Due diligence
Due diligence is a monitoring and controls process we follow at EFS so that we know our customers with whom we are dealing. Adequate due diligence on new and existing customers is a key part of these controls. Without this due diligence, we could become subject to reputational, operational and legal risks, which can result in significant financial cost. The Basel Committee defines appropriate due diligence as “to know your client” (KYC) and your client's affairs. The objective of KYC is most closely associated with the fight against money-laundering and international terrorism. I keeping with our due diligence procedure we require all of our clients to provide us with the following original documentation:

• Certified Passport Copy
• Proof of Address
• Bank Reference
• Professional reference

  English Common Law: Exchange Controls: Political Stability: Offshore Bank Accts: Company Formation: Offshore Co. Taxation: Minimum Directors: Minimum Shareowners: Company Directors: Secretary Required: Bearer Shares Allowed:

  YES NO GOOD NO Exmpt NONE ONE Three NO NO NO

  Registered Office: Directors Disclosed: Underlying Client Disclosed: Tax Treaties: Local Meetings: Owned By Trust: Change of Domicile: Shelf Companies:

  YES YES .. YES * NO NO YES YES NO

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