Why do you require a copy of my passport and other documents?

We are a licensed Administrative Service Provider (“ASP”), regulated by the Cyprus Securities and Exchange Commission (“CySEC”) and have to adhere to certain rules & regulations. The requirement to obtain a copy of your passport and other identification documents falls under the Directive for the Prevention of Money Laundering and Terrorist Financing. In terms of Due Diligence regulations, we are much like a bank. Hence, under the terms of our licence, we are obliged to identify and know our clients. First of all, we must know and verify the identities of all our clients. We must also determine where our clients customarily reside (proof of address), what they do for a living (a professional reference and/or a CV) and are they financially active members of society (a bank reference). In conjunction, all of this information is called “KYC” – Know Your Client. All of this information and the underlying documents remain in strict confidentiality, in our internal files only. We may be criminally punished for divulging this information. Nevertheless, this information and documents need to be provided to us, otherwise the Cyprus company formation or any other services simply cannot happen.