SOURCE OF WEALTH DECLARATION Clause Samples
The Source of Wealth Declaration clause requires a party to disclose the origins of their financial assets or funds involved in a transaction. In practice, this means the party must provide documentation or statements that clearly outline how their wealth was accumulated, such as through employment, investments, inheritance, or business activities. This clause is primarily used to ensure transparency, support anti-money laundering efforts, and verify that the funds used are legitimate, thereby reducing the risk of illicit financial activity within the agreement.
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SOURCE OF WEALTH DECLARATION. SOURCE OF WEALTH DECLARATION - Individual SOURCE OF WEALTH DECLARATION - Company Appendix I
SOURCE OF WEALTH DECLARATION. 21 A CERTIFICATION REQUIREMENTS Where certified copies of documents are presented, please note the certification requirements below. Documents may be certified by a bank, accountancy professional, legal professional, notary public or a regulated financial institution. Company / corporate documents may also be certified by the Registry of Companies, the Company Secretary, a director of the company or an officer of the company accompany- ing a similar position. The certifier must sign and date the copy document (indicating his name clearly beneath the signature) and clearly indicate his profession, designation or capacity on it and provide his contact details. All certified documents are to be provided true ink (original) and copies cannot be accepted. Certification of identity documents should be evidenced by a written statement that: the document is a true copy of the original document; the document has been seen and verified by the certifier; and the photo is a true likeness of the holder Certification of other documents should be evidenced by a written statement that the document is a true copy of the original as seen and verified by the certifier.
SOURCE OF WEALTH DECLARATION. To be returned with the subscription form / stock transfer form In the event that there is more than 1 investor or ultimate beneficial owner a separate sheet must be completed for each.