FAQ KYC Check

KYC stands for „Know Your Customer”. As DIMOCO has a Payment service act license from the Austrian Financial Market Authority (FMA) and is obliged to check all companies before starting a business relationship..

Ultimate Beneficiary Owner – It is a person within the parent company that owns or controls over 25% of the company shares (first line, 50 % in all following lines), has the right to exercise significant control over the company and/or has the right to remove the majority of the board of directors. A UBO is formally defined as a person with significant control at the ‘top of a tree’ in a business. A legal entity may also have more than one ultimate beneficial owner, but a legal entity can never be an ultimate beneficial owner under the law.

 

As DIMOCO has a Payment service act license from the Austrian Financial Market Authority (FMA) all companies have to be checked before starting a business relationship. In order to be able to perform a KYC Check, DIMOCO is obliged to verify all information from the Customer Data Sheet on the basis of valid and meaningful documents.

Company Register extract

As a Proof of Directors and Registered Company Address an up-to-date Company Register Extract is needed and valid for KYC as long as it is not older than 6 weeks per max. and written or translated into English or German language.
In case a company register extract is not available in the country your company is located you can also provide an equivalent document. (e.g. notarized letter).

Excerpt of the local register of the Ultimate Beneficial Owner

For every company situated within the European Economic Area (EEA), the UBO register extract is needed in addition.

Share Certificate

As proof of Ownership we require an official Share Certificate of your company and any shareholding company involved. This also applies for any further shareholding companies of shareholding companies. The line of ownership needs to be documented until the natural persons – known as ultimate beneficiaries of significant control – can be defined or until it can be proven by official documents that no ultimate beneficiaries can be defined (for example at controlled stock listed companies).

Copy of official ID

Please provide a passport or ID card of your executive officers and authorized signatories for purpose of identification.

Copy of utility bill

Please provide a utility bill (electricity, water or gas invoice) which is not older than three months. This is needed to confirm the personal address of the company’s executive officers and authorized signatories.

Certificate of residency

In case the company is a natural person we ask for your certificate of residency.

Specimen of signature

Just in case the passport or any other personal document of the authorized signatories has no official signature, you have to provide a specimen of signature.

Authorization / Power of Attorney

Please proof that the authorized signatories, especially the one who signs the Customer Data Sheet (CDS), are signing and acting for and in behalf of your company.

Organization Chart

If your company is part of a company group please provide an org chart including shares.

Personal Documents for legal representatives

Scans of International Passports, scans of European ID Cards are required from all Legal representatives for purpose of identification. Additionally, required are so called Utility bills (e.g. electricity/water/gas invoices) to confirm the personal addresses, which must not be older than three months.

Personal Documents for Ultimate Beneficial Owners (UBO)

Scans of International Passports or scans of European ID Cards are required from all UBOs for purpose of identification.

The proof of Bank Account (ProBA) can either be a bank confirmation, an account opening letter, a statement scan or an online banking screenshot. While sensitive figures can certainly be blackened out, Details of Bank, Account and Holder must be clearly visible in any case. It is needed to confirm, that the bank account is owned by the company.

The answer is no.
We are legally obliged to get up-to-date documents to be able to make a “Know Your Customer-Check” (KYC Check). Even if the document is only 1 week older than stated in point 25. of the CDS.

The answer is no.
As DIMOCO has a Payment service act license from the Austrian Financial Market Authority (FMA) and is obliged to check all companies and the relevant bank accounts before starting a business relationship to avoid money laundry or financing of terrorism.

The answer is yes.
Only when all documents are available DIMOCO can perform the KYC check. At this point, the documents must not be older than specified in the Customer Data Sheet (CDS).

The answer is no.
Only official documents can be presented as confirmation.

Please provide a register of shares, or a share certificate (or any other official document) which proofs the beneficial ownership of the company’s ultimate beneficial owner (UBO).

The answer is no.
The translation can be done by a translation office. This has then to be certified by a notary.

The answer is no.
As DIMOCO has a Payment service act license from the Austrian Financial Market Authority (FMA) and is obliged to check all companies before starting a business relationship.

Dimoco is not allowed to add/change any information in the CDS (not even ticking checkboxes).

In case of no existing trustee agreement involved in the company structure, please tick the first check box and leave the rest empty.
If there is any valid Trustee agreement involved in the company structure, it must be stated accordingly in point 26. of the CDS. Please tick the second check box and fill in accordingly the boxes below and tick the way how the trustor(s) has/have been identified by the trustee(s). In addition, please provide the trustee´s signed confirmation, that he has identified the trustor.

Identification via bank transfer is only possible for customers from European Economic Area (EEA).
For any other country online video identification must be chosen.