Read JapanAccountOpeningRequirements.pdf text version

Japan

Account opening requirements

Languages

Documentation may be submitted in Japanese or English. Documents in other languages need to be accompanied by a certified true Japanese or English translation.

Certification

Resident clients should affix certified corporate seal on legal and operational documents along with company name/ address/representative director's name. For nonresident clients, such documents must be certified by the Company Secretary, Director, or others who are delegated by Board Resolution. All signatures must be original. Regulatory documents for client identification as required under the Act on Prevention of Transfer of Criminal Proceeds (APTCP) in Japan must be issued by the government authority or with the relevant effect.

Legal and operational documents

The following are the minimum requirements to open accounts in Japan:

Document International Account Agreement (IAA) for Resident and Nonresident Clients Form Resident clients: Corporate Seal affixed on the document with company name/ address/representative name Nonresident clients: Signed original of IAA Third Party Authorization Letter (TPA) for Resident and Nonresident Clients Specimen Signature Document for Resident and Nonresident Clients Certificate of Complete Record of Current Particulars ( ) for Resident Clients Same as above Same as above Original or Certified True Copy The TPA is signed when you wish to delegate authority to a third party to operate the accounts on your behalf List of full names of authorized signatories along with sample signatures and details of payment value limits The document is issued by Legal Affairs Bureau of Japan for resident companies and will be used as supporting document for contractual agreements Must be issued less than three months prior to the date of presentation to the bank Certificate of Seal Impression () for Resident Clients List of Directors for Nonresident Clients For Nonresident Clients, Certificate of Incorporation, Charter, etc And Board Resolution Authorizing the Individuals to do Business with the Bank Board resolution must be signed original or certified extract Original Certified true copy of register of directors, or original letter Certificate of Incorporation must be a Certified True Copy (CTC) Same as above Must be issued less than three months prior to the date of presentation to the bank As supporting documents for contractual agreements Following information needs to be confirmed on the documents: · Company name · Legal address · Purpose of Business or Business Registration · Name of representative and all directors Must be issued less than three months prior to the date of presentation to the bank Description The terms and conditions governing your accounts with Bank of America National Association should be signed by those company officials authorized by Certificate of Incorporation or Board Resolution

Identification of Signatories and their Specimen Signatures Articles/Memorandum of Association

Certified true copy

Valid photocopies of all specimen signatories on page 4 of IAA Personal ID document such as Passport photocopy, Driver's License photocopy or equivalent Company's constitution, articles or statutes to ascertain powers of the company and its directors and rules governing the company's internal and external relations

Nonresident clients: Certified true copy Resident clients: Teikan () must be affixed by the corporate seal with words of ""

Verification of legal signatories

For resident clients, we are required to verify the Corporate Seal affixed on the IAA, TPA and Signature List, by the original Certificate of Seal Impression. For nonresident clients, we are required to verify the identities of the signatories to the IAA, TPA and Signature List. Acceptable form of verification is Board Resolution with signature. The required individual identification documents are listed under the next section.

Anti-Money Laundering documents

Document Identification Document of the Legal Entity Certification/Authorization Resident: Original or Certified True copy Description The document must certify name and address of the legal entity Resident clients: A single type of document such as Complete Record of Current Particulars or Certificate of Seal Impression will meet requirement. Nonresident clients: Documents including but not limited to Certificate of Incorporation, evidence of registered office, notarized Article of Associations etc. The document must certify name, date of birth and address of the individual Resident individual: Driver's License, Passport or health insurance card Nonresident individual: Documents including but not limited to copies of Driver's License, Passport, resident card, health insurance card

Nonresident: Notarization Document(s) should be issued by government authorities, must be issued where required less than six months prior to the date of presentation to the bank

Identification of Authorized Individual for the above Legal Entity Document(s) should be issued by government authorities. Must be issued less than six months prior to the date of presentation to the bank or within the validity period of the document

Certified true copy

General guidance for documents listed above

In case the document required by Act on Prevention of Transfer of Criminal Proceeds http://www.npa.go.jp/sosikihanzai/jafic/index.htm overlaps with any other legal and operational documents, one document can serve for both purposes. However, if there is any conflict in the standard of documents required, such as original or certified copy, issue date and etc., the higher standard shall be applied.

Registered mail

Under the Act on Prevention of Transfer of Criminal Proceeds http://www.npa.go.jp/sosikihanzai/jafic/index.htm, we are required to send registered mail to the address of the legal entity and of the authorized individual of the legal entity. If registered mail is returned to us, it is considered that Client Identification Obligation under the Act is not completed and account activity and related services may be halted until Client Identification Obligation is completed.

Requirements for privately owned companies

Some information required for account opening of public companies is readily available in public forums such as the internet. Ease of access to information concerning these companies and their subsidiaries, who have stock traded on recognized exchanges as well as regulated institutions such as banks, often simplifies the account opening process. Regulators and many exchanges conduct client due diligence of regulated or listed companies on a regular basis. This due diligence can often be employed by banks to simplify and expedite "Know Your Customer" and Anti-Money Laundering verification. Since privately held companies are not subject to the same client due diligence required of public companies, much of the account opening information is not available publicly. As a result, privately held companies will be required to provide additional documents or information in addition to those elements listed previously such as ownership structure of non-listed/regulated entities, annual report etc. Please reference http://www.baml.com/asiapacific for the most recent version of this country fact sheet. IMPORTANT NOTE: Your Implementation Advisor will provide you a tailored documentation requirement list.

"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured May Lose Value Are Not Bank Guaranteed. ©2012 Bank of America Corporation AG-AH-0204ED 02-2012

Information

3 pages

Report File (DMCA)

Our content is added by our users. We aim to remove reported files within 1 working day. Please use this link to notify us:

Report this file as copyright or inappropriate

846941


You might also be interested in

BETA
Microsoft Word - Calendar Years 1984-2011.doc
Microsoft Word - 10-09-2006 07;24;36AM.rtf