Downloads

chat
Ask Fund Manager
Sending

List of Required Documents for Account Opening & KYC

  1. Duly filled and signed Account Opening Form (including KYC and FATCA Section). Joint Account Holder/ Ultimate Beneficiary (if any) shall be required to fill separate KYC and FATCA Form.
  2. Duly filled and signed CRS-1 Form of Principal Account Holder and Joint Account Holder (if any).
  3. Valid and legible copy of identity document of Principal Account Holder and Joint Account Holder/ Ultimate Beneficiary (if any). Identity document for local individual includes Computerized National Identity Card (CNIC), National Identity Card for Overseas Pakistani (NICOP), Pakistan Origin Card (POC) and Alien Registration Card (ARC). Identity document for foreign national individual includes Passport having valid visa on it or any other proof of legal stay along with Passport.
  4. In case of an Individual Investor with shaky/immature signatures, in addition to identity document, a passport size photograph of the account holder will be obtained.
  5. If the residential address of the Individual Investor is different from the addresses mentioned on his/her identity document then a copy of latest Utility Bill paid/ Bank Statement/ Rental Agreement for verification of residential address shall be obtained.
  6. Latest and valid Source of Funds document(s) justifying the amount of investment/account balance. List of required Sources of Funds documents is provided below:
S.No. Source of Funds Required Documents
1 Income from Salary
  • Mandatory for all Salaried Investors:

An attested copy of Service Card or Job Card or Certificate/Letter on letter head of the employer.

(You can get the copy attested by your Human Resources/Payroll Department or show original document to our Sales Person who will mark “Original Seen” on the copy with his/her signature).

 

  • Mandatory for PEPs and Salaried Investors having account balance of Rs. 10 million or above:

An attested copy of Salary Slip or Employment/Appointment Letter showing remuneration package.

(You can get the copy attested by your Human Resources/Payroll Department or show original document to our Sales Person who will mark “Original Seen” on the copy with his/her signature).

2 Home Remittance
  • Proceeds Realization Certificate (PRC); or
  • Swift Slip; or
  • Any other valid documentary evidence to justify the amount of remittance.
3 Inheritance
  • Notarized copy of Succession Certificate/ Heirship Certificate issued by competent Court; or
  • Notarized copy of decision taken by Punchayat/ Mahalla Committee duly attested by Gazetted Officer of 17 Grade or above; or
  • Duly executed Will/ Gift Deed/ Transfer Deed as applicable; or
  • Any other valid documentary evidence to justify the investment amount including but not limited to Bank Statement of at least previous six (6) months or copy of latest income tax return and wealth statement, etc.
4 Savings/ Investments
  • Latest and valid documentary evidence to justify investment amount such as Bank Statement of at least previous six (6) months or copy of latest income tax return and wealth statement or any other valid evidence of Savings/Investments.
5 Rental Income
  • Copy of rental agreement justifying the amount of investment.
6 Disposal of Property
  • Copy of Sale deed/ Gift deed/ Transfer deed justifying the amount of investment.
7 Agriculture Income
  • Copy of Passbook for agriculture property; and
  • Copy of latest income tax return and wealth statement or Bank Statement of at least previous six (6) months or any other latest and valid documentary evidence to justify investment amount.
8 Business Income of Sole Proprietor
  • Declaration of sole proprietorship on business letter head;
  • Account opening requisition on business letter head;
  • Copy of registration certificate in case of registered concerns;
  • Copy of certificate or proof of membership of trade bodies etc., wherever applicable;
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address; and
  • Any valid documentary evidence to justify the amount of investment such as Bank Statement of at least previous six (6) months or copy of latest income tax return and wealth statement or latest financial statements, etc.
9 Retirement Benefits
  • Copy of Retirement Letter/ Settlement Letter/ Pension Book to justify the amount of investment.
10 House Wife receiving funds from husband/ children/ blood relatives
  • Duly filled KYC Form of the provider of the funds; and
  • Documentary evidence for source of funds of the provider as mentioned in 1 to 9 above.
11 Student (18 years old or above) receiving funds from his/her blood relatives
  • Copy of Student ID card issued by Educational Institute;
  • Duly filled KYC Form of the provider of the funds; and
  • Documentary evidence for source of funds of the provider as mentioned in 1 to 9 above.
12 Minor receiving funds from his/her Guardian
  • Photocopy of Child Registration Certificate (CRC/Form-B), Family Registration Certificate (FRC), Birth Certificate or Student ID card (as appropriate);
  • Duly filled KYC Form of the Guardian; and
  • Documentary evidence for source of funds of the Guardian as covered in 1 to 9 above.
  1. If payment instrument (Cheque/ Payment Order/ Demand Draft) is issued by any third party in favour of the Individual Investor then following document shall be provided:
    1. No Objection Declaration (NOD) from the Payment Instrument Issuer in favour of the Individual Investor;
    2. KYC Form duly filled by the Payment Instrument Issuer; and
    3. Documentary evidence for source of funds of the Payment Instrument Issuer.
S.No. Nature of Account Required Documents
1 Sole Proprietorship
  • A photocopy of CNIC/ SNIC/ NICOP/ POC/ ARC (in case of local individuals only) or a photocopy of Passport having valid visa on it or any other proof of legal stay along with Passport (in case of foreign national individuals only) of the Proprietor.
  • Copy of registration certificate for registered concerns.
  • Copy of certificate or proof of membership of trade bodies etc., wherever applicable.
  • Declaration of sole proprietorship on business letter head.
  • Account opening requisition on business letter head.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address.
  • Any documentary evidence about its annual income such as Bank Statement of at least previous six (06) months or copy of latest income tax return and wealth statement or latest financial statements, etc.
2 Partnership
  • Photocopy of identity document as per Serial No. I (a) above of all Partners and Authorized Signatories.
  • Attested copy of Partnership Deed.
  • Attested copy of Registration Certificate with Registrar of Firms. In case the partnership is unregistered, this fact shall be clearly mentioned on the Account Opening Form.
  • Authority letter from all partners, in original, authorizing the person(s) to operate firm’s account.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address.
  • Latest documentary evidence to justify investment amount such as Bank Statement of at least previous six (6) months or copy of income tax returns or latest financial statements, etc.

