BUSINESS ACCOUNT

If the client is interested in a possibility to set up an account for his trade (own enterprise), company
or other type of business subject, he needs to prove or submit documents, demonstrating the
following facts (One document may demonstrate more facts simultaneously):

  • Registration number of the company;
  • Registered company name and business name (if it´s different from the registered name);
  • Company Head Office and place of business, if it´s different from the registered office;
  • Directors, managers or other individuals who are authorized to act on behalf of the company;
  • Company decision about designation of a representative who is authorized to gain access to account;
  • The company’s decision to open an account;
  • List of beneficial owners of the company, with the exception of publicly traded companies that are located in the European regulated market or a third market with equivalent requirements on disclosure and transparency;
  • List of registered owners, who act as representatives of the owners (nominee) companies.

It is necessary to deliver the originals or certified copies of all documents that demonstrate the required facts.

Below is the list of corporate documents required for the opening of a Business account:

  • Memorandum and articles of association (activity, description)
  • Certificate of incorporation
  • Certificate of shareholders
  • Certificate of directors and secretary
  • Certificate of registered address – the company address
  • Utility bill for company address (within the last 6 months)
  • Copy of ALL shareholders and director’s passport
  • Utility bill of ALL shareholders/directors’ personal address
  • Board Resolution confirming the Company`s decision about designation of a representative who is authorized to gain access to account and act on behalf of the Company
  • Board Resolution confirming the Company’s decision to open an account

DOCUMENTATION TO DEMONSTRATE:

  • An extract from the Commercial Register;
  • Memorandum of Association;
  • Statuses;
  • Social contract;
  • The form of the decision on the designation of a representative who is authorized to access account;
  • The form of the decision to open an account.

For the individual, who will be using the account on behalf of the company, the following needs to be provided:

  • Power of Attorney
  • Copy of passport of the individual
  • Proof of Residence

 
Note: Under the applicable regulatory framework (General Data Protection Regulation (EU) 2016/679 and Directive 2014/65/EU – MiFID II), the Company shall keep records containing Client personal data, trading information, account opening documents, communications and anything else, which relates to the Client for at least 5 (five) years, after the termination of the Business Relationship with the Client. W here requested by the Competent Authority (the CySEC), unless otherwise provided for by national law, for additional period of up to 7 (seven) years.

PERSONAL ACCOUNT

DOCUMENTS REQUIRED FOR CUSTOMER REGISTRATION

Below is a list with necessary documents, which are required in order for Client’s account to be activated and verify your identity and residence.

Proof of Identity – AUTHENTICATION OF CLIENTS

Copy of one of the following identification documents

  • Passport – the page with the photo (good visibility of MRZ lines);
  • Identity Card – both sides (good visibility of MRZ lines);
  • Driving license – both sides.

A copy must contain:

  • Full name (the same on the Passport/ID);
  • Date of birth (the same on the Passport/ID);
  • The identity document must be valid.

* Address on the identification document may not be identical with the address given at registration

As per Law 188(I)/2007, as amended from time to time, For the Prevention of Money Laundering and Terrorist Financing, Paragraph 66(2):
“It is prohibited for persons engaged in financial or other business activities to open or maintain anonymous or numbered accounts or accounts in names other than those stated in official identity documents.”

Therefore, you are kindly requested to complete your registration with accurate information, corresponding the information on your identity and residence documents.

POR – VERIFICATION OF RESIDENCE OF THE CLIENT

We require a copy of one of the following documents:
A clear copy of a one the following documents, issued within last 6 months, containing your residential address, full name and date of issue of the document:

  • utility bill (landline, water, electricity, gas, internet, waste disposal etc.)
  • a bank statment
  • any governmental issued document
  • a lease agreement along with the receipt

A copy must contain:

  • Full name (the same as on the Password/ID);
  • Address (same as on the Password/ID) ;
  • Date (the document must be issued within 6 months).

THE FOLLOWING DOCUMENTS WILL NOT BE ACCEPTED

  • Insurance (car insurance, etc.);
  • Invoice (mobile, telephone);
  • Handwritten documents.

Please note, that BCM Begin Capital Markets CY Ltd (hereafter “BCM”) reserves its right to require any additional information/documentation, if needed, in order to complete the activation of your trading account. In such case, a BCM Officer will contact you.

As per the relevant Law and Directive: “The cumulative time in which the verification of the identity of a customer/beneficial owner is completed, must not exceed 15 days from initial contact.” “Where the verification of the customer/beneficial owner’s identity has not been completed during the designated timeframe of 15 days, the commencement of a business relationship must be terminated on the date of the deadline’s expiry and all deposited funds must be returned to the customer/beneficial owner, in the same bank account from which they originated The procedure for returning the funds must occur immediately, regardless of whether the customer has requested the return of their funds or not.”

Procedure for activating the client:

Kindly be advised, that your account will be ready for trading only, if it has been activated (all required documentation provided) and funded. You will not able to trade, if the balance of your account is zero.

Note: Under the applicable regulatory framework (General Data Protection Regulation (EU) 2016/679 and Directive 2014/65/EU – MiFID II), the Company shall keep records containing Client personal data, trading information, account opening documents, communications and anything else, which relates to the Client for at least 5 (five) years, after the termination of the Business Relationship with the Client. W here requested by the Competent Authority (the CySEC), unless otherwise provided for by national law, for additional period of up to 7 (seven) years.

OTHER DOCUMENTS

If the client lives with the family and cannot send proof of residence in his name we will ask him to send the following documents from the family member (mother, father, wife and husband):

  • Proof of identification;
  • Proof of residence;
  • in case of mother/father we need a birth certificate of the client;
  • in case of wife/husband we need a marriage certificate.

Kindly note, that the Company does not accept 3rd party payments.

CREDIT CARDS

In order to comply with AML guidelines and regulations, you are required to send us a cleared coloured copy of the front and back side of the credit/ debit card, which you use to deposit into your trading account, so we can verify the origin of funds.

The information, which needs to be visible on the scanned copy is:

  • the card holder`s name;
  • expiration date of the card;
  • signature on the back side of the card; 
  • first 4 and the last 4 digits of your card number (for your safety of funds we highly recommend, that you cover the middle 8 digits of the credit/ debit card number, as well as the CVV2 code on the back side of your card)

Clients with high activity on their trading account (account) will be asked to send DOD (Declaration of Deposits).

Kindly note, that a scanned copy of the front and back side of your credit/debit card will not be required, if you proceed with a wire transfer deposit. In such case, you are required to provide us with a copy of the transfer receipt/SWIFT.