Opening an individual account with Sovereign Bank International is your first step towards a bespoke banking experience. Please have the following documents ready for submission with your initial application.
Notarized (90 days or newer) copy/photo of the Primary Identification Document.
Notarized (90 days or newer) copy/photo of the Secondary Identification Document.
Examples: Full-color passport showing identification and signature page, Government Issued Drivers License, National Identification. This is required for each account holder, if the account has joint owners.
Notarized Proof of Address (for primary residential addresses listed).
Examples: Utility bill (90 days or newer), lease agreement, tax bill, bank statement
Document(s) confirming the sources of funds into the account.
Document(s) confirming the source of wealth (e.g., employment income, business ownership, investments, real estate, inheritance, gifts, and donations). This includes descriptions if “Other” sources of funds/wealth are selected.
Proof of Tax Identification Number (TIN) for each jurisdiction of tax residence listed.
This includes an explanation if a TIN is not available, with reason codes: A (Jurisdiction does not issue TINs), B (Unable to obtain a TIN) or C (Not required to provide a TIN by the laws of the jurisdiction).
Detailed identity and position information related to any politically exposed persons associated with the account or the account holder themselves.
Documentation regarding financial dealings, assets, or ownership involving a PEP.
Documentation related to any sanctions, regulatory restrictions, or legal matters concerning corruption, money laundering, or other financial crimes involving the account holder or a PEP.
Documents that may be required based on the anticipated high-value transactions, sources of wealth not explicitly listed as common options (marked as “Other”), and any high-risk international transactions.
Documents ensuring compliance with the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS), especially if discrepancies arise between the country of tax residency and other jurisdictions mentioned in the application.
Tax Related – CRS and FATCA Forms are available at: https://sbi.bank/compliance/