Legal & Compliance

Legal & Compliance2017-08-07T15:54:40+00:00

Compliance

On December 1st, 2011 the State Ordinance for the Prevention and Combating of Money Laundering and Terrorist Financing (Wwft BES 2012) entered into force. The purpose of the Wwft BES State Ordinance is to improve the BES  system for the prevention and combating of money laundering and terrorist financing.

Therefore, it became of increasing importance to implement new rules with regards to the proper identification and certification of clients and the reporting of unusual transactions when providing financial services and select non-financial services.

CATC can prepare and coordinate the following compliance services:

  • Prepare company policy and procedures to adopt the rules and regulations on preventing and combating money laundering and terrorist financing including among others:
    • Compliance Manual
    • Customer Due Diligence procedures
    • Risk Based Procedures
  • Conduct Customer Due Diligence programs
  • Prepare compliance forms including:
    • Declaration of the Ultimate Beneficial Owner
    • Source of Wealth Declaration
    • Source of Funds Declaration
    • Intake form
  • Screen Check of clients or employees through our World-Check program

Besides preparing the above mentioned services we can also assist you with your Customer Due Diligence, which includes:

  • Confirm if the identification of clients or employees are authentic and in no way false
  • Confirm if clients or employees have clean records
  • Further research to establish clients and employees credibility

We can assist your company with both enhanced and simplified due diligence.

On legal matters we can assist you in the following:

  • Registration of companies at the Chamber of Commerce
  • Registration of companies at the Tax Department (BCN)
  • Application of the Operation Permit at the Department of Economic Affairs
  • Application of (investors) work and residence permit for investors
  • Assist with the incorporation, liquidation and de-registration of companies
  • Registration of companies at the Free zone
  • Registration of companies for different fiscal regime
  • Preparation of contracts regarding fiscal matters for companies and individuals

Preparation of contracts regarding legal matters for companies and individuals