Account Identity Requirements
To comply with anti-money laundering, sanctions and related laws and regulations, we at Backpack EU need to know our clients a bit better.
In accordance with national laws and regulatory requirements, the firm is obliged to collect specific information to verify each client’s identity and understand their economic profile. This includes details such as the client’s source of funds, source of wealth, employment status, and industry. These obligations are part of the firm’s duty to ensure responsible and compliant client onboarding.
Clients are required to complete the onboarding process, including an appropriateness assessment, in accordance with applicable regulatory and product governance requirements. The financial instruments offered are high-risk and may not be suitable for all individuals. They are generally associated with a level of complexity and risk that may be more familiar to those with relevant knowledge and experience, an understanding of the associated risks, and are both willing and financially able to bear the risk of potential losses.
This is crucial to shield both you and the exchange from the risks of fraud, money laundering, terrorist financing and other risks.
That’s where the KYC (Know Your Customer) checks come in. We’ll ask you for some additional info through a simple on-platform questionnaire.
Please read through the requirements based on your country of residence to understand the necessary steps you need to take.
Standard KYC Requirements (applicable to most countries):
Provide your full name, date of birth, and address.
Provide details about your source of income and occupation.
Provide information about your knowledge and experience.
Provide details about your economic profile.
Provide your Tax Identification number and Tax jurisdiction to meet regulatory reporting requirements.
Upload a clear and valid identification document.
Complete a liveness check to verify your identity.
Proof of Identity Requirements
To comply with regulatory obligations, you are required to submit a valid passport or national ID card as Proof of Identity. The document you provide must meet the following criteria:
The document must be valid and not expired.
All information must be clear, legible, and fully visible.
The document must not contain any blurred, obscured, or covered data.
Both sides or pages of the document must be submitted.
All four corners of the document must be clearly visible in the image or scan.
The document must be submitted in its original color.
It's vital to ensure that all provided information is accurate and up-to-date.
Incomplete or inaccurate submissions may lead to delays in the verification process
Institutional Account Identity Requirements
To ensure the integrity and security of our platform, all institutional customers seeking to trade on Backpack EU must complete our Know Your Customer (KYC) verification process.
This guide provides a detailed overview of the required documentation for institutional KYC verification.
Required KYC Documentation for Institutions:
1) Country of Incorporation:
Please specify the country where your institution was incorporated. This will determine specific KYC requirements as they may vary based on jurisdiction.
2) Entity Name:
Provide the full, legal name of your institution.
3) Trading Activities Location:
Indicate from which country or region you expect to conduct trading activities on the Backpack EU.
4) Industry Classification:
Indicate the primary industry or sector your company operates in.
5) Phone Number:
Provide a valid contact number for your institution.
6) Company Address:
State the complete physical address of your institution.
7) Company’s Source of Income:
Detail the primary sources of income for your institution (e.g., sales, investments).
8) Corporate Documents:
Certificate of Incorporation/Registration (or equivalent)
Certificate of registered office (Please provide a document confirming the registered address of the company (e.g. a recent bank statement of a regulated bank, utility bill, or any government issued document) not more than three (3) months old.)
Certified register of directors ( or equivalent)
Certified register of shareholders (or equivalent)
Memorandum and Articles of Association. (or equivalent)
Group Structure (If the entity is part of a Group, please provide a group structure chart to include: name of the parent entity, country of incorporation of the parent entity, name of subsidiary companies and country of incorporation of subsidiary companies.)
Last audited financial statements
Latest management accounts
Resolution of the Board of Directors of the Client for the opening of the account, confirming directors with signatory rights and granting authority to the authorized representative.
If the registered shareholders act as nominees of the Beneficial Owner, a copy of the trust deed/agreement concluded between the nominee shareholder and the Beneficial Owner, by virtue of which the registration of the shares on the nominee shareholder’s name on behalf of the Beneficial Owner has been agreed.
Anti-Money Laundering Policy
9) Ultimate Beneficial Owners (UBOs) with ≥ 25% Ownership:
For any UBO owning 25% or more of the entity:
Identification: Upload a clear copy of the UBO's national ID or passport.
Ownership Attestation: Confirm that there are no other UBOs owning more than 25% of the entity.
Optional:
If you have additional documents that you believe will assist in the verification process, please feel free to upload them.
It's vital to ensure that all provided information is accurate and up-to-date.
Incomplete or inaccurate submissions may lead to delays in the verification process.
Proof of address (POA) submission guidelines
Understanding Proof of Address
For the Know Your Customer (KYC) process, a Proof of Address (PoA) document is required by Sumsub to verify your residential address.
This is a crucial step to ensure the security and integrity of our platform and your financial transactions.
What Qualifies as a Proof of Address Document?
Your PoA document must include your full name, your current residential address, and the date of issuance. The document should be recent (typically within the last 3 months) to ensure that the information is current.
Acceptable Documents Include:
Bank statement
Utility bill (Gas, Water, Electricity, or Internet/ Cable TV bills)
Tax returns
Council tax bill
Government-issued residency certificate
Non-acceptable Documents Include:
Screenshots
Mobile phone bills
Medical bills
Receipts for purchases
Insurance statements
Bank letters
Insurance premium statements
Document Requirements:
First Page: The document must have your name, address, and date clearly visible on the first page.
One-Page Document: If possible, the document should be a single page.
Date of Document: The issue date should be within the last 3 months to ensure the information is up to date.
Legibility: The document must be clear and easy to read. Blurry, low-resolution, or otherwise illegible documents will not be accepted.
Unaltered: The document must not be edited or redacted in any way.
Accepted File Types and Formats
When uploading your Proof of Address document, please adhere to the following accepted formats. The maximum file size for each document is 50 Mb.
File formats:
JPEG
JPG
PNG
PDF
Proof of Identity Requirements
To comply with regulatory obligations, you are required to submit a valid passport or national ID card as Proof of Identity. The document you provide must meet the following criteria:
The document must be valid and not expired.
All information must be clear, legible, and fully visible.
The document must not contain any blurred, obscured, or covered data.
Both sides or pages of the document must be submitted.
All four corners of the document must be clearly visible in the image or scan.
The document must be submitted in its original color.
Having Trouble?
If you encounter any issues or have a document that does not meet the above criteria, you can still submit it for manual review. Our team will examine the document and assist you in completing the KYC process.
Document larger than one page: If your document is more than one page or does not meet the guidelines, please upload it anyway.
Manual Review: Our team will manually review any document you upload, even if it does not strictly meet the guidelines.
Contact Us: If you need assistance or have questions, please feel free to contact our support team at [email protected].
Remember, we are here to help you through the verification process.
Your security and privacy are our top priorities.
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