How to Become a Client – Legal Entity
Clients expect their financial institution to provide appropriate and high-quality services while ensuring the security of their assets. In order to meet these expectations, financial institutions apply the principle of “Know Your Customer” (KYC).
In line with this principle, we routinely request our clients to provide information regarding their financial activities and to ensure that their personal data remains up to date. The collection of such data serves to prevent financial fraud and identity theft, thereby helping to protect your assets and interests.
Your registration as a client of FFBH is conducted in strict compliance with the applicable legal framework, including but not limited to the Markets in Financial Instruments Act (MFIA), the Measures Against Money Laundering Act (MAMLA), the Measures Against the Financing of Terrorism Act (MAFTA), the Tax and Social Security Procedure Code (TSSPC), the Personal Data Protection Act (PDPA), Delegated Regulation (EU) 2017/565, as well as related ordinances, regulations, and other relevant legal acts.
Below you will find an outline of the procedure for identification and entering into a contractual relationship with FFBH as a legal entity.
I. As a Legal Entity, You Must Prepare at a Minimum:
1. For the Identification of the Legal Representatives and Ultimate Beneficial Owners (UBOs) – Natural Persons:
A) A certified copy of a valid ID card or passport (front and back), bearing a handwritten note with full name, date, and signature for each authorized representative;
B) A certified copy of a valid ID card or passport (front and back), bearing a handwritten note with full name, date, and signature for each ultimate beneficial owner holding more than 20% equity participation, if more than one exists.
2. For the Identification of the Legal Entity:
A) A list of required corporate documents is available here;
B) During the identification procedure, additional information and documentation may be requested in order to determine the UBO(s) and/or establish the origin of funds.
II. You must complete the designated questionnaire, which can be found HERE, and upload the above-listed documents at the end of the form.
III. Within 24 hours, an FFBH representative will contact you to arrange a specific date and time for a video identification session of the authorized representative of the legal entity.
During the session, the representative must present both sides of their identification document. The session will be recorded in accordance with the requirements of MAMLA.
IV. Upon successful completion of the identification procedure and clarification of the information required under MAMLA and MFIA, you will be provided with an investment services agreement, which may be executed through one of the following three methods:
- By qualified electronic signature (QES) and submitted via email;
- Signed in the presence of a notary, with notarized signature, and sent via post or courier;
- Signed in person at the FFBH office.
V. Upon execution and receipt of the agreement, your account for trading in financial instruments will be deemed open. You may then contact a representative at trading@ffbh.bg to place orders.
VI. In the event that the agreement is to be executed by a proxy, a notarized specific power of attorney authorizing transactions with financial instruments must be submitted.
Please contact our compliance team at compliance@ffbh.bg for further guidance and instructions.
Note: All data and documents collected by FFBH from clients and/or prospective clients are stored and/or destroyed in accordance with the requirements of the Personal Data Protection Act (PDPA) and the General Data Protection Regulation (EU Regulation 2016/679).