How do you do corporate KYC?

1) Copy of Certificate of incorporation (mentioning CIN). 2) Copy of Memorandum & Articles of Association. 3) Copy of PAN of the Company. 4) Resolution of the Board of Directors to open an account and list of officials authorized to operate the account.

What are the KYC documents for companies?

5 KYC documents you need for your business:

• Proof of Identity. Valid passport. Election/Voter’s ID card. Permanent driving license. Photo ration card. Government employee ID card.
• Proof of Address. Valid passport. Election/Voter’s ID card. Permanent driving license. Gas bill (pipeline connection only)

Does KYC apply to companies?

Who needs KYC? KYC is required for financial institutions that deal with customers during the opening and maintaining of accounts. When a business onboards a new client, or when a current client acquires a regulated product, standard KYC procedures generally apply.

What is a corporate KYC?

KYC, or “Know Your Customer”, is a set of processes that allow banks and other financial institutions to confirm the identity of the organisations and individuals they do business with, and ensures those entities are acting legally.

How do you explain KYC to customers?

Anti-Money Laundering Directive

1. Improve understanding of customers, beneficial owners of legal entities, and their financial dealings to minimize risk.
2. Stricter Customer Due Diligence (CDD)
3. Control customer identity and share data with central administration.
4. EU member states must implement the directive within two years.

What are the documents accepted for KYC as address proof in India?

i) Passport ii) Driving license iii) Credit Card Statement- not more than 3 months old iv) Salary slip v) Income/Wealth Tax Assessment Order vi) Electricity Bill- not more than 6 months old vii) Landline Telephone Bill – not more than 3 months old viii) Bank account statement ix) Letter from reputed employer x) Letter …

What is KYC know your customer also known as?

What Is KYC Verification? The Know Your Client or Know Your Customer (KYC) verification are a set of standards and requirements used in the investment and financial services industries to ensure they have sufficient information about their clients, their risk profiles, and financial position.