For businesses in Bangladesh aiming to integrate with Bancoli to streamline their financial operations and global payments, the verification process is a crucial step. It necessitates business documents that play a significant role in complying with U.S. banking regulations.
The list below is tailored to help you understand the required documents and the type of information each document should contain to be accurately identified.
Important Note: We strongly recommend that you consult with legal counsel in your jurisdiction to ensure that you obtain the exact documents required for your specific business structure and location.
Legal Formation and Identification Documents
Initially, you will encounter a field requesting a "Certificate of Registration, Certificate of Incorporation, Certificate of Formation, Certificate of Organization, or a similar official document." Below are details for this field's options tailored to your jurisdiction:
- Certificate of Incorporation: This is the official legal document that registers a corporation with the state. It signifies that the business is a separate legal entity, distinct from its owners.
- Trade License (ট্রেড লাইসেন্স): Necessary for all businesses, the Trade License serves as proof of authorization to operate within a specific locality in Bangladesh.
Operational and Governance Documents
Second, you will find a field that requests "Operating Agreement, Corporate Bylaws, Partnership Agreement, Articles of Incorporation or Organization." Below are details tailored to your jurisdiction:
- Memorandum of Association & Articles of Association: These documents are crucial for companies, detailing the constitution, objectives, powers, and constraints of the company. They lay down the rules for the internal management of the company.
- Partnership Deed: Required for partnerships, this document outlines the terms and conditions among the partners, detailing their mutual rights, duties, and liabilities.
Proof of Physical Business Address
Third, you will find a field that requests "Physical business address (e.g., utility bill, credit card bill, bank statement dated within the last 3 months)." Below you will find more detail:
- Utility Bill, Credit Card Bill, Bank Statement: To verify the physical presence of the business, a recent document (dated within the last 3 months) such as a utility bill (electricity, water), credit card bill, or bank statement is required. It should reflect the business's address and can be in the name of the company or one of its legal representatives.
Ensuring that these documents are in order and readily available will facilitate a quicker and more efficient process to complete your business verification process for businesses in Bangladesh to set up their Bancoli accounts. Preparation and clarity regarding these requirements are key to leveraging Bancoli's seamless financial services for global transactions.