8
CHby u/chloe65·2hQuestion

KYC/AML for offshore corporate accounts and the UBO

I'm still learning about setting up offshore corporate accounts for a small consulting firm. I understand the basics of KYC/AML, but when it comes to the Ultimate Beneficial Owner (UBO) for these accounts, it feels a bit more complex. What's the common practice or expectation for documentation when the UBO resides in a different jurisdiction than the company's operating base, and the account is with a third-country bank? Are there specific nuances to prove beneficial ownership without raising red flags beyond standard identity proofs?

0 comments · 8 points

0 Comments

No comments yet. Be the first.

More like this