What does “KYC” mean?

What does it mean an offshore or being an offshore?  Offshore company!

KYC – Know Your Client is a process when incorporation provider requires information on each and every Beneficial Owner, Director and Shareholder. Certain Jurisdictions or banks may require even more information than is mentioned in this article. The bank usually ask for following documents:

 

Natural Person
- Passport
- Proof of residential address

 

Company documents
- Certificate of Incorporation
- Memorandum and Articles of Association
- Certificate of Incumbency
- Share certificate
- Resolution Electing Director

 

Can I open an Anonymous bank account?

 

No, there is no bank offering such a service as “anonymous accounts”. All of the banks are required to get know their client (KYC). While account opening through an Introduction is still possible without a personal appearance of the owner of the company in the bank.

 

Banking secrecy

 

Every single bank in offshore jurisdiction is obliged to keep all information must remain in regards to “KYC – Know Your Client” strictly confidential.

E.g. This is standar process even if the you open Seychelles company.