1. Latest audited financial statements (2 years)
2. Latest tax returns
3. Bank statements (last 6 months)
4. Revenue projections

To verify your business account, you will be required to submit general business information (i.e. name of the entity, registration number, registration date, registered and operating address) as well as the following documents:

• Corporate Formation Documents: Certificate of Formation, Articles of Incorporation, Certificate of Organization, Trust Deed/Agreement, or Equivalent Legal Documents.

• Company Share Registry: A comprehensive record of Ultimate Beneficial Owner (UBO) shareholders, including details on percentage capital stake and voting rights.

• Organizational Chart & Corporate Structure Document: If your business entity is owned by another entity, this document should clearly outline ownership by the parent company or companies.

• Proof of Business Operating Address (POBOA): A document verifying your company’s physical address, which must include the business name. Acceptable documents include a business bank statement, credit card statement, lease agreement, or utility bill. The document must be issued within the last three months.

• Anti-Money Laundering Questionnaire & Attestation

*We also require personal documentation for each beneficial owner and account accessor.

Please note that corporate documentation may vary significantly depending on the country of incorporation. To ensure that you submit the right documents, please reference the information provided below. Additional documentation may be requested during the application process.

In order to operate in a wide array of jurisdictions, we are required to ask for key documents and information from our clients. We must keep these documents on file for each of our clients that opens a business account at VISHAB in order to comply with these regulations.

Various corporate entity types can open a business account at VISHAB. Some of those types include: 

• Corporations

• Limited Liabilities Companies (LLC)

• Sole Proprietorships

• Sole Traders (UK)

• Partnerships

• Trusts

• Australian Self-Managed Super Funds (SMSF)

• Mutual Fund Schemes

In addition to the required business documentation, you will be asked to provide personally identifiable information (such as name, address, email address, phone number, and Social Security Number, where applicable), along with personal verification documents for the following individuals:

1. Beneficial owners: Depending on the regulatory requirements of the jurisdiction in which your company is registered, you may be required to disclose information regarding the beneficial ownership of the business entity. This includes identifying individuals who hold a significant level of ownership, equity interest, or voting rights. Thresholds and definitions of beneficial ownership vary by jurisdiction, and you will be asked to provide this information in accordance with applicable local laws and regulations.

2. Individuals with significant managerial control: This includes anyone who has direct or indirect authority to appoint or remove a majority of the board, or who exercises significant control over the company’s operations (e.g., CEO, CFO, Owner, or equivalent roles).

3. Individuals associated with a trust or partnership structure: Such as trustees, beneficiaries, settlors, protectors, or members of a firm who exercise significant control over the company.

4. Account accessors: Any individual who will have access to the account.

A valid Corporate Formation Document is a key piece of documentation that was issued upon the successful registration of your company with the regulatory body in the country of registration.

A valid Share Registry document displays full shareholder structure and is issued by a regulatory body. Depending on the type of business, it could be a corporate document displaying full ownership of the shares issued by the company or it may mention a sole member / sole proprietorship and show the name of the owner.

A valid Proof of Business Operating Address (POBOA) document contains the legal name and the physical address of the company (i.e. the place where the day-to-day business takes place) and is dated less than three months from the date of submission. We do not accept P.O. Box addresses from any country.

POBOA documents include:

• Business bank statement

• Credit card statement

• Lease agreement

• Utility bill

• Registered lease/rent document

• Property ownership title deed registered in the name of the institution, duly stamped and signed

We are required to know the source of any funds that are added to a business account at VISHAB. The SOF indicates how the funds were originally generated.