💸Proof of Funds
We can issue Proof of Funds, on behalf of the Applicant
We can issue Proof of Funds, on behalf of the Applicant
Client will send us the filled in POF Application form. We will prepare and send the Final draft of POF to the Client.
Client should conclude with their Beneficiary using the final draft provided by us. Once the draft is concluded, Client should send us the following:
Final POF draft with their sign and stamp;
Letter of Interest confirming acceptance for the draft and advising us to proceed further;
Their Bank statement evidencing the availability of funds to cover the issuing Cost.
Mode of delivery – Physical copy or through swift. Also an eKYC declaration letter will be given to Client, which needs to signed and sealed and sent back to us. Once we receive the Signed eKYC declaration letter, we will issue an invoice of 1,500 USD for eKYC which client needs to pay. Upon receipt of this payment we will release a eKYC link to client
Client needs to submit all the signed and sealed filled up documents, on the eKYC link/portal shared by us after which our KYC and Compliance team will review the documents.
Upon receiving the above documents, client should send us the filled in Offshore Account opening form, as its mandatory for the client to open account with us to obtain a POF. Also, the standard Indemnity Documents of the bank will be provided to the Client for signing. The Client has to submit the KYC documents as per the list we will provide as a part of KYC and AML compliances including Transaction documents.
Once Client sends the signed and stamped filled up documents, we will send the same to our Compliance team.
Our compliance team will confirm if the submitted documents are in order and then we will get an invoice from the Bank towards the issuing cost and also another invoice towards account opening fee.
After Client transfers the issuance cost as well as the account opening fee, within 10 working days we will set up the account and will get the POF issued and it will be delivered to the Beneficiary bank.
End of transaction.
Above described is the POF (Proof of Funds) issuance process / procedure