[In case of Partnership, attestation means attestation of notary public]

3 Limited Liability Companies/ Corporations
  • Photocopy of identity document as per Serial No. I (a) above of all Directors and persons authorized to open and operate the account.
  • Certified copy of Resolution of Board of Directors for opening of account specifying the person(s) authorized to open and operate the account.
  • Certified copy of Memorandum and Articles of Association.
  • Certified copy of Certificate of Incorporation.
  • Certified copy of Certificate of Commencement of Business (wherever applicable).
  • Certified copy of List of Directors on “Form A/ Form B” issued under Companies Act, 2017 and Form-29, wherever applicable.
  • Copy of latest available Audited Financial Statements in case of Listed Companies only.
  • Copy of latest available Financial Statements filed under the Section 234 of the Companies Act 2017 in case of other companies.
  • Details of beneficial ownership on Account Opening/KYC Form.

Notes:

  • The condition of obtaining Board Resolution is not necessary for foreign companies/entities belonging to countries where said requirements are not enforced under their laws/regulations. However, such foreign companies will have to furnish Power of Attorney from the competent authority for establishing Business Relationship to the satisfaction of the regulated person.
  • The condition of obtaining photocopies of identity documents of directors of Limited Companies/ Corporations is relaxed in case of Government/ Semi Government entities, where photocopies of identity documents of only those directors and persons will be obtained who are authorized to establish and maintain Business Relationship with MCB-AH.
4 Trust, Clubs, Societies and Associations etc.
  • Certified copy of Certificate of Registration/ Instrument of Trust.
  • Certified copy of By-laws/Rules & Regulations.
  • Resolution of the Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body, for opening of account authorizing the person(s) to operate the account.
  • Photocopies of identity documents as per Serial No. I (a) above of the authorized person(s) and of the members of Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered address/ Business address.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.
  • Details of beneficial ownership on Account Opening/KYC Form.
5 NGOs/ NPOs/ Charities accounts
  • Certified copy of Registration documents/ certificate.
  • Certified copy of By-laws/Rules & Regulations.
  • Resolution of the Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body, for opening of account authorizing the person(s) to operate the account.
  • Photocopies of identity documents as per Serial No. I (a) above of the authorized person(s) and of the members of Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.
  • A copy of latest Utility Bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered address/ Business address.
  • Details of beneficial ownership on Account Opening/KYC Form.
6 Branch Office or Liaison Office of Foreign Companies
  • A copy of permission letter from relevant authority i.e. Board of Investment.
  • Photocopies of valid passports of all the signatories of account.
  • List of directors on company letter head or prescribed format under relevant laws/regulations.
  • A Letter from Principal Office of the entity authorizing the person(s) to open and operate the account.
  • A copy latest Utility Bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Branch/Liaison office address.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.
  • Details of beneficial ownership of Foreign Company on Account Opening/KYC Form.