For businesses in Zambia 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 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 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 fields options tailored to your jurisdiction:
- Certificate of Incorporation or Certificate of Registration (Patents and Companies Registration Agency - PACRA Issuance): This is the official legal document that registers a corporation with the state in Zambia. It signifies that the business is a separate legal entity, distinct from its owners, and includes the company's name, type, 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:
- Articles of Association: These documents are critical for Zambian companies, detailing the company's governance, the responsibilities of directors, the rights of shareholders, and the conduct of company meetings.
- Operating Agreement, Corporate Bylaws, Partnership Agreement: Depending on your business structure in Zambia, these documents provide further insight into your company's internal management strategies, including the financial and functional decisions of the business such as ownership, voting rights, and distribution of profits.
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 in Zambia, 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.