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Due Diligence (know your client) requirements

Coddan CPM Ltd is subject to Anti‐Money‐Laundering Regulations in UK, commonly referred to as 'KYC & DD' requirements.

Under these regulations, we must verify the identities and personal data for all individuals to whom we provide any type of fiduciary services.

All information and documents provided to us under these provisions will remain strictly confidential, hence not part of any official public record; subject to the UK Anti Money Laundering Regulations 2007.

Please be aware that any formation agent operating without being MLR registered is not complying with the Law. We would strongly advise you to ask for an MLR number prior to processing a formation through any agent.

Each actual owner (beneficial owner), director and shareholder of a proposed entity: Company, LLP, IBC, BC, LLC, Corporation and each individual who is in any way authorised to issue instructions in regards of that Company, must provide the following documents to Coddan CPM Ltd:

[A] One document evidencing identity.

Type. In descending order of acceptability: Passport, national identity card, armed forces identity card, valid driving license.

Features. Document must be valid and current, and must contain photograph of a reasonable likeness.

Form. A copy of document, must be certified by a lawyer, notary, certified accountant, embassy official or a bank manager. The name and status of the certifier and the name of his organization (if any) must be clearly indicated. The copy must be certified as a “true copy of the original seen and the photograph being of a reasonable likeness to the bearer of the document”.

[B] Two documents evidencing residential address.

Type. Utility bill, bank statement, credit card statement, mortgage or credit union statement, local authority tax bill, local council rent card, statement of the residential address issued by the local municipality, notary or banker. Can also be a national identity card or driving license, if contains residential address and not already provided under [A].

Features. Document must indicate the full name of the individual together with his residential address.

Form. Document must be original and not older than 3 months. In case of ID card or driving license, a copy certified, as described in [A].

[C] One bank reference or professional reference (for offshore companies mainly or when “special services” is required for UK entities.

Features. Document must indicate the length of time for which the individual is known to the referee, being not less than three years and the nature of the relationship between the individual and the referee. If the individual’s residential address is expressly mentioned in the bank reference, as per banks’ records, a separate Proof of address document [B] is not required.

Form. Must be original and not older than 3 months. We can provide sample wording at request.

We will also require each actual owner (beneficial owner), director and shareholder to complete short CV and declaration of the beneficiary owner which will be supplied by e-mail once order is submitted.

All of these documents must be received in the offices of Coddan CPM Ltd before any company formation or management orders can be completed.

To expedite some services, scanned copies can be sent to us electronically at first, but they must be followed by the original copies!

Scanned copies should be delivered by e-mail to a relevant person who processed your order and then originals should to be posted to our office:-

Attn: Coddan CPM LTD
Corporate Department
5 Percy Street
London
W1T 1DG
United Kingdom

We will not send out any corporate documentation to clients before we are in receipt of all due diligence documents, in paper form!

Added: 09/04/2009

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