For businesses in Estonia aiming 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:
- Extract from the Commercial Register (Äriregistri väljavõte): This is the fundamental document for Estonian businesses, serving as the official confirmation of the company's registration and detailing its legal status, registration number, and essential corporate information.
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:
- Operating Agreement (Tegevusleping): Specifies the operational guidelines and agreement among members of limited liability companies, defining the management structure, roles, and responsibilities.
- Corporate Bylaws (Põhikiri): These internal documents outline the governance and procedural rules under which the company operates, including decision-making processes, roles of directors, and officers.
- Partnership Agreement (Partnerlusleping): Outlines the terms of partnership for businesses operating in a less formal structure than corporations, detailing profit sharing, operational roles, and management responsibilities.
- Articles of Incorporation or Organization (Asutus- või Organisatsioonidokumendid): Essential for establishing the company's legal framework, detailing its purpose, structure, and governance.
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:
- Physical business address (Äriettevõtte füüsiline aadress): To verify the physical presence of the business, a document such as a lease agreement or utility bill (water, electricity, or phone) dated within the last 3 months 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.