The KYC procedure is a requirement in order to comply with the International law provisions, including the ones designed to prevent money laundering. The following should be followed unless an amendment is sent from the Compliance Department stating otherwise.
When a client applies to open an account with us it is the Company’s duty to ensure that along with the application the following documents are received:
Natural Persons – (this also applies to natural persons involved in a legal entity such as Directors, Shareholders or authorized persons)
1. Proof of Identity (POI)
Is any document which may be used to prove a person's identity. It should be valid. For European citizens, an Identification card is sufficient. For all other’s it should be a passport. In the absence of the passport, the identification with a driving license will be accepted instead.
2. Proof of Residence (POR)
A proof of residence is a document confirming where the client lives. It needs to have both the name of the individual and his/her address printed on it. Such documents are: Recent Utility Bill. This can be water bill, electricity bill, bank statement or bank reference letter, tax bill, municipality bill where home address is shownor,
Bank Statement or
Local Authority Tax Bill or
Any other official document same with the abovementioned.
3. Proof of Bank Account Ownership
If a new client wishes to exchange Cryptocurrency to FIAT, he must also provide proof of ownership of account. Such document is a bank statement where the name and the address match the company’s records