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Requirements for WME Purse owners (Legal Entities and Sole Traders)
The article is out of dateThe article is out of dateIn accordance with the legislation of the European Union, the WME Guarantor has the following requirements for legal entities and sole traders for the use of WME Purses:
1. USER DETAILS and AGE RESTRICTION
Sole traders and authorised signatories with access to the WME purses must provide their name, surname, date of birth and full residential address (user location) including country of residence.
The age of the sole trader or account authorised signatory with access to the WME purses must be at least 18 years of age if he/she resides within the European Economic Area (EEA) or in the United Kingdom, or at least 14 years old if he/she is residing outside the EEA and is of legal age in their country of residence.
EEA countries include: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Gibraltar, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Hungary, Finland, Sweden.
2. RESTRICTED COUNTRIES
Legal entities and sole traders based/registered in the following countries are not permitted to use WME purses: Afghanistan, Albania, Algeria, American Samoa, Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Benin, Botswana, Bouvet Island, British Virgin Islands, Burkina Faso, Cambodia, Cayman Islands, Central African Republic, China, Christmas Island, Cocos (Keeling) Islands, Cook Islands, Côte d'Ivoire, Crimea, Cuba, Dominica, Dominican Republic, Donetsk People's Republic (DPR), Ghana, Grenada, Guam, Guyana, Haiti, Iran, Iraq, Jamaica, Kenya, Laos, Libya, Luhansk People's Republic (LPR), Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Mongolia, Morocco, Mozambique, Myanmar, Nicaragua, Niger, Nigeria, North Korea, Northern Mariana Islands, Pakistan, Panama, Puerto Rico, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Sao Tome and Principe, Senegal, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sudan, Suriname, Swaziland, Syria, the United States, Trinidad and Tobago, U.S. Virgin Islands, Uganda, Ukraine, United States Minor Outlying Islands, Vanuatu, Venezuela, Western Sahara, Yemen and Zimbabwe.
3. DOCUMENTS REQUIREMENTS
3.1. Sole traders
In order to use WME purses for business needs, sole traders will be required to:
3.1.1. Verify his or her identity
(1) Provide a government-issued document containing photographic evidence of identity from the following list:
- a valid unexpired passport;
- a valid unexpired national or other government-issued identity card.
Scanned copies or photocopies of the required documents should be uploaded to the WebMoney Passport website.
The content of the document should be written in Latin characters or in Cyrillic or you should provide a certified translation of the document into Russian or English.
(2) perform a PhotoID or VideoID verification
3.1.2. Provide a proof of address by choosing ONE of the following options:
1st option
If the residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) it is required to:
(1) Upload a copy or photocopy of the relevant document page with address to the WebMoney Passport website.
(2) Perform address photo or video verification
Address photo verification
Take a photo of yourself (selfie) along with the page of the document with the address on it and upload it for verification to the WebMoney Passport website (type "Selfie with address confirmation document").
Address video verification
It is also possible to arrange a video interview with the representative of WME Guarantor sending an email to support@webmoney.eu.
The content of the document should be written either in Latin characters or in Cyrillic. Otherwise, you should provide a certified translation of the document into Russian or English.
2nd option
Provide two (2) proof of address documents of different sources from the following list:
- utility bill dated within the last 6 months; (water, gas, electricity, landline phone);
- statement dated within the last 6 months from your current account or reference letter issued by a recognized credit institution or bank;
- certificate of registration dated within the last 6 months at a place of residence issued by a statutory authority;
- correspondence from a central or local government authority, department or agency dated within the last 6 months;
- any other government-issued document not mentioned above.
Scanned copies or photocopies of the required documents should be uploaded to the WebMoney Passport website.
Please read carefully the requirements of documents confirming a residential address.
