UBO AND KYC COMPLIANCE
Based on the new EU legislation, we are required to collect from all our customers (Virtual Office, Memberships and Rent Office) the necessary legal documentation in regards to KYC (Know Your Customer)for all customers and to identify, for all companies registered on our address, all ultimate UBO’s having 25% or more ownership in our customer’s group structure.
These documents should be delivered within 30 days maximum after the signature of the contract and before moving in, or using our services. They will be then checked on a yearly basis, or at any time the local regulator asks us to do so. In case of changes in the structure (Shareholders / UBO), every customer is obliged, pro-actively, to provide us with the new documentation. Not delivering us accurate, or updated documents will be considered as a breach on customer’s side, and the contract may be claimed for the total amount.
The required documents are the following :
KYC: – Agreement duly signed by a legal representative of the customer’s company, empowered to do so. – Copy of the ID cards of the the legal representative(s) of the company. – Certificate issued by the Chamber of Commerce dated less than 3 months. – Articles of Association of the company. – Last filled annual accounts of the company (when available).
UBO: – UBO form dully signed by the ultimate UBO(s). – Copy of the ID cards of the UBO(s) – Group organization chart certified by a legal representative of the company. – Shareholders’ register of the company up to date.
What is invoiced additionally, once a year, for this legislative compliance work to be done?
The annual cost of this KYC process per company structure with ONE layer amounts to : – 300 EUR for an Office Customer ; – 150 EUR for a Membership ; – 99 EUR for a Virtual Office.
In case of multi-layer companies, an additional fee of 100 EUR per layer per year will be charged.