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Registration Guidelines

Please read carefully

PLEASE HAVE ALL YOUR DOCUMENTS READY BEFORE YOU BEGIN UPLOADING THEM ONLINE.

Documents required for FICA and your TAX CLEARANCE CERTIFICATE are outlined in detail below.

Documents that support your SOURCE OF FUNDS are outlined in detail are HERE.

The online registration assumes 3 steps:

#1.  RISK PROFILING QUESTIONNAIRE (2 mins, no documents required). Completed online HERE.

#2.  FICA ONBOARDING (10 mins, uploading ID, proof of address, 3 months bank statements, proof of funds). Once complete we begin trading your SDA (R1m Single Discretionary Allowance).

#3.  APPLICATION FOR YOUR FIA (R10m FOREIGN INVESTMENT ALLOWANCE). This is the most important step to ensure your maximum return from the trade. We will introduce you to one of our dedicated in-house accountants to oversee the entire FIA application and certification process for a nominal fee.

We respect your privacy, treating you as we expect to be treated ourselves. We adhere to POPI requirements, ensuring your data is confidential and secure. By completing this onboarding you accept our Terms & Conditions and our Privacy Policy. Contact us to discuss this in more detail.

PHASE 1 -  SDA (R1m Single Discretionary Allowance)

Step 1

Personal information gathering and a basic risk profiling questionnaire to determine you are a qualified investor.

Step 2

KYC (Know Your Client) + FICA (Financial Intelligence Centre Act) both of which are a standard AML (Anti-Money Laundering) and regulatory requirement.

Step 3

Sign our SLA using DocuSign, a digital form which will be emailed to you for signing online (no printing or scanning required)

Please have the following ready to upload:

  • Copy of your ID (both sides if a card)
  • Selfie with your ID (clearly visible)
  •  Income Tax Number
  • Proof of residential address (which matches your bank statements)
  • Bank account details and 3 months statement

Step 4

Proof of available funds to trade:

This is the most important documentation to ensure your trade is legal.

This policy outlines what is considered a valid source of funds for Crypto transactions, the documents required per type of source of funds and source of funds types that aren’t accepted.

General Requirements

  • 3 months account statements from the funding account
  • All bank statements should have an account number on
  • All bank statements should have the account holder’s name on it
  • All bank statements should have a date range

Savings

  • 3 months account statements (standard savings account)
  • If the client submits statements from an account that issues quarterly, a transaction history is required after 30 days
  • For account statements issued monthly, the most recent statement is required
  • Require further information on larger credits (client dependent)
  • Client must provide 3 month’s statements from the account where the transfer originated from

Investments and dividends from listed companies:

  • Investment statement
  • Most recent statement
  • No proof of disinvestment is required unless the client also submits bank statements where the money from the disinvestment has already reflected

Investments (Retirement Annuity):

  • Proof of disinvestment required
  • 1 month bank statement showing funds received

Donation between spouses:

  •  Marriage Certificate
  • 3 month’s statements from the account where the trade money is coming from
  • 3 month’s statements for the account holder

Dividend from private company:

  • Proof of share ownership (Share Certificate/Share Register)
  • Resolution to declare dividend signed by board of directors
  • 1 month bank statement showing funds received

Sole Proprietor:

  • 3 month’s statements for the sole proprietor account

Loan from NCR (e.g. Credit Card/Home Loan/Overdraft):

  • Credit card
  • 1 month statement (most recent) showing available facility
  • 3 month’s cheque/savings account statements
  • Home loan
  • 1 month statement (most recent) showing available facility
  • 3 month’s cheque/savings account statements
  • Overdraft
  • 1 month statement (most recent) showing available facility
  • 3 month’s cheque/savings account statements

Trusts:

No loans from trusts allowed but distribution to beneficiary is allowed:

  • Trust deed
  • Letter of Authority
  • Resolution signed by Trustees
  • 1 month statement (most recent) showing funds

Sale of Asset (House/Motor Vehicle etc.):

  • Contract of sale
  • Statement showing funds available
  • 3 month’s savings/cheque account statements

Insurance policy pay-outs:

  • Proof of policy
  • Statement from insurer showing the payout
  • 3 month’s personal bank statements

Repayment of loan made to private company:

  • Proof of loan being made to company (loan agreement)
  • Proof of loan being repaid to client (resolution by directors)
  • 3 month’s savings/cheque account statements

Source of Funds that don’t qualify:

  • 3rd party payments/donations
  • Business funds that haven’t been paid out as dividends or loan repayment
  • Personal loans from a non-registered credit provider
  • Loans from trusts or companies

PHASE 2 - FIA (R10m Foreign Investment Allowance)

This requires you to register with our Foreign Exchange (FX) division who will also open your personal CCM transactional “crypto” account with Investec Bank (Authorised Dealer).

This document outlines what is allowed and required from an individual that is applying for a Tax Clearance Certificate (TCC) for his/her annual FIA.

Loan

Only loans between spouses are allowed:

  • Loan agreement; and
  • Bank statement of the spouse loaning, not older than 3 months

Donation

If the donation is between spouses:

  • A declaration (IT144); and
  • Bank statement of donee, not older than 3 months

Inheritance

  • Letter from the executor of the estate;
  • A copy of the liquidation & distribution account; and
  • Bank statement, not older than 3 months

Savings / Cash / Bank Account / Fixed Deposits / Home Loan

  • Bank statement, not older than 3 months; and
  • Proof of source (i.e. where and how you obtained the money)

Shares

  • Portfolio statement not older than 3 months. This statement will also include the amount of shares and current market value

Royalty Income

  • Source of royalty income; and
  • Proof of royalty payment

Sale of Property

  • A copy of the transfer duty
  • Original letter of the Conveyancer to confirm the transfer of the property and that the money will be transferred from the trust account; or
  • Proof of receipt of the proceeds together with applicant’s bank statement not older than 3 months

Earnings

  • Where you have recurring foreign investments not exceeding R30 000 per annum a copy of a salary slip is needed once a year
  •  The policy number; and
  •  It must be noted that the institution (e.g. Sanlam / Old Mutual) will apply on behalf of the taxpayer

Distributions from a trust

  • Resolutions form the Trust making the distributions;
  • Details of the source from the Trust making the distribution;
  • Bank statement of Trust, not older than 3 months; or
  • Trust’s latest share portfolio statement (not older than 3 months); this statement will also include the amount of shares and current market value

Other

  • Documentary proof and explanation
It’s our Clients’ responsibility to manage their own tax liability and to declare their profits, which at this stage are considered part of your gross income, therefore income tax. We are in the process of implementing a tax-friendly solution for our clients.
3rd PARTY LOANS ARE NOT ALLOWED FOR CRYPTO – RELATED TRANSACTIONS
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