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Account Opening Documents

Account Opening Documents

As per regulations, we are required to know our customers (KYC). We therefore will need you to submit your documents in order to have your account verified and limits lifted off from it. The documents you will be required to submit are dependent upon the account that is being created.

Below you will find some of the types of accounts that you can be able to open up and the required documents for each. You can jump to particular sections of these documents by using the following links below:

  1. Individuals
  2. Limited Companies
  3. Sole Proprietor
  4. Savings and Credit Cooperatives (SACCOs)/Non-deposit taking microfinance institutions/ /Money Lending companies
  5. Non-Governmental Organizations
  6. Community based organizations, Clubs and Associations
  7. Faith Based Organizations – Churches, Mosques etc
  8. Schools, Education Institutions
  9. Partnerships
  10. Embassies
  11. Trusts
  12. Political Parties
  13. Ministries/Public Sector/Government
  14. Banks Financial Institutions
  15. Why should you submit your documents?
  16. How do you submit documents to The Great Seven?

IMPORTANT: It is important that the necessary documents are submitted correctly as without correct documentations, your account will be limited in transactions.

What kind of documents can you submit to The Great Seven?

INDIVIDUALS

The following documents are required to be submitted by the applicant in the process of creating an account for individuals

  1. Identification Documents (Acceptable IDs)
    • National IDs, Passports, Employment ID, Driver’s License and NSSF Card. Preferred ID ➢ National ID
    • Passports are the ONLY acceptable form of identification proof for foreign nationals and Work Permit/Certificate of residence
    • FATCA form for US Nationals
    • Refugees: Refugee ID Minors: The minor’s information, birth certificate/Health cards and photos must be obtained. While the minor’s Guardian who will operate the account MUST provide Individual requirements
    • Students: National ID/Student ID
  2. Proof of residence/ address verification include any of the following
    • Letter from a public authority or embassy or consular office
    • Utility Bills in the customer’s name and not older than 3 months
    • Where utility bill is not in the name of the customer obtain a copy of the tenancy agreement
    • Letter of recommendation from employer
    • LC Letter confirming residence
    • Letter from School/ University administration in case of students
    • Bank statement from existing or previous bank bearing the current customer’s address.
    • Certificate of residence for foreigners
  3. Proof of Income/Source of Income
    • Letter of recommendation/appointment/confirmation from employer
    • Payslip not older than 3 months
    • Declaration of Income form
    • Trading License
    • Work Permit (only applicable to Foreign Nationals)
    • Financial statements for a company older than a year
    • Memorandum/Articles of association for a company that has been in existence for less than a year
LIMITED COMPANIES

The following documents are required to be submitted by the applicant in the process of creating an account for Limited Companies

  1. Certified board resolution to open account stating authorized signatories
  2. Certificate of Incorporation certified by the Company Registrar
  3. Certified Memorandum and Articles of Association
  4. Certified Particulars of Directors and Secretaries i.e. Form 20 (formerly form 7)/Notification of change of directors and company secretary
  5. Certified copy of Particulars of Business Address i.e Form 18 (formerly form A9)
  6. Trading License. A company licenced under a different law, should submit a copy of the applicable license
  7. Tax Identification Number (TIN), or Tax Exemption Certificate
  8. Company search
  9. Identity Documents of related parties and beneficial owner.
    A beneficial owner is an individual with shareholding > 10%, A related party is a Director and authorized Account Signatories.
    • Letter of recommendation/appointment/confirmation from employer
    • Payslip not older than 3 months
    • Declaration of Income form
    • Trading License
    • Work Permit (only applicable to Foreign Nationals)
    • Financial statements for a company older than a year
    • Memorandum/Articles of association for a company that has been in existence for less than a year
SOLE PROPRIETOR

The following documents are required to be submitted by the applicant in the process of creating an account for sole propretors

  1. Certificate of registration of Business Name Certified by the Company Registrar
  2. Statement of particulars pursuant to the registration of business name
  3. Trading License
  4. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • a letter from a public authority or embassy or consular office
SAVINGS AND CREDIT COOPERATIVES (SACCOS)/NON-DEPOSIT TAKING MICROFINANCE INSTITUTIONS/MONEY LENDING COMPANIES

