This article details documents that are required for organizations to open an account with Airwallex if your business is registered in Malaysia.
Verification, known as KYC or ‘Know your customer’, is a process that is required by regulators to offer financial services to organizations and individuals. It involves reviewing and maintaining information on parties that use our financial services.
As a Malaysia Company account, you need to prepare the documents below:
- Certificate of Incorporation
- Register of Directors
- Register of Members
- Ownership Structure Chart (if applicable)
- Partnership Disclosure & Declaration Form (if applicable)
- Financial Institution Onboarding Questionnaire (if applicable)
- Authorisation Letter (if applicable)
- ID of UBO (if applicable)
- ID of Authorised Person (if applicable)
- Individual Address Proof (if applicable)
Please ensure the image is clear and readable. The file shall not exceed over 10MB, limited to {PDF, Word, JPG, JPEG, PNG, BMP}.
Company Information
Certificate of Incorporation
Ownership Structure Chart
If the ownership structure of your business could NOT be fully identified through reliable source, please provide us with the most recent shareholder register or ownership diagram that meets the following requirements:
- Full Legal Name and shareholding percentage of the Ultimate Beneficial Owner (any individuals holding with 25% or more ownership share or voting rights);
- Registration country and shareholding percentage of each intermediary shareholding entity
- If there are no individual Ultimate Beneficial Owner, then please declare in the shareholding structure and provide information of the key controller;
- The document should be signed and dated by a director along with his/her printed name; the director's signature can be provided either in handwritten or electronic way (e.g. DocuSign; Adobe Sign);
- The signed document should be issued within 12 months and could not be altered or edited.
Click here to download the example of Ochart
Sample:
Partnership Disclosure & Declaration Form
Please provide a copy of your partnership agreement and make sure the agreement clearly indicates each partner's capital contribution to the partnership (in percentage).
Click here to download the PARTNERSHIP DISCLOSURE & DECLARATION FORM Template
Online Marketplace Onboarding Questionnaire
Click here to download the Online Marketplace Onboarding Questionnaire
Financial Institution Onboarding Questionnaire
If your company is Financial Institution, please follow the guidelines to input the below Questionnaire:
Click here to download the Financial Institution Onboarding Questionnaire
Authorisation Letter
If you are not a director or Ultimate Beneficial Owner (UBO) of the business registered in Singapore, we require that you provide a letter stating you have the authority to act on behalf of the company.
Note: The letter should be signed and dated by a director of your company.
Click here to view the Authorisation Letter Template
If your business has multiple legal entities that are registered in different countries/regions and would like to onboard them all at once, you may use this Global Authorisation Letter Template, instead of using a separate template per each country/region.
Click here to download the Global Authorisation Letter Template
Personal Information
Ultimate Beneficial Owner (UBO)
The "Ultimate Beneficial Owner" of a legal entity is thus:
- One who holds 25% or more of share capital; or
- One who exercises 25% or more of the voting rights; or
- One who exercises ultimate control over the management of the corporation.
Authorised Person
An Authorised Person is authorized to act on behalf of the business.
Personal ID
Please provide images for government-issued, official photo ID, such as passport, and national ID.
Note: Please keep the ID photo clear, with complete edges, no occlusion, no reflection, no watermark, etc. and, it is recommended to lay the document flat and shoot vertically in a well-lit place.
Some valid ID examples are provided below:
1) Passport - All Countries
2) Personal ID - e.g. Malaysia sample
Individual Address Proof
If the authorised person or the ultimate beneficial owner (UBO) is none of the directors of your entity, please provide the address proof of the authorised person/UBO.
The common acceptable address proof will be:
- ID document containing address
- Bank Statement
- Utility Bill
- Phone Bill (from MY telco provider: Celcom, Digi, Maxis, U Mobile, Telekom Malaysia or Time dotCom etc)
- Valid lease
And they should be:
- Recent (less than 3 months old)
- Must show name and address
- Cannot be cropped or blurry