Due Diligence Requirements
The following is for guidance only and details the required due diligence documentation that our Investors Europe (Mauritius) Limited (“IELM”) will require before a business relationship can be entered into.
A. Private Individuals
Photographic Verification – Correctly certified (see below) copy of one of the following, current documents:
- Current Passport
- Drivers licence bearing a photograph
- Armed forces ID card
Address Verification – Correctly certified (see below) copy of one of the following documents for each individual:
- Utility bill
- Fixed line telephone bill
- Bank statement (credit card statements not acceptable)
- Correspondence from a central or local government department or agency
The above documents should be no more than three months old at the time of application and should be addressed to the applicant and show their residential address. Note regarding PO Box addresses : where an individual resides in a jurisdiction where the use of PO Box addresses is commonplace, IEL are still required to verify the residential address although it is appreciated that it may be impossible to provide the documentation referred to above. In such cases we will require the following:
- A certified copy of the agreement with the Post Office that shows both the PO Box and residential address, or;
- A professional reference from an acceptable person (see list below) confirming the residential address
B. Private company
- Certified copy of the register of Directors and Secretary
- Identity and address verification documents for each of the directors in line with the requirements detailed (above) for Private Individuals
- Certified copy of the list of authorised signatories
- Certified copies of the Certificate of incorporation. Memorandum & Articles of Association and any notification of change of registered office details and/or name change
- Copy of the share register in order to prove beneficial ownership or, if held in nominee, confirmation on who’s behalf the shares are held
- Identity and address verification documents for each beneficial owner holding a 25% or greater share of the company, in line with the requirements detailed above for Private Individuals
C. Private company owned by a trust
Certified copy of the register of Directors and Secretary Identity and address verification documents for each of the directors in line with the requirements detailed (above) for Private Individuals Certified copy of the list of authorised signatories Certified copies of the Memorandum & Articles of Association and any notification of change of registered office details and/or name change Extract from the trust deed showing the relevant parties to the trust Identity and address verification documents for the settlor, in line with the requirements detailed above for Private Individuals
Certifiers
Acceptable persons to certify evidence of identity (suitable certifiers) may include:
- a member of the judiciary, a senior civil servant, school principal, or a serving police or customs officer;
- an officer of an embassy, consulate or high commission of the country of issue of documentary evidence of identity;
- a lawyer or notary public who is a member of a recognised professional body;
- an accountant who is a member of a recognised professional body;
- a director, officer, or manager of a regulated financial services business (e.g. bank) which is operating in a well-regulated jurisdiction.
A suitable certifier must certify that:
- he/she has seen original documentation verifying identity and/ or residential address;
- the copy of the document (which has been certified) is a complete and accurate copy of that original; and
- where the documentation is to be used to verify the identity of an individual and contains a photograph, the certifier must state that the photograph bears a true likeness to the individual concerned
Suggested wording for documents bearing a photograph “I certify that this is a true copy of the original document, of which I have seen, and the photograph bears a true likeness of the bearer”. The certifier must also sign and date the copy document, and provide adequate information so that he/she may be contacted in the event of a query. An adequate level of information must be provided by a suitable certifier including his/her name, position or capacity, full address and a telephone number or email address at which he/she can be contacted.