PAA Documents Required for Bank Accounts


Documents Required for Opening of Accounts & Payment Transactions as well as for the Determination of the Beneficial Owner

  1. Forms/Contracts/Documents

1.1 Business Accounts

■ Form „Opening of Accounts“ Online at https://login.cloudaccount.io

■ Form W-8BEN or W-8BEN-E „Information pursuant to the FATCA“

■ Form „Fee Schedule“

■ Form “Agreement on the Use of eBanking with PIN and TAN“

■ Form „Liability of Faxes“

■ Form „E-Banking Terms and Conditions“

■ Form „Power of Information“

■ Form „Liability of Faxes“

 

If you have any questions, please exclusively contact us by email to support@paacapital.com or sign up for a corporate account at www.login.cloudaccount.io

1.2 Debit Card Accounts and Debit Card

■ You can apply independently from the account for an exclusive PrePaid Debit Card at www.priveecard.com. The Privée Card is a brand of the PAA CAPITAL GROUP.

■ Alternatively you can request the issuance after the bank account has been established.

If you have any questions, please exclusively contact support@paacapital.com

Optionally

Within the scope of the risk value assessment, we reserve the right to subsequently request additional customer master data/

documents for all products mentioned above.

All forms must be filled out completely and signed at all marked points by the managing director and any other person who is to

be authorized to operate the account.

In addition to the above-mentioned forms/contracts, identification documents and company documents must be submitted.

1.3 Third Party Verification

■ Please note, PAA CAPITAL uses in some instances third party verification services, such as Moneypolo or Verify-u.

  1. Certifications

Certifications may only be performed by the following persons/institutions:

■ Credit institutions

■ Lawyers/patent agents/auditors/chartered accountants/tax advisers

■ Notaries

■ Employees of the PAA CAPITAL Group

■ Trust Services certified by PAA CAPITAL GROUP

■ “Reliable third parties” according to the agreement concluded with the PAA CAPITAL GROUP

Certifications may only be performed by the above-mentioned persons/institutions within the following states:

■ EU and EEA member states

■ Australia

■ Brazil

■ Special administrative region of Hong Kong of the People’s Republic of China

■ India

■ Japan

■ Canada

■ Republic of Korea (South Korea)

■ Mexico

■ Switzerland

■ Singapore

■ South Africa

■ United States of America

■ French overseas territories (Mayotte, New Caledonia, French Polynesia, Saint-Pierre-et-Miquelon as well as Wallis and Futuna)

■ Aruba

■ Curaçao

■ St. Maarten

■ Bonaire

■ St. Eustatius

■ Saba

■ “UK Crown Dependencies“ (Jersey, Guernsey, Isle of Man)

Certifications must be available in the original and must not be older than 6 months.

These must include the following information:

  1. Remark: “The original was available and the certified document is a true copy of the original.“
  2. Place
  3. Date
  4. First name, last name
  5. Profession
  6. Stamp
  7. Signature

 

  1. Identifcation Documents

In order to identify the managing director and any other person who is to be authorized to operate the account, the certified true

copies (for an explanation, see 2) of the documents listed below will be accepted.

Within the scope of the risk value assessment, we reserve the right to request a simple copy of the beneficial owner.

■ Passport

■ Passport issued on a provisional basis

■ Diplomatic identity card issued by the Federal Foreign Office

■ Identification by third party services, as stipulated in 1.3

Upon request, ID cards may also be accepted in exceptional cases.

If the current address does not appear on one of the above-mentioned identification documents, a current utility bill must be submit-

ted in order to provide additional proof.

  1. Company Documents

In order provide proof of the managing director, the company address, the company register data and of the beneficial owner

(natural person/s), the certified true copies (for an explanation, see 2) of the following documents are, depending on the nature

of the legal form, accepted:

Limited

■ Companies House Extract (Retrieved data must not be older than 6 months.)

■ Memorandum & Articles of Association or Shareholder Certificate

APS/Sarl/S.R.O./S.L./L.D.A./S.R.L./B.V./S.L.U./S.P.

■ Certificate of Registration (Retrieved data must not be older than 6 months.)

■ Articles of Association or List of Shareholders

Inc./N.V./S.A./PLC/S.A. de C.V./A.V.V./F.Z.E./Corporation/S.A.S.

■ Certificate of Registration (Retrieved data must not be older than 6 months.)

■ Partnership Agreement/Articles of Association

■ Bearer shares: The management board’s written confirmation of the allocation and the owners of the share capital

■ Registered shares: Extract from the share register

■ Listed shares: Notification of the security identification number and the respective stock exchange center

LLC/LLP/LP/C.V.

■ Certificate of Registration (Retrieved data must not be older than 6 months.)

■ Partnership Agreement

  1. Important Information

5.1 Copies of the Documents

In general, documents must be submitted either in the German or English language.

Documents in other languages may be accepted upon request.

5.2 Issuance of a Power of Attorney

If a commercial power of attorney is issued by the managing director for a third person in order to open and manage the accounts,

the following aspects are to be observed:

■ Submission as original if the power of attorney is exclusively valid for the PAA CAPITAL GROUP

■ Submission as certified true copy if the power of attorney is valid for all banks

5.3 Declaration of Trust

If a Declaration of Trust which must be issued and signed by the managing director/managing board is submitted, the following

points are to be observed:

■ Submission of the Declaration of Trust as certified copy of the original or as original is accepted

■ Designation of the beneficial owner (natural person)

In case that the shareholder of the account opening company is a fiduciary/trust service company, the following documents must

be submitted  in addition to the Declaration of Trust in order to verify the ownership structure:

■ Certificate of Registration of the fiduciary / trust service company (Retrieved data must not be older than 6 months) to pro-

vide proof of the authority to sign

■ Identification document of the managing director/managing board of the fiduciary/trust service company to provide proof

of the specimen signature

5.4. Licenses

If a license is required to exercise your line of business (e.g. financial service), we require this license as a certified true copy.

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PAA CAPITAL S.E. https://paacapital.net
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Document name: PAA Documents Required for Bank Accounts
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March 26, 2018 08:21 CETPAA Documents Required for Bank Accounts Uploaded by PAA CAPITAL GROUP - contract@paacapital.net IP 84.17.49.192