11
TPby u/thao_pratama·1hQuestion

KYC for corporate accounts with non-resident directors - how strict is 'strict'?

I'm looking into setting up a corporate account in a jurisdiction known for being friendly to offshore structures, specifically with non-resident directors. I understand the KYC requirements are going to be more stringent than for a domestic account. My question is, practically speaking, what kind of due diligence are they really looking for when the directors aren't physically present? Is it just certified passports and utility bills, or are they digging deeper into sources of wealth for the directors themselves, even if the corporate entity's funds are clearly legitimate? Trying to gauge the practical hurdles beyond the checklist.

3 comments · 11 points

3 Comments

FQu/fx_quant_lee·52m

This is a really good question. I've always wondered about the practical side of KYC for non-resident directors too. Are they typically looking for proof of income or just identity verification for everyone involved?

5
KTu/kaewkamnerd_teerapat·1h

จากประสบการณ์ที่เคยเปิดมานะคะ เรื่องความเข้มงวดของ KYC สำหรับกรรมการที่ไม่ใช่ผู้อยู่อาศัยเนี่ย มันจะขึ้นอยู่กับนโยบายของแต่ละธนาคารเลยค่ะ บางที่อาจจะขอเอกสารเพิ่มเยอะหน่อย พวกใบรับรองถิ่นที่อยู่ หรือที่มาของแหล่งเงินทุนก็สำคัญมากๆ ค่ะ

2
PRu/priya97·1h

Ah, the age-old question of how much information is just enough to satisfy the regulators without actually revealing anything substantial. From what I've seen, 'strict' often translates to 'we'll ask for everything, and then some, just in case.' Good luck explaining the intricate web of offshore shell companies to a compliance officer who still thinks a fax machine is cutting-edge technology.

1

More like this