Requirements

Please note that you are required to collect all necessary documentation prior to opening accounts. As an exception to this rule, accounts may be opened with the following minimum documentation:

Individuals – Completed CIF, ID, TRN & signatures for all accountholders

Corporate – Completed CIF, Account Opening Resolution, Certificate of Incorporation & TRN, IDs & TRNs of all authorised signatories

Clients will be given 10 working days to produce the additional documents. However, during these 10 days:

• No transactions will be allowed until all outstanding documents are provided
• Failure to provide the documents within the 10 day period will result in the immediate closure of the account

A. Individuals

1. CIF completed in all section
2. Current valid identification (Passport, Driver’s Licence, National ID, Alien Registration Card for overseas residents)
3. TRN (except for non-resident clients). For LSAs all accountholders must have TRNs. Overseas residents and minors must apply for same.
4. Social Security number or other tax registration number (as applicable in the country of residence) for persons resident overseas
   
5. Address confirmation for each account holder (refer to list below)
6. Proof of income (refer to list below); retired individuals must provide as well
7. Two references per account holder (refer to list below)
8. Source of funds (Scotia DBG MB may request documentary evidence)
9. Fax, verbal & email or general indemnities (subject to client’s choice of communication with Scotia DBG MB)
   

Minors (as joint holders only)

1. The minor's birth certificate
2. The minor’s passport or if the minor does not have a passport, the minor’s picture certified by a Justice of the Peace (at the back of the picture).
3. The parent's signature on the CIF where the joint holder should have signed (as the parent is signing on behalf of his/her child)
4. .Full information regarding this minor (to be inserted in the Customer Information Form: full name, address & date of birth)
5. TRN only if the minor is to be a joint holder on a LSA account. If the minor does not have a TRN, the parents have to apply for one.
   

B. Corporate Bodies

1. CIF completed in all sections
2. Certificate of Incorporation
3. Articles of Association
4. Memorandum of Association*
5. Directors’ Resolution
6. .Identification & TRN of signatories
7. TRN for the company
8. Social Security number or other tax registration number for overseas companies
9. Names and permanent residential addresses of principal owners (or shareholders), directors, beneficiaries, management officers and other signatories
   + If part of a group of companies, information on the ultimate beneficial owners/controllers of the company
10. Description of customer’s main line of business and major suppliers (if available)
11. Financial statement of the business or 12 months’ bank statements
12. roup/corporate structure (where applicable)
13. Source of funds (Scotia DBG MB may request documentary evidence)
14. Certificate of good standing required from overseas companies
15. Fax, verbal & email or general indemnities (subject to client’s choice of communication with Scotia DBG MB)

* Not required for companies incorporated after February 1, 2005. Only Articles of Association; Declaration of Compliance and Certificate of Incorporation are required for such companies.

C. Non-incorporated Entities (partnership, sole trader, club, association, school, church, etc)

1. CIF completed in all sections
2. Identification and TRN of signatories/principals
3. TRN of the business
4. Certificate of Business Name Registration or other document evidencing existence
5. Written rules regarding the functioning of the non-corporate entity (e.g. constitution, Deed of Partnership, statute)
6. Account opening resolution (if there is a board or executive committee)
7. Information on:
   

• the principal officers or principal representatives (names, position, permanent residential address)
• the purpose of the account
• the source of funds
• the intended nature of the business relationship

For more details on non-incorporated entities refer to pages 13-14 of Scotia DBG MB’s AMLTFPP.

ADDITIONAL REQUIREMENTS FOR ‘A’ & ‘B’ ACCOUNTS

Proof that the funds deposited originated overseas (copy of cheque or funds to be wired to our account)

For all accounts being opened, the Bank reserves the right to request confirmation of the source of funds and request additional information or documentation not noted above in order to satisfy its ‘Know Your Customer’ mandate.

N.B. ALL joint holders MUST be overseas residents.

References

1. Other financial institutions
2. Current employer
3. Minister of Religion
4. Police – Rank of Inspector and above
5. Permanent staff member of the Scotia DBG Group
6. Existing client over a year
7. Attorney

Proof of Address

1. A copy of a current utility bill showing the customer's name and place of residence
2. A copy of the relevant page of the telephone directory
3. Checking the Voters' roll
4. A letter from a senior manager at the customer's place of employment, certifying the customer's address and accepted by Scotia DBG MB General Manager
5. Visiting the client's residence and completing Scotia DBG MB's Address Verification Form

Proof of Income

1. Last three months pay slips
2. Employment letter
3. Last three month’s bank statements or passbook
4. Auditor’s confirmation (for self-employed persons)
5. Others at Scotia DBG MB’s discretion

 

*Please refer to Scotia DBG MB’s Anti-Money Laundering & Terrorist Financing Policies and Procedures for additional information.