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#94685 - 07/07/03 08:06 PM Non-U.S. business account
MLW Offline
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Joined: Jul 2003
Posts: 9
We have a very good business customer (travel industry) who does business with a company on London. The London based company does not have an office in the U.S., however they would like to open an account in the U.S. to make their U.S. transactions (wires) easier. We are considering this potential relationship & if we decide to open it, what type/kinds of specific documentation should we get? Articles of organization, w-8 or w-9? I have spoken to our regulatory agency, secretary of state & several bankers with decades of experience, and no one has given me a straight answer, so I'm looking for any additional information I can get. HELP!!

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Operations Compliance
#94686 - 07/08/03 03:48 PM Re: Non-U.S. business account
WildTurkey Offline
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WildTurkey
Joined: Jan 2003
Posts: 921
Down South, USA
Quote:

.... I'm looking for any additional information I can get. HELP!!


You need to adjust your expectations/ language as a UK company isn't likely to know what a W-8 or W-9 are.

You should be asking for copies of "the Articles and Memorandum of Association", a copy of the "Certificate of Incorporation", and possibly extracts of the "register of shareholders" and "register of directors" (plus any related filings with Companies House (the state's record keeper or official filings)). You may want all/any of the above "certified by a solicitor, advocate, or notary public" (three classes of lawyer permitted under UK law to "certify" a document) to prove authenticity.

You can also order directly from Companies House filed copies of official records for the company which would enable you to corroborate what you received directly from your client.

Please be wary about asking for anything that relates to the SEC, US tax, or US corporate law as it is unlikely to be understood in the UK.

I hope that this helps.
_________________________
This is my opinion; it is not legal advice, nor the view of my employer, and it may change tomorrow.

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#94687 - 07/08/03 09:44 PM Re: Non-U.S. business account
MLW Offline
New Poster
Joined: Jul 2003
Posts: 9
Thank you very much for your input.

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