Taiwan: corporate bank account opening

Obtain the corporate customer's registration particulars, constitution, senior management names, registered office and principal business address. The Taiwan registry guide distinguishes company registration information from business registration records. Request the company's shareholder list where the public record does not supply the ownership detail needed.

Identify the controllers

Article 3 of the financial-institution AML regulations uses more than 25% of shares or capital as the controlling-ownership test. If no individual is identified, or ownership leaves doubt, examine control through other means. Identify a senior managing official only when neither step identifies an individual. Apply any listed-company or regulated-institution exception on its stated conditions.

Verify the person acting for the customer and their authority. Obtain the account mandate, board resolution or power of attorney and accepted identity evidence for the representative.

Opening and ongoing review

Record the purpose of the account, expected transactions and funding. Request supporting contracts or payment records where the proposed activity needs substantiation. Article 4 specifies grounds for declining a relationship, including unverifiable authority, refused identification evidence and unexplained unusual circumstances.

Complete CDD before opening unless the conditions for delayed verification apply. Resolve PEP and sanctions findings and apply enhanced measures to higher-risk customers.

Article 5 requires ongoing review and at least annual review of higher-risk customers. Revisit the file after material changes or doubts about earlier evidence; retain the revised ownership and mandate documents.