Compliance

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Providing Financial Services With Confidentiality and Integrity

“Compliance Means the World to Us” is our motto to which our operations will be guided. It is paramount that all the governing laws, The Proceeds of Crime Act, 2000; the Anti-Terrorism Act 2002; the Anti-Terrorism (Prevention of Terrorist Financing) Regulations, 2011, and Financial Action Task Force regulations are adhered to by Acme Trust and its clients.

Having customer identification is critical in knowing your customer, and as a result, it is mandatory for the following information to be sent to us for the setting up of an entity.

Due Diligence Requirement

  • Original signed client questionnaire
  • High quality certified or notarised picture identification of passport and driver’s license
  • Original or notarised utility bill or bank statement with permanent residential address (No P.O. Box)
  • Original bank reference letter
  • Must be from a CPA or an Attorney

FATCA

FATCA stands for Foreign Account Tax Compliance Act which was enacted by the United States of America in March 2010 with the intention of combating and or reducing lost tax revenues from U.S. citizens who have investment and assets accounts outside of the U.S.

The Government of St. Kitts and Nevis will execute the Model 1 IGA by the Government of St. Kitts and Nevis and the US Department of the Treasury.

Under FATCA, Foreign Financial Institutions (FFI) are expected to report to the IRS on the “U.S. person” who holds an account with them or if they own over 10% of an entity that has an account with the FFI. Failure for the U.S. person to comply will result in a 30% levy to any payments from sources within the United States.

Our client questionnaire application will have information in determining who is a U.S. person. The term U.S. person may be defined as a person born in the U.S.; U.S. Citizen; U.S. passport holder or an entity that is owned by a United States citizen that has control or owns 10% or more of the entity.

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