For businesses in Malaysia planning to join Bancoli to streamline their financial operations and global payments, the verification process is an essential step. It requires business documents that play a key role in complying with banking regulations.
The list below is tailored to help you understand the required documents and the type of information each document should contain in order 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 (Sijil Perakuan Pendaftaran): This official legal document registers a corporation with the state. It signifies that the business is a separate legal entity, distinct from its owners. In Malaysia, it includes essential information such as the company name, registration number, and date of incorporation.
- Business Registration Certificate (Sijil Pendaftaran Perniagaan): Issued by the Suruhanjaya Syarikat Malaysia (SSM), this certificate is necessary for all businesses operating in Malaysia. It confirms the business’s legal existence and provides vital details like the business name and registration number.
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:
- Constitution (for companies): This document outlines the rules governing the company's operations, detailing the rights and obligations of members, the distribution of profits, and the structure of company management.
- Partnership Agreement (for partnerships): Essential for partnerships, this agreement specifies the terms of the partnership, including profit sharing, management duties, and partnership operations.
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, or telecommunications), 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.