The following documents, along with the Articles, Memorandum of Association and the Application Form, are required to be submitted in triplicate:
- Personal History - Each director, senior officer and natural person (who is the ultimate, direct or indirect legal or beneficial owner of 5% or more of any class of the stock of the trust corporation) must complete a personal history.
- References - Each director, senior officer and beneficial owner of 5% or more must supply two references from well-established banks stating the nature and extent of their knowledge of and experience with that person as well as two other professional references stating the nature and extent of their knowledge of and experience with the person.
- Business Plan - This should include a chart showing the ownership structure of the trust corporation, identifying each ultimate, direct or indirect legal beneficial owner of 5% or more of any class of the trust corporation's stock, as well as any companies, partnerships, trusts or other arrangements through which such stock is held. In the case of partnerships, trusts or other arrangements through which stock is held, applicants must provide the name and the jurisdiction under whose laws they are organized. For any trust, the name, address, telephone and fax numbers of the trustee(s) must be provided.
- Statement of Physical Presence - The address of any offices (branch, agency, representative office or other) of the bank in Antigua and Barbuda and abroad must be indicated.
- Statement of Financial Relationships - The name, address, telephone and fax number of the principal banks, investment houses and other financial services, correspondents for the bank in Antigua and Barbuda and abroad, including in each case the name of a contact person must be provided.
- Declaration of Legal Representative - The name, address, telephone and fax number of the principal law firm(s) used by the bank in Antigua & Barbuda and/or abroad, including in each case the name of a contact person, must be provided.
- Policies and Procedures - A detailed explanation of the bank's " Know Your Customer " policies and procedures; any account opening forms and other documentation utilized to support the banks internal policies regarding money laundering prevention and detection must be submitted.
A detailed explanation of the bank's proposed use of the Internet must be provided. For example:
- Will the bank maintain its own website?
- Will the bank allow accounts to be opened via the Internet?If yes, explain how the bank's " Know Your Customer" policies and procedures apply
8. Will instructions from the bank's customers be accepted via the Internet? Marketing Material - Any brochure or promotional material that the bank will use to market its products and services; a copy of all advertising material and information about where the advertisements will appear