FILTERS:

Fica Guidelines - application thereof

9 October 2003


Individual


Aspect
What to do
Identification Obtain and photocopy identity document or valid passport
- Full names
- Date of birth
- Identity/Passport number
Residential address Obtain and photocopy
- Any document reflecting the person's name and residential address
Income tax registration number Obtain and note
- Income tax number, if issued to the client

(Not mandatory to obtain and verify - currently exempt)
Source of income/funds Record
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Foreign national


Aspect
What to do
Identification Obtain and photocopy valid passport
- Full names
- Date of birth
- Passport number
- Nationality
Residential address - Not applicable
- (Residential address details do not need to be verified for foreign nationals)
Income tax registration number Not applicable
Source of income/funds Record
- Source of income; and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Minors
(An individual who has not attained the age of majority as determined by local laws and acting in their personal capacity)


Aspect
What to do
Identification Obtain and photocopy identity document or valid passport
Minor
- Full names
- Date of birth
- Identity/passport number

Guardian
- Full names
- Date of birth
- Nationality (if not SA)
Residential address Both minor's and guardian's residential address details to be verified as per "Individual" category
Income tax registration number Obtain
- Income tax number, if issued to the client

(Not mandatory to obtain and verify - currently exempt)
Source of income/funds Record
- Source of income; and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Partnership

Aspect
What to do
Identification Obtain and photocopy
- Partnership agreement (reflecting the name of the partnership)

For all partners and authorised signatories (related parties)
- As per mandatory identification for "Individual" category if partner is a citizen of or resident in South Africa
- As per mandatory requirements for "Foreign national" category if partner is a foreign national
- As per mandatory requirements for "Partnership", "Close Corporation", "Listed Company", "Unlisted Company" and "Trust and other legal entity" categories where applicable
Residential address Not required for the partnership but...

For all partners and authorised signatories (related parties)
- As per mandatory requirements for "Individual" category if partner is a citizen of or resident in South Africa
- Not applicable if partner is a foreign national
- As per mandatory requirements for "Partnership", "Close Corporation", "Listed Company", "Unlisted Company" and "Trust and other legal entity" categories where applicable
Income tax registration number Not required for the partnership but...

For partners and authorised signatories (related parties):
- As per mandatory requirements for "Individual" category if partner is a citizen of or resident in South Africa
- Not applicable if partner is a foreign national
- As per mandatory requirements for "Partnership", "Close Corporation", "Listed Company", "Unlisted Company" and "Trust and other legal entity" categories where applicable
Source of income/funds Record
- Source of income; and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Close Corporation

Aspect
What to do
Identification Obtain and photocopy
- Founding statement/Certificate of Incorporation (Form CK1) and Amended Founding Statement (Form CK2) (if applicable) showing the registered name and number
- Trade name (Any document reflecting the trade name)

For members/persons who act on behalf of the CC/Authorised signatories
- (Obtain from the resolution who may sign on behalf of the CC)
- As per mandatory identification for "Individual" category if partner is a citizen of or resident in South Africa
- As per mandatory requirements for "Foreign national" category if partner is a foreign national
Business address (Will be apparent from the Identification procedure)

For members/persons who act on behalf of the CC/Authorised signatories
- Not applicable
Income tax registration number Obtain and note
- Income tax number, and
- VAT registration number
(If issued in both instances, but NOT mandatory - currently exempt)

For members/persons who act on behalf of the CC/Authorised signatories
Not applicable
Source of income/funds Record
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Listed Company - Ltd

Aspect
What to do
Identification Obtain and photocopy
- Printout from the applicable exchange's website confirming listing, or
- group structure, or
- any document that proves listing

Obtain
- Registered name
- Registration number (Verification not required)

Persons who act on behalf of a listed company
- Written confirmation that the person may act on behalf of the listed company to be obtained
Residential address Obtain and photocopy
- Physical business address to be obtained (verification not required)

Persons who act on behalf
- Physical business address (verification not required)
Income tax registration number Not applicable



Persons who act on behalf
Not applicable
Source of income/funds Record
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship


Unlisted Company - (Pty) Ltd

Aspect
What to do
Identification Obtain and photocopy
- Certificate of Incorporation (Form CM1) and Notice of Registered Office and Postal Address (Form CM22) both bearing the Registrar of Companies stamp (reflecting registered name of the company and the registration number)
- Trade name (any document reflecting the trade name)


For shareholders (25% of the voting right)/ Persons who act on behalf of the Company/Authorised Signatories/Principal Executive Officer (Obtain the resolutions indicating who may sign on behalf of the Company)

- As per mandatory identification for "Individual" category if person is a citizen of or resident in South Africa
- As per mandatory requirements for "Foreign national" category if person is a foreign national
- As per mandatory requirements for "Partnership", "Close Corporation", "Listed Company", "Unlisted Company" and "Trust and other legal entity" categories where applicable
Residential address Obtain and photocopy
- Physical business address to be obtained (verification not required)


Persons who act on behalf
Physical business address (verification not required)
Income tax registration number Obtain and note
- Income tax number, and
- VAT registration number

(If issued in both instances, but NOT mandatory - currently exempt)

Related parties
- No income tax details required for individuals
Source of income/funds Record
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship (applicable to all)


Trusts

Aspect
What to do
Identification Obtain and photocopy
- Trust Deed or other founding document reflecting the identifying name of Trust/identifying number of the Trust/names of beneficiaries
- List of authorised trustees (authorisation given by the master's office to each trustee to act in that capacity)


Trustees/Beneficiaries/Authorised signatories/Settler/Founder/Persons who act on behalf of the trust
- As per mandatory identification for "Individual" category if individual is a citizen of or resident in South Africa
- As per mandatory requirements for "Foreign national" category if individual is a foreign national
Residential address Obtain and photocopy
- Address of the Master's office where the trust is registered


Not required for related parties
Income tax registration number Obtain and note
- Income tax number, and


(If issued, but not mandatory - currently exempt)

Trustees/Beneficiaries etc
- No income tax details required for these parties
Source of income/funds Record
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship (applicable to all)


Other legal entities (eg Clubs, Associations etc)

Aspect
What to do
Identification Obtain and photocopy
- Constitution of founding document (reflecting the name of the legal entity and its legal form


Persons who act on behalf of the legal entity/Authorised signatories
- Identification as per mandatory identification for "Individual" category
Residential address Obtain and photocopy
- Physical business address as per constitution or founding document


Related parties
Not required
Income tax registration number Obtain and note
- Income tax number (if issued);
- VAT registration number (if issued)

Related parties
- No income tax details required for individuals
Source of income/funds Record the following:
- Source of income, and/or
- Source of funds which client will use to conclude the transaction(s) in the course of the business relationship (applicable to all)





Notes
This table is based on a number of sources and serves as an explanation to the Financial Intelligence Centre Act 38 of 2001. GhostDigest cannot accept liability for any errors contained in or information omitted from, it.

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