KYC Requirements

Legal Entities residents

To comply with Canadian corporate registration laws and AML/KYC regulations, legal entities incorporated in Canada are required to submit the following documents during onboarding. The documents listed may vary by the entity’s province of incorporation:

Data and registration should be provided online.

• Corporation Types (e.g., Federal/Provincial Corporations):

  • Certificate of Incorporation.
  • Corporate Profile Report or Annual Return (recent).
  • Articles of Incorporation.
  • Business Number (BN).
  • Beneficial ownership registry (for anyone holding 25% or more) & Directorship registry.
  • Proof of registered office & business address (e.g., Utility bill, Lease agreement, or Bank statement not older than 90 days).
  • Financial Statements & Report (if applicable).
  • Documents confirming relationships with counterparties (e.g. Contracts & Invoices);
  • Document confirming the power of representation for company’s representative (e.g. Memorandum & Articles of Association, Power of Attorney etc.).
  • Identification documents and proof of address (not older than 90 days) for key individuals, including directors, shareholders, UBOs and company’s representative.
    *Please refer to the last pages to see ID Document and proof of address requirements

• Limited Partnerships (LPs):

  • Certificate of Limited Partnership.
  • Partnership Agreement.
  • Provincial Registration documents (depending on the province).
  • Business Number (BN).
  • Beneficial ownership declaration and identification of partners.
  • Beneficial ownership declaration and identification of partners.
  • Proof of registered office & business address (e.g., Utility bill, Lease agreement, or Bank statement not older than 90 days).
  • Documents confirming relationships with counterparties (e.g. Contracts & Invoices).
  • Financial Statements & Report (if applicable).
  • Document confirming the power of representation for company’s representative (e.g. Memorandum & Articles of Association, Power of Attorney etc.).
  • Identification documents and proof of address (not older than 90 days) for key individuals, including directors, shareholders, UBOs and company’s representative.
    *Please refer to the last pages to see ID Document and proof of address requirements

*** The list of required documents for legal entities may vary slightly depending on the province of incorporation. Montowire provides a general breakdown based on provincial requirements, but this may not represent the full list of documents necessary for each jurisdiction. It is the responsibility of the client to ensure that all specific provincial requirements are met and that the correct and complete documentation is provided in accordance with the laws of the relevant province.

*** Montowire retains the right to request any additional documentation deemed necessary during the compliance review process, in order to meet all regulatory and due diligence requirements as part of the client onboarding procedure.

Ontario:

• Articles of Incorporation (Form 1).
• NUANS Name Search Report (if using a custom corporate name).
• Initial Return/Notice of Change (Form 1).
• Corporate By-laws.
• Business Number (BN) from CRA.
• Proof of Registered Office Address.
• Director Consent Forms and declaration of residency (25% of directors must be Canadian residents).

British Columbia:

• Incorporation Application (includes Notice of Articles).
• Corporate Name Reservation (if using a custom name).
• Articles of Incorporation.
• Registered and Records Office Address.
• Business Number (BN).

Quebec:

• Declaration of Registration (DÉCL).
• Articles of Incorporation.
• Business Name Registration (if using a name other than the founder’s personal name).
• Proof of Registration with the Registraire des entreprises.
• Certificate of French Language Compliance (business name must be in French or accompanied by a French version).

Alberta:

• Articles of Incorporation.
• Notice of Address for Service.
• Director Consent forms.
• Corporate By-laws.
• Business Number (BN).

Nova Scotia:

• Articles of Incorporation.
• Notice of Registered Office.
• Director Consent Forms.
• Business Number (BN).
• Annual Registration Fee (noteworthy for being significantly higher than other provinces due to additional requirements).
• Unlimited Liability Company (ULC) option, commonly used for cross-border tax purposes.

Saskatchewan:

• Articles of Incorporation.
• Name Reservation Report.
• Notice of Registered Office and Directors.
• Director Consent Forms.
• Business Number (BN).

Proof of Address Requirements

Montowire requires that proof of address be a document issued no more than 90 days prior to submission. The document must clearly show the individual’s name and the declared address. No translation is required for documents in the original language.

Submission Guidelines:

• If the document is in electronic form, you can upload it directly.
• If the document is in paper form, we recommend uploading a photo rather than a scan. The photo must be free of glare, show all document edges clearly, and the text must be legible.

Acceptable Proof of Address:

1. Utility bills for essential services such as electricity, water, gas, waste disposal, telephone (landline), or internet (landline). Please note that only bills issued by the service provider are accepted; payment receipts are not acceptable.
2. Bank statements, credit card statements, or a letter from the bank confirming the existence of an account.
3. Correspondence or certificates issued by government authorities.
4. Lease agreements and/or rental invoices.
5. Tax returns.
6. Council tax bills.

Unacceptable Proof of Address:

1. Mobile phone bills.
2. Identification documents that include an address (e.g., driver’s license, national ID).
3. Letters from housing cooperatives/ homeowners’ associations or similar organizations.
4. Payment receipts for utility services issued by banks or payment institutions.
5. Bills for non-utility services, such as medical, insurance, or educational services.
6. Screenshots of any documents.

ID Document Requirements

To comply with Montowire’s identity verification process, all identification documents must meet the following requirements:

Acceptable ID Requirements:

1. Photos of both sides of the document must be uploaded if the ID has two sides.
2. The ID document must be valid for at least 3 months from the upload date. If the document is valid for less than three months, please contact Montowire’s support team for further guidance.
3. The document must not be scratched, stained, torn, or damaged in any way that affects readability.
4. The applicant’s full name, date of birth, MRZ (Machine-Readable Zone), and other important information must be present and legible.
5. All ID documents must belong to the same person whose identity is being verified.

