Odd one out
Which document do we need to collect for a One Person Corporation:
A.Latest GIS document
B.Form for appointment of officers(notarised)
C.DTI Certificate
D.(Amended) Articles of Partnership
B. Form for appointment of officers(notarised)
What documents are needed to verify a General Partnership? (choose all that apply):
A.Articles of Partnerships
B.Certificate of registration (COR) issued by SEC
C.SOW
D.Partners' Certificate (Authorisation letter) – signed by all partners
Articles of Partnerships, Certificate of registration (COR) issued by SEC and Partners' Certificate (Authorisation letter) – signed by all partners
True/ False, we need to see a AMLC license if company category is PRECIOUS_STONES_DIAMONDS_AND_METALS.
True.
What should we do if a corporation company type uploads a business registration document which looks different to templates in the SOP or Wiki?
We need to check if the document is issued or stamped by SEC. Certificates issued by other departments (e.g. BIR) are unacceptable. We need to check if it contains all the necessary information such as business name, registration number, document issuing country and incorporation date.
Amended Certificate of Registration can be accepted for incorporation date by checking the SEC website https://checkwithsec.sec.gov.ph/check-with-sec/index. We can utilise the incorporation date from this website.
Bonus: Additional 400 points
Which document should we use to confirm UBO details for a General Partnership?
A.Partners’ Certification/Authorisation
B.Registration Number
C.Articles of Partnership
D.Certificate of Registration
C.Articles of Partnership
Please list the business detail information (not UBO Detail information) we need to see in a General Information Sheet (GIS) document when onboarding a Corporation
1. Stockholder's Information table
2. Beneficial Ownership Declaration page
3. Check who is the Secretary (has to match LOA)"
Bonus: Deduct 300 points from another team
True/ False, we can accept a Mayor's Permit for Sole Proprietors who want to onboard with us if they do not have a DTI.
True.
A Profile holder is listed as the UBO of a corporation we are onboarding, and they have given us their COR, Articles of Incorporation, and latest GIS. What else do we need to verify this CST?
Secretary of Certificate or Board resolution (Authorisation Letter)
Which business category does not require a business license in the Philippines?
A. Real Estate or Construction
B. Investments
C. LEGAL_SERVICES
D.Consulting, IT, or Business Services
D.Consulting, IT, or Business Services
Bonus: Deduct 200 points from another team
What is the requirement for personal profile for PHP Business to be onboarded?
We need IDWL or eVerify by using any of these documents:
Passport
PhilID/ ePhilID
Philippines Driving License
UMID
True/ False, for a General Partnership we need to collect and verify an Authorisation Letter unless the PH is a Director/UBO.
False.
You notice that a customer signed up as a sole trader/sole proprietor, but they are actually an OPC.
Explain the procedure for handling the case.
Draft the email you would send to notify them.
Change the legal type to For-Profit Corporation (Inc).
If the owner is the account holder, we don't need to collect a letter of authorisation. If the account holder is not the owner, follow sole proprietors' LOA requirements. We need to collect registration application form summary or Form for appointment of officers (notarised) which contains the beneficial ownership structure. One person corporation should only have a single owner.
Hi {{ticket.requester.first_name}}.
I hope this email finds you well.
We're reaching out to assist you in completing the verification process for your Wise business account, [BUSINESS NAME].
To proceed, please provide the following information and documents:
Identification: -Government-issued ID:
A clear, live photo of your passport, national ID, or driver's license. -
Selfie: A live selfie of the individual opening the Wise account. -
Complete the live verification
Business Documents: -Certificate of Registration / Incorporation issued by SEC
Upload it here -Article of Incorporation
Must be stamped by SEC or notarized.
Upload it here -Registration application form summary (SEC ESPARC), or Notarised Form for Appointment of Officers
One person corporation should only have a single owner
-Authorization Letter Only if you are opening the account on behalf of the business owner.
You can use our template or a different format.
It must include:
-Sole Proprietor’s full legal name
-Business name
-Registered address
-Authorized Representative details (Full legal name and Position)
-Signatures of both parties (owner and authorized person) – digital signatures are acceptable.
-Photo ID for Ultimate Beneficial Owner Only if you are opening the account on behalf of the business owner.
Upload here How do I verify my business in the Philippines?
If we don’t hear from you within the next 7 days, we’ll need to refund any money you’ve paid in
Let us know if you have any other questions.
Which of the following business categories requires a secondary license aside from the AMLC license?
A.FINANCIAL_CONSULTING_ACCOUNTING_TAXATION_AUDITING
B.INVESTMENTS
C.REAL_ESTATE_SALE_PURCHASE_AND_MANAGEMENT
D.PRECIOUS_STONES_DIAMONDS_AND_METALS
C.REAL_ESTATE_SALE_PURCHASE_AND_MANAGEMENT
Of the business categories that require a business license, how many require secondary licenses from either the PRC or DHSUD, and what are they?
REAL_ESTATE_SALE_PURCHASE_AND_MANAGEMENT REAL_ESTATE_DEVELOPMENT
True/ False, general Partnerships must provide us with a DTI document in order to be verified.
False.
Bonus: Additional 100 points
Which legal entity does not require us to collect business registration documents?
Sole Traders.