1. To open a Business account with Collect & Pay, fill out the Corporate account application form at: https://platform.collectnpay.com/fo/index.php?request=corporate
  2. In order to complete the Business account opening process, you need to provide us with the following documents:Corporate Documents
    • Certificate of Incorporation
    • Memorandum and Articles of Association
    • Certificate of Incumbency or Certificate of Good Standing (for companies registered more than 1 year ago and where it is not possible to verify status of the corporation online, i.e. in publicly available Company Registry of the country of registration)
    • Confirmation that the signatory person has authorization to act on behalf of the corporation. The signatory must provide proof that he/she has authorization and the right to sign on behalf of the company, open the account and manage the funds of the corporation, such as a power of attorney or a board resolution.
    • Document showing the TAX ID of the corporation.
    • Director’s Resolution (the most updated one) / Register of Directors & Secretary (if available)
    • Register of Members / Shareholders
    • Share Certificates
    • Declaration of Trust (if applicable)
    • If customer is offering any type of financial services or any type of business activity requiring special license in jurisdiction of the company registration, the applicant must provide the license.
    • Printed & signed Collect & Pay Application form.
    For all directors, shareholders, UBOs and signatory:
    • Proof of identity – colored copy of passport or national ID document. Identification document must have a reference number, a photo, a signature, date of birth and an expiration date.
    • Proof of address – colored copy of utility bill less than 3 months old (electricity, gas, water, Internet, phone). Alternatively, we can accept a confirmation of residential address from a city hall or similar document that confirms the person lives at a certain address. Bank statements are not accepted as a proof of residency.
    • Selfie of the person holding the passport.
    • Printed & signed Collect & Pay Application form.
    All documents must be certified except the Collect & Pay Application form. Certification can be done by a notary, qualified accountant, lawyer, bank officer or police officer. Collect & Pay must have sufficient details to be able to contact the certifier to confirm that they are qualified and have carried out the certification.

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