3.2. Legal entities
In order to use WME purses, legal entities will be required to submit scanned copies of the following documents:
- Certificate of Incorporation
- Memorandum and Articles of Association (alternatively, Company Bylaws/Statutes)
- Company Ownership Documents (i.e. share certificate or other documents confirming the ownership structure of the company, up to ultimate beneficiaries (UBO’s) with a share in the company of 25% or higher)
- Certificate of Directors or Director’s register (document(s) with the names of all natural persons who exercise managerial authority over the company)
- Power Of Attorney, if applicable (confirmation of the authority of the account signatory, if the signatory is not a company director)
- Proof of Identification (Passport or ID card) and Proof of Residential Address of any UBO’S with shareholding of 25% or more, and account signatory
- Proof of identification (ID card or Passport) for Company Directors
- Proof of Company Physical Address (address where the main offices of the company are located, for example bank statement or a delivery note of office equipment, not older than 3 months, office rent agreement)
- Bank Account Confirmation (company trading account statement, or a letter from the bank confirming the company bank account, not older than 3 months)
-License, if applicable (evidence of any license your company has/must have if it operates within a regulated market).
Proof of Identification
It is required to provide a government-issued document containing photographic evidence of identity from the following list:
- a valid unexpired passport;
- a valid unexpired national or other government-issued identity card.
The copy of the document needs to be certified by a notary OR it will be required to provide a scan copy of the document and go through a PhotoID or VideoID procedure.
Proof of Residential Address
It is required to provide two (2) proof of address documents of different sources from the following list:
- utility bill dated within the last 6 months; (water, gas, electricity, landline phone);
- statement dated within the last 6 months from your current account or reference letter issued by a recognized credit institution or bank;
- certificate of registration dated within the last 6 months at a place of residence issued by a statutory authority;
- correspondence from a central or local government authority, department or agency dated within the last 6 months;
- any other government-issued document not mentioned above.
If the residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) it is required to provide a certified copy of the document OR a scan copy of the document with additional photo- or video-verification. Second proof of address will not be required in this case.
Subject to review, additional due diligence documentation might be requested.
Scanned copies of the required documents should be uploaded to the WebMoney Passport website or submitted by email.
If the documents have been uploaded to the WebMoney Passport website, it will be required to check their current validity and, if necessary, upload the updated version of the documents.
4. REGISTRATION IN MEGASTOCK
- Sole traders must be registered in Megastock.
In case a WME purse holder does not satisfy the above requirements, his/her WME user rights may be restricted (purses may be blocked) for both incoming and outgoing transactions.
Date of requirement entry into force – 19.07.2021
In accordance with the legislation of the European Union, the WME Guarantor has the following requirements for legal entities and sole traders for the use of WME Purses:
1. USER DETAILS and AGE RESTRICTION
Sole traders and authorised signatories with access to the WME purses must provide their name, surname, date of birth and full residential address (user location) including country of residence.
The age of the sole trader or account authorised signatory with access to the WME purses must be at least 18 years of age if he/she resides within the European Economic Area (EEA) or in the United Kingdom, or at least 14 years old if he/she is residing outside the EEA and is of legal age in their country of residence.
EEA countries include: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Gibraltar, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Hungary, Finland, Sweden.
2. RESTRICTED COUNTRIES
Legal entities and sole traders based/registered in the following countries are not permitted to use WME purses: Afghanistan, Albania, Algeria, American Samoa, Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Benin, Botswana, Bouvet Island, British Virgin Islands, Burkina Faso, Cambodia, Cayman Islands, Central African Republic, China, Christmas Island, Cocos (Keeling) Islands, Cook Islands, Côte d'Ivoire, Crimea, Cuba, Dominica, Dominican Republic, Donetsk People's Republic (DPR), Ghana, Grenada, Guam, Guyana, Haiti, Iran, Iraq, Jamaica, Kenya, Laos, Libya, Luhansk People's Republic (LPR), Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Mongolia, Morocco, Mozambique, Myanmar, Nicaragua, Niger, Nigeria, North Korea, Northern Mariana Islands, Pakistan, Panama, Puerto Rico, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Sao Tome and Principe, Senegal, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sudan, Suriname, Swaziland, Syria, the United States, Trinidad and Tobago, U.S. Virgin Islands, Uganda, Ukraine, United States Minor Outlying Islands, Vanuatu, Venezuela, Western Sahara, Yemen and Zimbabwe.
3. DOCUMENTS REQUIREMENTS
3.1. Sole traders
In order to use WME purses for business needs, sole traders will be required to:
3.1.1. Verify his or her identity
(1) Provide a government-issued document containing photographic evidence of identity from the following list:
- a valid unexpired passport;
- a valid unexpired national or other government-issued identity card.