Submission Guidelines:

• All ID documents must be submitted as photos
  

  

  
• The photo should be free of glare, show all edges clearly, and ensure that the text and relevant details are readable.

Legal Entities non-residents

To ensure compliance with Canadian regulations, including international AML laws, KYC requirements and cross-border regulations, non-resident legal entities conducting business with Montowire must provide the following documentation:

Data and registration should be provided online.

• Questionnaire for corporate customers.
• Operating website¹.
• Certificate of Incorporation/extract from relevant corporate registrar².
• Articles of Incorporation or equivalent founding document.
• Proof of registered office & business address (e.g., Utility bill, Lease agreement, or Bank statement not older than 90 days).
• Beneficial ownership registry (for anyone holding 25% or more) & Directorship registry.
• Tax Identification Number (if applicable).
• Financial Statements & Report (if applicable) or detailed business model description/business plan.
• Statements from payment and/or investment accounts for last available 3 months (if applicable).
• License in case of licensed activity³.
• Documents confirming relationships with counterparties (e.g. Contracts & Invoices).
• Document confirming the power of representation for company’s representative (e.g. Memorandum & Articles of Association, Power of Attorney etc.).
• Identification documents, proof of address (not older than 90 days) and CV`s for key individuals, including directors, shareholders, UBOs and company’s representative⁴.
  *Please refer to the next pages to see ID Document and proof of address requirement
• Person that declared as account signatory (Director or other person that will manage account should proceed with selfie holding ID document on-line;
• For Financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) additional documents required, please refer to separate list.

¹ In case if on website registration data not provided, domain proof of ownership may be requested. In case if Website absent, Customer may provide other public source (not government registrar) where data about activity of company may be gathered.

² In case if URL of government corporate register can`t be provided, corporate documents should be notarized and apostilled/legalized where required.

³ In case if Customer provide activity that usually deemed to be licensed, but doesn`t have license, Legal opinion may be requested.

⁴ In some cases, Source of Wealth of UBOs may be requested (tax declarations, account statements, etc.)

*** Montowire retains the right to request any additional documentation deemed necessary during the compliance review process, in order to meet all regulatory and due diligence requirements as part of the client onboarding procedure.

Proof of Address Requirements

Montowire requires that proof of address be a document issued no more than 90 days prior to submission. The document must clearly show the individual’s name and the declared address. No translation is required for documents in the original language.

Submission Guidelines:

• If the document is in electronic form, you can upload it directly.
• If the document is in paper form, we recommend uploading a photo rather than a scan. The photo must be free of glare, show all document edges clearly, and the text must be legible.

Acceptable Proof of Address:

1. Utility bills for essential services such as electricity, water, gas, waste disposal, telephone (landline), or internet (landline). Please note that only bills issued by the service provider are accepted; payment receipts are not acceptable.
2. Bank statements, credit card statements, or a letter from the bank confirming the existence of an account.
3. Correspondence or certificates issued by government authorities.
4. Lease agreements and/or rental invoices.
5. Tax returns.
6. Council tax bills.

Unacceptable Proof of Address:

1. Mobile phone bills.
2. Identification documents that include an address (e.g., driver’s license, national ID).
3. Letters from housing cooperatives/ homeowners’ associations or similar organizations.
4. Payment receipts for utility services issued by banks or payment institutions.
5. Bills for non-utility services, such as medical, insurance, or educational services.
6. Screenshots of any documents.

ID Document Requirements

To comply with Montowire’s identity verification process, all identification documents must meet the following requirements:

Acceptable ID Requirements:

1. Photos of both sides of the document must be uploaded if the ID has two sides.
2. The ID document must be valid for at least 3 months from the upload date. If the document is valid for less than three months, please contact Montowire’s support team for further guidance.
3. The document must not be scratched, stained, torn, or damaged in any way that affects readability.
4. The applicant’s full name, date of birth, MRZ (Machine-Readable Zone), and other important information must be present and legible.
5. All ID documents must belong to the same person whose identity is being verified.

Submission Guidelines:

• All ID documents must be submitted as photos
  

  

  
• The photo should be free of glare, show all edges clearly, and ensure that the text and relevant details are readable.

Financial Institution

To adhere to financial industry standards and ensure compliance with Canadian regulations, including international AML laws, KYC requirements and cross-border regulations, financial institutions and Designated Non-Financial Businesses and Professions¹ engaging with Montowire are required to submit the following documentation during the onboarding process:

Data and registration should be provided online.

• Special questionnaire for Financial institutions.
• Regulatory license or authorization to operate as a financial institution.
• Proof of registration with the appropriate financial regulator.
• Financial institution’s Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.
• Regulatory filings and annual reports.
• External AML/CFT audit reports/reviews (if applicable);
• Data, ID and CV of compliance officer/MLRO;
• Data and contracts with relevant AML/CFT services providers/contracts with IT-tools vendors or specification about internal solutions;
• Samples of KYC/KYB packages of customers;
• Any data and documentation about on-site/off-site investigation by your supervisory authority (if applicable);
• Wolfsberg questionnaire if applicable;
• Data about liquidity providers (if applicable);
• Other documents, subject to review.

¹ accountants, accounting firms, real estate agents, brokers, dealers in precious metals and stones, notaries (in Quebec), casinos, lawyers (limited scope), Notaries, Gambling operators, trust and company service providers, money service businesses (MSBs), and life insurance companies, brokers, and agents involved in specific transactions

*** Montowire retains the right to request any additional documentation deemed necessary during the compliance review process, in order to meet all regulatory and due diligence requirements as part of the client onboarding procedure.