The following documents are required to be submitted by the applicant in the process of creating an account for SACCOS
  1. Certified copy of the certificate of registration of the SACCO issued under Cooperatives Societies Act
  2. License from Tier 4 Microfinance Institutions Authority
  3. Constitution/ By Laws or Certified Memorandum and Articles of Association of the entity
  4. Identity Documents of Primary and related parties such as Directors and Account Signatories. (National ID for nationals OR Passport for Foreigners OR Refugee ID for refugees)
  5. Minutes authorising account opening and appointing current management and signatories
  6. Letter requesting for account opening stating signatories
  7. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • A letter from a public authority or embassy or consular office.
    • Proof of Address i.e. Certified copy of company form 18 (formerly A9)
NON-GOVERNMENTAL ORGANISATIONS
The following documents are required to be submitted by the applicant in the process of creating an account for NGOs.
  1. Certified Copy of License from the NGO board
  2. Certified copy of Certificate of Registration/Incorporation
  3. Constitution/ By Laws Or Certified Memorandum and Articles of Association
  4. Registered resolution indicating the current Board members/Executive committee & period of validity in office. In case of any change another resolution and Minutes electing the current sitting Board should be shared
  5. Authorization to Open account duly signed by Board Members/ Executive committee stating signatories
  6. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
    • National IDs, Passports, Employment ID, Driver’s License and NSSF Card. Preferred ID > National ID
    • Passports are the ONLY acceptable form of identification proof for foreign nationals and Work Permit/Certificate of residence
    • FATCA form for US Nationals
    • Refugees: Refugee ID Minors: The minor’s information, birth certificate/Health cards and photos must be obtained. While the minor’s Guardian who will operate the account MUST provide Individual requirements
    • Students: National ID/Student ID
COMMUNITY BASED ORGANIZATIONS, CLUBS AND ASSOCIATIONS

The following documents are required to be submitted by the applicant in the process of creating an account for CBOs, Clubs and Associations
  1. Authorization to Open account duly signed by Board Members/ Executive committee stating signatories
  2. Minutes of meeting resolving to open the account and stating signatories
  3. Constitution/ By Laws or Certified Memorandum and Articles of Association
  4. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • a letter from a public authority or embassy or consular office
    • Proof of Address i.e. Certified copy of company form 18 (formerly A9)
FAITH BASED ORGANISATIONS – CHURCHES, MOSQUES etc

The following documents are required to be submitted by the applicant in the process of creating an account for FBOs, Churches and Mosques
  1. A recommendation letter to open an account from the Vicar/Secretariat of the religious faith for the mainstream churches/mosques
  2. Authorization to Open account duly signed by Board Members/ Executive committee stating signatories
  3. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  4. Constitution/Charter
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • a letter from a public authority or embassy or consular office
SCHOOLS, EDUCATION INSTITUTIONS

The following documents are required to be submitted by the applicant in the process of creating an account for Schools, Education Institutions
  1. School Registration Certificate issued by Min of Education & Sports for private institutions
  2. License from the Ministry of Education for private institutions
  3. Authorization to Open account duly signed by District or Town representative (CAO or District Education Officer or Town Clerk) OR Board Members/ Executive committee stating signatories
  4. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • A letter from a public authority or embassy or consular office
PARTNERSHIPS

The following documents are required to be submitted by the applicant in the process of creating an account for partnerships
  1. Certified Certificate of Registration
  2. Certified copy of Partnership Deed
  3. Certified Statement of particulars pursuant to the registration business name.
  4. Authorization to Open account duly signed by Partners stating signatories.
  5. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees).
  6. Tax Identification Number (TIN), or Tax Exemption Certificate where applicable
  7. Trading/Operating License.
  8. Proof of Address any of the following below can be obtained;
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • A letter from a public authority or embassy or consular office
EMBASSIES
The following documents are required to be submitted by the applicant in the process of creating an account for Embassies
  1. Authorization to Open account duly signed by the Ambassador stating Signatories.
  2. Identity Documents of Primary and related parties, Directors, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees).
  3. Proof of Address any of the following below can be obtained;
    • Recent Utility bills not older than three months,
    • Bank Statement bearing customer’s address.
    • Tenancy or Lease Agreement
    • Letter of authorization to open account indicating address on letterhead
  4. Tax Identification Number (TIN), or Tax Exemption Certificate
  5. Group Sanctions Desk Authorisation
TRUSTS

