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If you are an eMerchant to help you in getting the most straightforward on-boarding process and make an underwriting process simple we provide you with the KYC guideline below. Open account can assist with all the requirements below including company formation in MALTA to ensure compliance with the EU schemes.
Please present electronic copies of the documents that would allow us to process your application with the maximum effectiveness. Under certain conditions we might request the copies to be certified by a notary or a lawyer – this will be required when the actual AML compliance rules oblige us to request third-party verification.
We provide support in several foreign languages, however, due to standard auditing requirements, if verification documents are supplied in a language different from English, we need to obtain certified English translation together with the original document.
Note please that during the application process we may request additional documents to make us better understand your business model and/or to apply your profile to the wider scope of our banking partners. Original certified hard-copy documents may be later required.
1. COMPANY DOCUMENTS
• Certificate of Incorporation;
• Original (at incorporation) Memorandum and Articles of Association or alternative;
• Certificate of Incumbency (no older than 6 months) OR:
o Certificates listing the current directors;
o Certificates listing the current shareholders;
o Certificates listing the current registered address;
• Shareholder certificate(s);
• Utility bill for office premises (no older than 6 months);
• Tax number certificate;
• VAT certificate (if applicable);
2. BANK ACCOUNT INFORMATION*
• Settlement bank account ownership* confirmation
** (no older than 6 months, carrying company name and address, document date of issue, bank account number / IBAN),
please request this to be additionally stamped and signed by the bank representative;
Note*: Screenshots from the online banking are not accepted due to AML rules;
Note**: Either bank statement or bank letter;
3. PERSONAL DOCUMENTS
• Passport copy per each Director and Authorized Signatory / Attorney
• Passport copy per each Shareholder (holding at least 10% of shares) AND UBO (Ultimate beneficiary owner)
• Utility bill (gas, electricity or water utility bills required), not older than 3 months, for address verification for each of the Directors, Authorized Signatories / Attorneys, Shareholders and Ultimate beneficial owners
• CV / Experience description per each Director and UBO
4. OVERLYING COMPANY:
• In case of a Company(s) owning at least 10% of shares in the Merchant company - all of the documents listed in points 1 and 2 for it (them), up until the identification of the natural person(s) stated in the mentioned corporate documents.
• Proof of domain ownership (per each URL/Site submitted )*
* In case the domain registration is private, please provide a proof of domain ownership - for example, a screenshot from domain registrar back-office account confirming ownership belongs to the applying or overlying company.
An invoice issued by domain registrar for the website.
An agreement or any other document confirming domain ownership.
• If applicable - Certificate of Trust (UBO identification)
• If applicable - Power of Attorney
• If applicable - copy of an operating license (e.g. Gambling, Forex, Binary options, Pharmaceutical, etc.)
• If applicable - PCI DSS Certification documents: o In case your company hosts the payment page –SAQ D, 3 latest ASV scan reports, Attestation of Compliance (AOC) if applicable;
o In case your company uses payment page, hosted by third party provider – SAQ A for your company and PCI documents for the third-party provider, confirming that they are PCI compliant;
o In case your company uses our hosted payment – SAQ A for your company. • If applicable - for physical goods, the certificates of production, ingredients, free / permitted sale, photos of product (Nutraceuticals)
• If applicable - if company's turnover is more than 1M EUR annual, Shareholders / UBOs must supply documents confirming their source of funds (tax declaration or alternative) Certification of documents Guidelines:
• Certifications may only be performed by the following persons/institutions: o Credit institutions; o Lawyers/patent agents/auditors/charted accountants/tax advisers; o Notaries;
• Certifications may be issued by the individuals/institutions listed above from a member state of the EU.
• Certifications must be available in the original and must not be older than 6 months. These must include the following information:
o Remark: “The original was available and the certified document is a true copy of the original.”
o Place o Date o First name and last name o Profession o Stamp o Signature Application documents shall be provided in the following formats: jpg, jpeg, png, tif, pdf, and the basic Microsoft Office file formats. Scanned Document Guidelines:
• The lowest DPI that is needed for the scanned document is 300 DPI.
• Documents must be colour scans of the original - scans from a photocopy or a faxed copy are not accepted.
• Documents must be scanned at the original size - cropped, tilted, skewed, distorted and / or incomplete are not accepted.
• It must be ensured no part or pages of the document are missing.
• Where a document has stamps, seals or text on both sides of the page then both sides must be scanned Alternatively, you may use a mobile device to take a digital photograph of your documents.
Photographed Document Guidelines:
• Documents must be photographed from the original and in colour.
• Documents must be placed on a flat background when photographed.
• Information in the photograph must be clear and legible. • Information in the photograph must not be obstructed (for example, by fingers or a shadow) - cropped, tilted, skewed, distorted and / or incomplete are not accepted.
• It must be ensured that no part or pages of the document are missing.
• Where a document has stamps, seals or text on both sides of the page then both sides must be photographed Unreadable documents will be required to be re-submitted which may result in a delay in the application being processed.