Open a Scotia Investments Account Requirements
A. Individuals
- New Client Application Form (NCAF) completed in all sections
- Current valid identification (Passport, Driver’s License, National ID, Alien Registration Card for overseas residents)
- Tax Registration Number (TRN)
- Social Security number or other tax registration number (as applicable in the country of residence) for persons resident overseas
- Address confirmation for each account holder
- Proof of income; this is also required for retired individuals
- Two references per account holder
- Source of funds
- Fax, verbal & email or general indemnities if
applicable
Minors (as joint holders only)
- The minor's birth certificate
- The minor’s passport; if the minor does not have a passport, the minor’s picture certified on the back of the picture by a Justice of the Peace
- The parent's signature on the NCAF where the joint holder should have signed (as the parent is signing on behalf of his/her child)
- Detailed information on the minor - full name, address & date of birth (to be inserted in the NCAF)
Minimum documentation required to start an account Read more
B. Corporate Bodies
- New Client Application Form (NCAF) completed in all sections
- Certificate of Incorporation
- Articles of Association
- Memorandum of Association*
- Directors’ Resolution
- Current valid identification for all signatories
- Tax Registration Number (TRN) for all signatorie
- TRN for the company
- Social Security number or other tax registration number for overseas companies
- Names and permanent residential addresses of principal owners (or shareholders), directors, beneficiaries, management officers and other signatories
+ If part of a group of companies, information on the ultimate beneficial owners/controllers of the company, ID's
- Description of customer’s main line of business and major suppliers (if available)
- Financial statement of the business or 12 months’ bank statements
- Group/corporate structure
- Source of funds
- Certificate of good standing /Certificate of continuation required from overseas companies
- Fax, verbal & email or general indemnities if applicable
* Not required for companies incorporated after February 1, 2005. Only Articles of Association; Declaration of Compliance and Articles of Incorporation are required for such companies.
Minimum documentation required to start an account Read more
C. Non-incorporated Entities (partnership, sole trader, club, association, school, church, etc)
- New Client Application Form (NCAF) completed in all sections
- Current valid identification for all signatories / principals
- Tax Registration Number (TRN) for all signatories / principals
- TRN of the business
- Certificate of Business Name Registration or other document evidencing existence
- Written rules regarding the functioning of the non-corporate entity (e.g. constitution, Deed of Partnership, statute)
- Account opening resolution (if there is a board or executive committee)
- Information on the principal officers or principal representatives (names, position, permanent residential address)
- the purpose of the account
- the source of funds
- the intended nature of the business relationship
- Financial Statement or 12 months bank statement
- Fax, verbal & email or general indemnities if
applicable
Minimum documentation required to start an account Read more
References
Each person named on the account must provide two referees from any of the following:
- Other financial institutions
- Current employer
- Minister of Religion
- Police – Rank of Inspector and above
- Permanent staff member of the ScotiaBank Group
- Existing client over a year
- Attorney
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Proof of Address
The following represents acceptable Proof of Address:
- A copy of a current utility bill showing the customer's name and place of residence
- A copy of the relevant page of the telephone directory
- Checking the Voters' roll
- A letter from a senior manager at the customer's place of employment, certifying the customer's address
- Visiting the client's residence and completing Scotia Investments Address Verification Form
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