Opening of Client Accounts – Non-Resident
  1. Non-resident Individuals

  2. Non-Resident Corporates/Foreign Institutions

  3. Non-Resident Collective Investment Schemes/Funds

Non-Resident Foreigners

  1. A copy of the valid Foreign Passport for Non nationals

  2. CDS Form 1

  3. CDS Form 1(A)

  4. Proof of residency document as per the Rules issued by the Financial Intelligence Unit of Sri Lanka

  5. If a Non-national applicant wishes to open an account giving a local correspondence address that person should provide sufficient information regarding the correspondence address (e.g. Valid residential visa)

  6. SIA (Securities Investment Account) account details with documentary proof.

Note:
If the account is to be opened using a Power of Attorney (POA) a copy of a valid POA is required

Non-Resident Sri Lankans

In the event a resident Sri Lankan becomes a non-resident that person would have to open a new (Foreign) account. In such an instance the following documents relating to opening a foreign Client account needs to be submitted.

  1. A copy of the Sri Lankan valid Passport.

  2. CDS Form 1

  3. CDS Form 1(A)

  4. CDS Form 1 (C)

  5. Proof of residency document as per the Rules issued by the Financial Intelligence Unit of Sri Lanka

  6. SIA (Securities Investment Account) account details with documentary proof

Non-Resident Corporates/Foreign Institutions

  1. A copy of the certificate of incorporation of the company or equivalent document, issued by the Registrar of Companies*

  2. If the company has changed its name, a copy of the certificate of name change issued by the Registrar of Companies*

  3. A copy of the articles of association of the company or an equivalent

  4. A copy of the certificate of Good Standing or an equivalent document issued within a period of one year by the Registrar of Companies*

  5. A certified extract of the resolution passed by the Board of Directors to open the CDS account. In the alternative the company may provide a certification in the relevant section in the account opening form(CDS Form 2)

  6. Certificate to Commence Business issued by the Registrar of Companies* (Where applicable)

  7. A letter issued within 3 month period preceding the date of the application to the CDS from the Company Secretary confirming the names, addresses, occupations and passport numbers of Directors of the company.

  8. If the company is listed in a regulated Stock Exchange only the names of directors and the name of the Stock Exchange (web site reference is sufficient) should be given

  9. If the Director(s) is/are also a company the following should be furnished

    • Name of the director of the company

    • Date of Incorporation

    • Place of Incorporation

    • Registered address

  10. A letter, issued within 3 month period preceding the date of the application to the CDS to from the company confirming the top 10 shareholders/members’ names and addresses. (Not applicable if the company is listed in a Stock Exchange. In such an instance web site reference will be sufficient)

  11. If the application includes a Global Custodian and the application is forwarded through a Custodian Bank, a copy of the SWIFT message or similar document issued by the Global Custodian instructing the local Custodian Bank to open the account on behalf of the beneficiary company should be submitted together with a declaration from the Global Custodian that a Custody arrangement or agreement exists between the Global Custodian and the beneficiary

  12. CDS Form 2

  13. CDS Form 2(A)

Note:
If a person other than a Director of the company signs the CDS application form on behalf of the applicant company

  • A certified copy of the power of attorney/board resolution authorizing such persons to sign on behalf of the company

  • A copy of the NIC/Passport of such persons should be attached

Non-Resident Collective Investment Schemes (Funds)

  • Copy of the document relating to the name of the fund, place and date of establishment of the Fund (Prospectus, Trust Deed or other legal document)

  • Copy of the document relating to appointment of the Manager of the Fund or Trustees

  • If the Fund Manager/Trustee is a company,

    • Name of the Fund Manager.

    • Date of Incorporation.

    • Place of Incorporation.

    • Registered Address

  • Sufficient proof that the Fund Manager/Trustee is incorporated – proof being certificate of incorporation from the Registrar of Companies or the relevant authority in its country of origin.

  • If the Fund Manager/Trustee(s) is not an incorporated entity, individual names and addresses of the persons who are responsible for the management of the fund should be given

  • Source of the applicant fund where available

  • Purpose/objective of the fund

  • A copy of the letter issued by the supervisory authority of the relevant country (within a period of one year). However, where the applicant fund is exempted from regulation, a confirmation must be provided of the Law under which the fund is exempted and other relevant proof.

  • Where the application is titled in the names of the ‘Registered Holder/Global Custodian/Beneficiary’ and forwarded through a Custodian Bank, a copy of the SWIFT message or similar document issued by the Global Custodian instructing the local Custodian Bank to open the account on behalf of the beneficiary Company should be submitted together with a declaration from the Global Custodian that a Custody arrangement or agreement exists between the Global Custodian and the beneficiary.

  • Copy/copies of the Custody Agreement/s.

  • Details of beneficiaries/unit holders of the Fund

  • Sufficient proof that the applicant fund is legally permitted to invest in securities outside the country of its incorporation or establishment – proof being, for example – in the form of Memorandum & Articles of Association, Prospectus or other relevant documents.

  • CDS Form 2

  • CDS Form 2 (A)

Note:
The person signing the documents on behalf of the applicant should be identified as follows,

  • A certified copy of the Board Resolution /Power of Attorney authorizing such person to sign on behalf of the Fund

  • A copy of Passport of such person/s

  • A letter from the Participant confirming the name of the applicant, registered address of the applicant, name of the Fund Manager, registered address of the Fund Manager, and The place and date of incorporation of the Fund Manager (where applicable)

Certification of non-resident applicants as per the FIU Guidelines

  • By the Company Registry or similar authority, where the documents were originally issued (applicable for Corporate Bodies), or

  • By a Sri Lankan diplomatic officer or Sri Lankan consular officer in the country where the documents were originally issued, or

  • By a Solicitor, Attorney-at-Law, Notary Public, practicing in the country where the applicant resides, or

  • Custodian Bank, or

  • Global Custodian – The Custodian Bank should certify the authenticity of the signature of the Global Custodian or,

  • Broker. (Applicable only in respect of Individuals.)