Know your customer (KYC)

These are guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.

KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant and are actually who they claim to be. Banks, insurers, export creditors, and other financial institutions are increasingly required to make sure that customers provide detailed due-diligence information.

KYC Requirements for Individuals
- 2 Forms ID (Driver’s Permit, ID Card or Passport)
- Proof of Address (Utility Bill- TTEC, WASA) (must be less than 3 months old)

KYC Requirements for Self-Employed
- 2 Forms ID (Driver’s Permit, ID Card or Passport)
- Proof of Address (Bank/Credit Card Statement, Utility Bill- TTEC, WASA)
- Certificate of Registration Incorporation (if registered)
- Three (3) Months Bank Statements/ Bank Reference Letter

KYC Requirements for Business Customers

**Certificate of Incorporation
**Annual Returns – most recent
By-Laws
Articles of Incorporation
Proof of Identity for ALL Directors as stated on Annual Returns - e.g. ID, DP or Passport
Proof of Identity for all shareholders, if number of shares held is 10% or more
**Proof of Identity for authorized signatory at bottom of form
VAT Registration Number
BIR Number
**Utility Bill on the Company’s name – dated within 3 months
Management Accounts (3 years) OR Bank Reference Letter
**Notice of Directors
**Notice of Address

** REQUIRED BY LIS OFFICE TO REGISTER VEHICLE

**NB: All Bank Reference Letters must include the basic information below:**
-Name of the customer (business or individual)
-Number of years transacting business with the bank
-Whether the account is maintained in a satisfactory manner
-The bank recommending the customer good for business

Utility Bills may take the form of the following:
-Telephone Landline
-T&TEC
-WASA
-Cable / Internet Provider – Flow, Amplia, Greendot, Digicel etc.

If Utility bill is not in your name/company’s name- you would be required to fill out two authorization letters - 1 for KIA & 1 for Ministry of Works and Transport.