For businesses in Bahrain 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 field's options tailored to your jurisdiction:
- Certificate of Registration (شهادة التسجيل | Shahadat al-Tasjeel): This document is crucial for businesses in Bahrain, acting as the official recognition of a business’s legal existence. It encompasses vital details such as the business name, registered address, and information on its legal representatives.
Operational and Governance Documents
Second, you will find a field that requests "Operating Agreement, Corporate Bylaws, Partnership Agreement, Articles of Incorporation or Organization." Bahrain primarily focuses on commercial registration processes rather than specific operating agreements or corporate governance documents typically required in other jurisdictions. Businesses should ensure their commercial registration is up to date and accurately reflects their current 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: To verify the physical presence of the business, a recent document such as an electricity or water bill is required. It should reflect the business's address within Bahrain and can be in the name of the company or one of its legal representatives.
- Credit card bill, Bank Statement: Similarly, a credit card bill or bank statement serves as proof of the business’s physical location. These documents must be dated within the last 3 months and should include the address of the business in Bahrain.
Ensuring that these documents are in order and readily available will facilitate a quicker and more efficient process to complete your business verification process with Bancoli.