The following documents are required to be submitted by the applicant in the process of creating an account for individual
  1. Certified Certificate of registration
  2. Certified copy of Trust Deed
  3. Certified Resolution/ Authorization to Open account stating signatories
  4. Identity Documents of persons having senior management positions or trustees of the trust, Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
POLITICAL PARTIES

The following documents are required to be submitted by the applicant in the process of creating an account for Political Parties
  1. A certified copy of their registration Certificate from the Electoral Commission.
  2. A certified copy of the party Constitution that is filed with the Electoral Commission.
  3. A Resolution of the party to open an account stating signatories
  4. Identity Documents of the Party President, Secretary General and Treasurer of the party and account signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees).
  5. Proof of Address any of the following below can be obtained
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
    • Letter of authorization to open account indicating address on letterhead
MINISTRIES/PUBLIC SECTOR/GOVERNMENT

The following documents are required to be submitted by the applicant in the process of creating an account for ministries/public sector/government
  1. Letter requesting for opening of account signed by: Town Clerks/Permanent Secretaries/Chief Administrative Officer (CAO)/Executive Directors stating signatories
  2. Letter of authorization for account opening from the Accountant General or Board of the Public-Sector entity.
  3. Identity Documents of Directors and Account Signatories (National ID for nationals OR Passport for Foreigners OR Refugee ID and Refugee attestations for refugees)
  4. Proof of Address any of the following below can be obtained
    • Letter of Authorisation indicating address
    • Recent Utility bills not older than three months
    • Bank Statement bearing customer’s address
    • Tenancy or Lease Agreement
  5. Proof of residence/ address verification include any of the following
    • Letter from a public authority or embassy or consular office
    • Utility Bills in the customer’s name and not older than 3 months
    • Where utility bill is not in the name of the customer obtain a copy of the tenancy agreement
    • Letter of recommendation from employer
    • LC Letter confirming residence
    • Letter from School/ University administration in case of students
    • Bank statement from existing or previous bank bearing the current customer’s address
    • Certificate of residence for foreigners
  6. Proof of Income/Source of Income
    • Letter of recommendation/appointment/confirmation from employer
    • Payslip not older than 3 months
    • Declaration of Income form
    • Trading License
    • Work Permit (only applicable to Foreign Nationals)
    • Financial statements for a company older than a year
    • Memorandum/Articles of association for a company that has been in existence for less than a year

BANKS/FINANCIAL INSTITUTIONS

The following documents are required to be submitted by the applicant in the process of creating an account for Banks/financial institutions
  1. Certified Certificate of Incorporation (Notarised for foreign banks)
  2. Certified List of Directors and Secretary/Trustees i.e. Form 7/20 (Notarised for foreign banks)
  3. Certified Memorandum and Articles of Association. (Notarised for foreign banks)
  4. Latest Annual Report
  5. Valid Operating License issued by the respective regulator
  6. Profile of Senior Management and Board
  7. Proof of Address i.e. Certified copy of company form 18 (formerly A9) or License indicating address for foreign banks/extract from the regulators website indicating the bank’s address
  8. Certified Board Resolution/ Authorization to open account/SWIFT request for foreign banks
  9. Tax Identification Number (TIN), or Tax Exemption Certificate / W8-BEN form
  10. Copy of the AML policy
  11. Wolfsberg Questionnaire (Not older than 6 months)

Why should you submit your documents to The Great Seven?
  • They act as proof of Identification
  • They help protect your funds
How do you submit documents to The Great Seven?

Attaching and submitting your documents to The Great Seven is so easy. The following are the instructions to guide you on how to submit your documents
  • Login to your The Great Seven Account
  • Navigate and click on your name at the top right hand corner
  • Select my profile from the drop down menu
  • Locate and click on the documents tab
  • Navigate and click on the Add button
  • Enter the details such as the subcategory, document name and some comments
  • Click on Save Document
For more information, please email us on sales@theg7.com or call us on (256) 414 670513