AWSAT
Open an Account
You can open an online trading account to trade in GCC and US markets via Awsat.
REQUIREMENTS AND CONDITIONS TO OPEN A NEW ONLINE TRADING ACCOUNT?
- Fill out and sign the account opening application by visiting the company’s headquarters and customer service department.
- Attach the required documents to the account opening application.
- Deposit the minimum required to open and activate the account in Kuwaiti dinars or its equivalent in other currencies, or by transferring shares of the same value.
Individual Account Opening
Copy of The Following “Validity Is a Must”
- Civil ID Copy for Kuwaitis and residents.
- Passport copy for non-residents (attested by the State of Kuwait Embassy in the Country of Origin).
- Letter from the bank or any documents as proof of the client’s bank account details.
- 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 should be provided and signed by both the principal and the attorney and copy from personal documents (Personal attendance for both).
- Fill in and sign the Foreign Account Tax Compliance – FATCA form by the client (Mandatory for all clients) with the form if required.
- Fill and sign Questionnaire form of Common Reporting Standards- CRS form by the client (Mandatory for all clients) with the form if required
- Authenticated signature of the client, or the authorized person from a local bank in the country of origin in case the client cannot be present at the headquarters of the company. (Verify all the documents through a third-party known to KMEFIC, in addition to attesting those documents by the Embassy of the State of Kuwait in the country of origin – for non-residents).
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.
- 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
Copy of The Following “Validity Is a Must”
- 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 them personal documents for residents, civil Id copy and for non-residents passport copy (With Company Stamp).
- Authorized signatories “To whom it may concern certificate” issued by the official bodies of the country in addition to signature verification and a copy of their personal documents.
- 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.
- 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) with the form if required.
- 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).
- Authenticated signature of the client, or the authorized person from a local bank in the country of origin in case the client cannot be present at the headquarters of the company. (Verify all the documents through a third-party known to KMEFIC, in addition to attesting those documents by the Embassy of the State of Kuwait in the country of origin – for non-residents).