For businesses in the United Arab Emirates 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:
- Trade License: This is the official legal document that registers a business with the local government in the United Arab Emirates. It serves as official recognition of the business’s legal existence and includes essential 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." Below are details tailored to your jurisdiction:
- Memorandum of Association (MOA): This document is crucial for companies in the UAE, detailing the company's structure and operations, including the company’s objectives, shareholder details, share capital, and management structure. It serves as a fundamental document for the internal governance of the company.
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 (like DEWA bill in Dubai), tenancy contracts, or bank statements: To verify the physical presence of the business in the United Arab Emirates, a recent document such as a utility bill (electricity, water), a valid tenancy contract, or a bank statement is required. It should reflect the business's address in the UAE 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.