Al Awsat.com
Open an Account
You can open an online trading account to trade in GCC and US markets via Al Awsat.com.
REQUIREMENTS AND CONDITIONS TO OPEN A NEW ONLINE TRADING ACCOUNT?
REQUIREMENTS AND CONDITIONS TO OPEN A NEW ONLINE TRADING ACCOUNT?
- Fill and sign the Account Opening Form available on the website or by visiting Customer Service Department at the company’s head office
- Send required documents with the Account Opening Form attached to Customer Service Department at the company’s head office
- To open and activate the account, the client must deposit the minimum required amount in Kuwaiti Dinars or its equivalent in other currencies; otherwise, the client can deposit shares of the same value
Individual Account Opening
Valid copy of the following documents:
- Civil ID for Kuwaitis and residents.
- Passport copy for non-residents (attested by the Embassy of the State of Kuwait in the country of origin).
- Photocopy of the ATM card (KNET) or letter from the bank that contains client bank details (for non-resident).
- In case of multi nationality, a copy of the other citizenship carried should be provided.
- In case of delegation to another person to manage the account, an internal power of attorney from the client should be provided.
- Fill out and sign know your customer form (KYC) for the authorized person, in addition to a copy of his identities.
- Authenticated signature of the client, or the authorized person from a local bank in the country of origin in case if the client can’t be present at the headquarters of the company. (and attesting those documents by the Embassy of the State of Kuwait in the country of origin – for non-resident).
- Fill and sign foreign account tax compliance – FATCA form by the client (Mandatory for all clients).
- Fill and sign Questionnaire form of Common Reporting Standards – CRS form by the client (Mandatory for all clients) with the form if required.
Minor Account Opening
Required documents
Valid copy of the following documents:
- For Kuwaitis and residents: Civil ID copy for the minor, the guardianship, the person subject to guardianship and the interdict.
For non-residents: A passport copy for the minor, the guardianship, the person subject to guardianship and the interdict (attested by the Embassy of the State of Kuwait in the country of origin). - In case of multi nationality, a copy of the other citizenship carried for the minor, the guardianship, the person subject to guardianship and the interdict, should be provided.
- Photocopy of the ATM card (KNET) for Minor or letter from the bank that contains minor bank details (for non-resident).
- Copy of the final provision must be provided, in case of custody or guardianship.
- Authenticated signature of the guardian, the person subject to guardianship of a local bank in the country of origin in the event that the client can not be present at the headquarters of the company.
- Fill and sign foreign account tax compliance – FATCA form by the guardianship (Mandatory for all clients).
- Fill and sign Questionnaire form of Common Reporting Standards – CRS form by the guardianship (Mandatory for all clients) with the form if required.
Corporate Account Opening
Required documents
Valid copy of the following documents:
Valid copy of the following documents:
-
- Memorandum of Association, Articles of Association and its amendments “if any”.
- Commercial registration & company license.
- For Kuwaiti Companies, civil Id number issued by The Public Authority for Civil Information with authorized signatory
- Board of directors “To whom it may concern certificate ” issued by the official bodies in the country. In addition to a copy of their personal documents for residents, civil Id copy and for non-residents passport copy (With Company Stamp).
- Authorized signatories “To whom it may concern certificate”
- List of authorized persons names in addition to a copy of their personal documents.
- Copy from the Board of Directors approval to open the account and grant the authority to the authorized signatories.
- In case the company’s activity needs a license from a governmental authority, the license should be provided.
- (All of the above documents must be attested as original by the embassy of the state of Kuwait in the country of origin, in addition the authorized signatories signatures should be attested from one of the local banks and attesting those documents by the Kuwait Embassy in the country of origin).
- Fill and sign Authority of money laundering (AML) Questionnaire for Investment Companies and Financial Institutions.
- Fill and sign Foreign Account Tax Compliance (FATCA) form by the authorized signatory (Mandatory).
- Fill and sign Entities Questionnaire form for Common Reporting Standards (CRS) form by the authorized signatory (Mandatory) with the form if required.
- In case of investment funds a copy from the Articles of Association should be available + Prospectus + Fund license or approval for fund establishment + requested documents of the company (Fund Manager).