Due Diligence Requirements for foundations

For foundations, we will need to collect the following documents:

Corporate documents

  • Formation document (e.g. Certificate of Formation)
  • Constitutional document (e.g. Charter)
  • Council Member information (e.g. Statement)

Structure chart

A structure chart including each intermediary layer(s) up to ultimate beneficial owner level, being confirmed by one of the below:

  • Council member
  • Authorised signatory
  • An advisor to the Foundation (e.g. legal counsel, accountant, tax advisor, administrator, etc).

Ownership and control

CDD documents are required for the key parties involved with the foundation, including:

  • Direct beneficiaries – those parties with a direct vested interest in the assets of the foundation (e.g. named beneficiaries)
  • Direct controllers – those parties exercising direct control over the foundation (e.g. council members, guardians, etc)
  • Direct contributors – those parties who have directly contributed the assets of the foundation (e.g. the founder)
  • Ultimate beneficiaries – those parties with an ultimate vested interest in the assets of the foundation (e.g. any individuals or regulated/listed entities sitting above direct beneficiaries who are private companies, trusts, etc).
  • Ultimate controllers – those parties exercising ultimate control over the foundation (e.g. individual directors of a council member which is a corporate).
  • Ultimate contributors – those parties who have ultimately contributed the assets of the foundation (e.g. high net worth individual sitting behind a founder which is a corporate, or trust, or similar)
  • Intermediate parties – any other parties sitting between direct beneficiaries/controllers/contributors and the ultimate beneficiaries/controllers/contributors.

Ultimate Beneficiaries/Controllers/Contributors

*Under the anti-money laundering regulations for Jersey, Guernsey, Luxembourg and UK, the threshold is 25%; and for all other jurisdictions is 10%. Please refer to our original e-mail request to see which jurisdictional rules apply.

The above mentioned should be submitted to us via one of the following methods:

Certified copies

Visit a suitable certifier with photo ID and proof of address. The certifier will take copies, add an attestation and sign to certify that they are true and accurate copies of the original documents. You may either send the certified copy to us via email or post it to one of our offices.

Click here to view our certification requirements.

Digital submission

Use our secure mobile ID app to provide all your details and verification evidence via your mobile phone in just a few minutes. Just open this link on your mobile to download the app and get started.

ID Pal covers all countries listed here.

Face to face

Drop into any of our offices during normal working hours with photo ID and proof of address. Our staff will take copies whilst you wait and you will be back on your way within a few minutes.