Many investors, promoters or initiators of projects companies have to open relations with other services providers many times over the year when they either:
This process of on-boarding takes more and more times and includes the provision of many information, documentation, statutory documents, certificate of good standing, due diligence, anti-money laundering, legal, opinion on the status of the entity which will be the counterparty in a transaction, etc.
To save costs, times and money, Creatrust has introduced a dedicated services called the "Repository Services" whereby the promoters or any interested person being a corporate, a fund or a HNWI can supply information only once to Creatrust. The information will be kept securely and be subject to the provision of professional secrecy.
Each time the promoters wishes to enter into a relation with a new service provider, it will instruct Creatrust to get in touch with and deliver the required information. This includes the provisions of a certificate of good standing and the certification of source of funds.
Based on the fact that Creatrust is a regulated entity the new service provider may stand on the Self Certification of Creatrust to complete the due diligence process.
Creatrust will charge a first on-boarding fee for the creation of the file, collection and to create the secured repository for the data that will be needed for the future, and a flat fee per on-boarding with new service provider.
Examples of documents and information usually provided within a due diligence or on-bording process:
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Certified Memorandum and Articles of Association or company, trust, fund, foundation or partnership (the Entity)
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Register of Directors of the Entity including identification of Directors.
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Shareholder register of identification and/or the beneficial owners.
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Offering Memorandum (for investment funds)
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Different agreements or contracts signed by the Entity like Investment Management Agreement
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Authorised Signatory List – inclusive of specimen signatures
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Certified passport copy of officers, promoters, power of attorney, principal contractors with the Entity
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Description of the Investment Strategy, projects and Geography Footprint of Investment Activity
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Country of Principal Business Operations
10. Description of type of Investors, countries, etc
11. Certificate of good standing and non bankruptcy
12. Identification of the Entity’s Auditor and letter of engagement
13. Identification of the Entity’s Administrator and operative memorandum
14. Entity organigram including all applicable control structures.
15. Fiscal or VAT ID number (if applicable)
16. Billing contact/addressee and confirmation of the legal address
17. Fatca, CRS, EMIR and other forms completion including obtention of GIIN number
18. Tax or legal opinion related to the Entity
19. Confirmation from the Repository that there are no individuals (natural persons) with ultimately 25% or more interest in the Entity
20. Provision of a signed AML letter from the Repository certifying that the Entity has AML policies and procedures in place
Creatrust will supply any documents or information needed for Know Your Customer procedure and facilitate the on-boarding of the Entity.
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