---
title: "Account Opening & Client Verification"
description: "Luramic account opening process, required corporate documentation, AML/KYC procedures, and FATCA/CRS compliance requirements"
image: "https://www.luramic.com/i/og/luramic.jpg"
url: "https://www.luramic.com/legal/account"
---

# Account Opening

To open an account with Luramic Ltd, applicants must complete and submit the official Account Application Form along with all required supporting documentation.

Applicants are required to:

- Complete all sections of the application form
- Provide accurate and up-to-date information about the entity and its structure
- Submit all required supporting documentation
- Complete the FATCA/CRS Self-Certification Form

An application is considered complete only after all documentation has been received and verified.

Luramic Ltd reserves the right to request additional information at any stage of the onboarding process.

## []()AML / CTF Compliance

Luramic Ltd maintains Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) and sanctions compliance controls in accordance with applicable laws and regulatory requirements in Mauritius.

As part of its compliance framework, Luramic Ltd conducts, as applicable:

- Know Your Client (KYC) and Customer Due Diligence (CDD) procedures
- Identification and verification of clients, shareholders and beneficial owners holding directly or indirectly 10% or more, directors, authorised representatives, controllers and other relevant connected persons
- Sanctions screening against applicable Mauritius and United Nations sanctions lists, as well as relevant sanctions and restrictive measures administered by the United States Office of Foreign Assets Control (OFAC), the European Union and the United Kingdom
- Politically Exposed Person (PEP) screening, including, where applicable, relevant family members and close associates
- Adverse-media, regulatory and reputational screening
- Source-of-funds and, where required, source-of-wealth verification
- Ongoing transaction monitoring, and
- Periodic customer reviews and ongoing due diligence

Luramic Ltd may decline an application or refuse to establish a business relationship where the applicant does not satisfy its legal, regulatory, compliance or risk-management requirements.

Where AML/CTF, sanctions or other financial-crime concerns arise, Luramic Ltd may request additional information or documentation, restrict or suspend relevant activity, terminate an existing business relationship and/or make any report required to the competent authorities, as applicable.

## Restricted Jurisdictions and Sanctions

In accordance with its sanctions framework and risk appetite, Luramic Ltd does not onboard or provide services to persons or entities with a prohibited direct or indirect nexus to jurisdictions or territories included on its Restricted Jurisdiction List. These currently include:

- The Democratic People’s Republic of Korea (North Korea)
- Iran
- Cuba
- Syria
- Crimea and Sevastopol
- The non-government-controlled or Russian-occupied areas of Donetsk, Luhansk, Kherson and Zaporizhzhia, and
- Any other jurisdiction or territory subsequently designated as restricted under applicable sanctions requirements or Luramic Ltd’s maintained Restricted Jurisdiction List

Luramic Ltd does not establish or maintain business relationships with sanctioned or designated persons or entities, or with persons or entities owned or controlled by, or acting on behalf of, sanctioned or designated parties, where prohibited under applicable sanctions requirements.

Where a sanctions concern, prohibited jurisdictional nexus, unresolved screening alert or unacceptable financial-crime risk is identified, Luramic Ltd may, as applicable, reject or suspend onboarding, block or restrict relevant activity, terminate the business relationship and make any required report to the competent authorities.

Luramic Ltd’s Restricted Jurisdiction List and sanctions-screening requirements are maintained and periodically reviewed by its Compliance function.

## FATCA / CRS

In accordance with international tax transparency regulations, including the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS):

- Clients must complete a Self-Certification Form to declare tax residency
- Luramic Ltd may report information to relevant tax authorities
- Information may be exchanged with authorities in other jurisdictions

Clients must notify Luramic Ltd of any changes to their tax status.

## Required Documents

### Corporate Documentation

- Certificate of Incorporation
- Memorandum & Articles of Association (or equivalent)
- Register of Shareholders
- Register of Directors
- Latest financial statements or last 3 months bank statements

### Proof of Address

- Registered address: utility bill or bank statement no older than 3 months
- Operating address, if different

### Individuals (Directors, Shareholders, Representatives)

- Valid passport or government-issued ID
- Proof of residential address no older than 3 months

### Beneficial Owners (>25%)

- Identification document
- Proof of residential address no older than 3 months
- Tax residency information

Additional documentation may be required depending on the structure and jurisdiction of the applicant. Luramic Ltd reserves the right to request additional information or documentation at any time as part of its due diligence and verification process.

Identity verification may also be conducted through secure third-party systems.

By submitting an application and opening an account, the client confirms and agrees that, all information provided is true, accurate, and complete in all material respects, no information has been omitted that would make the information misleading, any changes to the information provided will be communicated promptly