Confirmation on Signed:
principals
• Register of directors;
• Register of shareholders;
• List of authorised
Signatories
• Power of Attorney (if any)
5. KYC main principals
Directors, Shareholders,
KYC should be Ultimate Beneficial Owners
provided as per the (UBO)
Guidelines for an
Individual.
6. Financial status Either one of the followings:

• Latest financial
statements (audited
where applicable)
• Management Accounts
• Corporate Profile & 6
months’ bank statements
(for entities that have
been recently
incorporated)
• Annual Report
7. Constitutive Either one of the followings:
documents
• Constitution
• Memorandum and
Articles of Association
• Bye Laws
8. Structure Chart The structure should go back to Shareholding structure, clearly
the UBOs. mentioning the percentage
shareholding interest held.
9. Board Resolution Board Resolution authorizing
person to act on behalf of
Company

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 ENHANCED DUE DILIGENCE CHECKLIST
Enhanced due diligence (EDD) will be carried out in respect of Customer, including PEPs, which
due to their nature entail a high risk of money laundering or terrorist financing as follows:

1. In view of adopting the risk based approach any Client who deposits an equivalent
amount of USD 15,000 or more must also provide relevant documentary evidence along
with the Declaration of the Source of Fund/Wealth.

Individual Corporate

1. 6 months’ bank statements Either one of the followings:

o Whereby it shows sufficient o Latest financial statements

incoming and outgoing funds (audited where applicable)
(Salary, investments…) o Management Accounts
o 6 months’ bank statements
(Duly translated in English or French o Annual Report
where applicable)

2. Duly filled and Signed Declaration of Duly filled and Signed Declaration of
Source of Funds & Source of Wealth Source of Funds & Source of Wealth
Form Form

3. Either one of the followings:

1. Updated & Signed CV

- Showing qualifications
(education) and detailed work
experience.

2. Letter of Employment from

Employer

(In cases where the client did not

provide his employment details on
the Application Form)

2. Adverse Matches / PEP Confirmation

**Required Board Approval to continue business relationship (PEP)

1. Latest 6 months’ bank statements

2. - Duly Filled & Signed PEP or Non-PEP Declaration Form <PEP matches>

- Duly Filled & Signed Client Confirmation Form <adverse matches>

3. Latest Bank Reference Letter

4. Updated & Signed CV

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