Scanned copies or photocopies of the required documents should be uploaded to the WebMoney Passport website.
The content of the document should be written in Latin characters or in Cyrillic or you should provide a certified translation of the document into Russian or English.
(2) perform a PhotoID or VideoID verification
3.1.2. Provide a proof of address by choosing ONE of the following options:
1st option
If the residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) it is required to:
(1) Upload a copy or photocopy of the relevant document page with address to the WebMoney Passport website.
(2) Perform address photo or video verification
Address photo verification
Take a photo of yourself (selfie) along with the page of the document with the address on it and upload it for verification to the WebMoney Passport website (type "Selfie with address confirmation document").
Address video verification
It is also possible to arrange a video interview with the representative of WME Guarantor sending an email to support@webmoney.eu.
The content of the document should be written either in Latin characters or in Cyrillic. Otherwise, you should provide a certified translation of the document into Russian or English.
2nd option
Provide two (2) proof of address documents of different sources from the following list:
- utility bill dated within the last 6 months; (water, gas, electricity, landline phone);
- statement dated within the last 6 months from your current account or reference letter issued by a recognized credit institution or bank;
- certificate of registration dated within the last 6 months at a place of residence issued by a statutory authority;
- correspondence from a central or local government authority, department or agency dated within the last 6 months;
- any other government-issued document not mentioned above.
Scanned copies or photocopies of the required documents should be uploaded to the WebMoney Passport website.
Please read carefully the requirements of documents confirming a residential address.
3.2. Legal entities
In order to use WME purses, legal entities will be required to submit scanned copies of the following documents:
- Certificate of Incorporation
- Memorandum and Articles of Association (alternatively, Company Bylaws/Statutes)
- Company Ownership Documents (i.e. share certificate or other documents confirming the ownership structure of the company, up to ultimate beneficiaries (UBO’s) with a share in the company of 25% or higher)
- Certificate of Directors or Director’s register (document(s) with the names of all natural persons who exercise managerial authority over the company)
- Power Of Attorney, if applicable (confirmation of the authority of the account signatory, if the signatory is not a company director)
- Proof of Identification (Passport or ID card) and Proof of Residential Address of any UBO’S with shareholding of 25% or more, and account signatory
- Proof of identification (ID card or Passport) for Company Directors
- Proof of Company Physical Address (address where the main offices of the company are located, for example bank statement or a delivery note of office equipment, not older than 3 months, office rent agreement)
- Bank Account Confirmation (company trading account statement, or a letter from the bank confirming the company bank account, not older than 3 months)
-License, if applicable (evidence of any license your company has/must have if it operates within a regulated market).
Proof of Identification
It is required to provide a government-issued document containing photographic evidence of identity from the following list:
- a valid unexpired passport;
- a valid unexpired national or other government-issued identity card.
The copy of the document needs to be certified by a notary OR it will be required to provide a scan copy of the document and go through a PhotoID or VideoID procedure.
Proof of Residential Address
It is required to provide two (2) proof of address documents of different sources from the following list:
- utility bill dated within the last 6 months; (water, gas, electricity, landline phone);
- statement dated within the last 6 months from your current account or reference letter issued by a recognized credit institution or bank;
- certificate of registration dated within the last 6 months at a place of residence issued by a statutory authority;
- correspondence from a central or local government authority, department or agency dated within the last 6 months;
- any other government-issued document not mentioned above.
If the residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) it is required to provide a certified copy of the document OR a scan copy of the document with additional photo- or video-verification. Second proof of address will not be required in this case.
Subject to review, additional due diligence documentation might be requested.
Scanned copies of the required documents should be uploaded to the WebMoney Passport website or submitted by email.
If the documents have been uploaded to the WebMoney Passport website, it will be required to check their current validity and, if necessary, upload the updated version of the documents.
4. REGISTRATION IN MEGASTOCK
- Sole traders must be registered in Megastock.
In case a WME purse holder does not satisfy the above requirements, his/her WME user rights may be restricted (purses may be blocked) for both incoming and outgoing transactions.
Date of requirement entry into force – 19.07.2021