Verifying your business in Malaysia

Verification, known as KYC or ‘Know your customer’, is a process that is required by regulators to offer financial services to organisations and individuals. It involves reviewing and maintaining information on parties that use our financial services.

Below, we have provided details on the documents that are required for organisations to open an account with Airwallex in Malaysia.

As a Malaysia Company account, you need to prepare the documents below:

Please ensure the image is clear and readable. The file shall not exceed over 10MB, limited to {PDF, Word, JPG, JPEG, PNG, BMP}. 

 

1. Company Information

 

Certificate of Incorporation

Cert_of_Incorp.jpg

Register of Directors

Register_of_Directors.jpg

Register of Members

Register_of_Members.jpgOwnership Structure Chart

We need more information to understand your shareholding structure. Please provide an equity or ownership chart.

Note: The following conditions need to be met:

1. Signed and dated by the director

2. Include all individuals who hold more than 25% of the shares or voting rights

3. Include a shareholding ratio

4. Show the registered location of the shareholding entity

 

Click here to download the example of Ochart

Sample:

mceclip0.png

 

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).
 

 

 

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 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 by a director of your company. 

Click here to view the Authorisation Letter Template

 

2. Personal Information

 

Ultimate Beneficial Owner (UBO)

The "Ultimate Beneficial Owner" of a legal entity is thus:

- one who holds over 25% of share capital; or

- one who exercises over 25% of the voting rights.

Authorised Person

An Authorised Person is authorised to act on behalf of the business.

Personal ID 

Please provide images for government-issued, official photo ID, such as passport, national ID.

Some valid ID examples are provided below:

1) Passport - All Countries

Please note: Passport photos need to be clear, with complete edges, unobstructed content, and no interference such as reflections. At the same time, it is recommended to lay the ID card flat and shoot vertically in a well-lit place

MY_Passport.jpeg

2) Personal ID - e.g. Malaysia sample

ic-sample.jpg

page-red-ic.jpg

 

Individual Address Proof

If the authorised person is none of the directors of your entity, please provide the address proof of the authorised person.

The common acceptable address proof will be:

  1. Bank Statement
  2. Utility Bill
  3. Phone Bill (from MY telco provider: Celcom, Digi, Maxis, U Mobile, Telekom Malaysia or Time dotCom etc)

And they should be:

- Recent (less than 3 months old)
- Must show name and address
- Cannot be cropped or blurry

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