Collection of key corporate information

The onboarding process of a corporate client requires the collection of key corporate information to ensure the identification of the legal entity. The client’s information must be validated based on corporate documents, data and/or information obtained either from the client or from reliable and independent sources.

The minimum required details for a corporate client include:

Company name	It is the official name under which a business operates. It is used for legal, administrative, and branding purposes
Legal form	It refers to the structure or type of a business entity, which determines its legal status and the regulations it must follow.
Registered business address	It is the official address of a company, used for legal and administrative purposes.
Business registration number	It is a unique identifier assigned to a business entity by regulatory authorities or government agencies. It serves as an official ID for the business and is used for various legal, tax, and administrative purposes.
Taxpayer identification number (TIN)	It is a unique identifier used by tax authorities to track individuals and businesses for tax purposes.
Value-added tax number (VAT)	It is a unique identifier assigned to businesses that are registered for VAT. It is used for tax purposes and helps authorities track VAT payments and compliance.
Legal Entity Identifier code (LEI)	It is a unique 20-character alphanumeric code used to identify legal entities participating in financial transactions. It is based on the ISO 17442 standard developed by the International Organization for Standardization (ISO).
Nomenclature of Economic Activities (NACE) code	It is a classification system used in the European Union to categorize economic activities. It ensures that data is comparable across Europe and aligns with international standards like the ISIC (International Standard Industrial Classification)
Nature of the business operations/object of the company	It refers to the specific purposes and activities for which a company is established. These are typically defined in the company's constitutional documents, such as the memorandum of association. The objects clause outlines the scope of the company's operations and the nature of its business.
Purpose and intended nature of the business relationship (purpose of the account)	We are required to collect and evaluate this information to understand the nature of our relationship with all clients and establish if the account has a legitimate purpose.
Corporate ownership structure and ultimate beneficial ownership (UBO) information.	Understanding the ownership structure of a company is essential for identifying the Ultimate Beneficial Owners (UBOs), who are the individuals that ultimately own or control the entity.
Details of directors authorized to bind the company, including how multiple directors can exercise this authority.	Signatory information needs to be obtained to identify and verify any natural persons who are authorized to legally bind the company as well as operate the account on behalf of the corporation.
IRS Form W-8BEN-E (FATCA status)	A W-8BEN-E form is required for all accepted corporate (and corporate-like) customers, to document structure and ownership for US Tax purposes.
Self-declared Common Reporting Standard (CRS) Status	It is an information-gathering and reporting requirement for financial institutions in participating countries, to help fight against tax evasion and protect the integrity of tax systems.