I applied for a business account for my US LLC as an UAE resident (EAA
citizenship). I mentioned to them that I have a past in
crypto trading (I need to say this for SoF purposes), even though I have no plans to use the account for that.
Here's all they ask me to provide:
1. Notarized/apostille certified (within last 6 months) company‘s registration
certificate (
certificate of incumbency, where applicable) where following data should be seen – name, legal form, legal entity code, company incorporation date, registration
certificate issuance date).
2. Notarized/apostille certified register of directors and shareholders and share
certificate (within the last 6 months).
3. If notarized/apostille certified documents were received from notary by email, please provide the email in eml. format, so we would be able to see the sender’s email and original attached document.
4. Company
Bank Account Statements from another financial institution (for a period of at least the last 3 months) if the company has (or has had in the past) a bank account(s) in another financial institution(s). If the company does not have an account in another financial institution, please indicate it.
5. Provide the proof of registered crypto activities with the
FinCEN.
6. Proof of company’s operating address, if different from registration address (issued within 3 months of the current date);
7. Director/Authorized Signatory/Shareholder/UBO proof of address (utility bills, etc., issued within three months of current date)
8. Explanation on Source of Wealth of the UBO(s) from which the company was incorporated, primary expenses paid from. Please provide supporting documentation which may include:
a. Resolutions for dividend payments from other companies.
b.
Loan agreements.
c. Bank statements (for the last 6 months before company incorporation date).
d. Sale/purchase agreements.
e.
Investment portfolio details.
f. Other applicable documents.
9. Please provide Mr. XXXXX's proof of experience in the
crypto trading field.
10. Please provide wallet numbers and the ownership screenshots of all the company's crypto accounts.
11. Indicate all the persons who should have access to the account of the company (full name, position in the company, telephone number and email address).
12. Comprehensively explain the business model:
a. What kind of products/services the company provides (elaborate more).
b. What is the client type: private/corporate.
c. What channels are used for the clients acquisition.
d. Services/products pricing list/ exchange percentage, etc..
e. Indicate what age group is targeted (if individuals).
13. Please comprehensively explain how the account will be used.
a) will you require an account for: clients funds handling (C2B/B2C account),
business expenses and actual profits collection (B2B account) or both account types will be required?
b) provide a flow of expected funds chart or detailed description indicating a clear flow of anticipated funds movement through Verifo account.
14. Please provide a couple of agreements with business partners that would support the stated business model.