On 21 July 2014, the Organisation for Economic Co-operation and Development (OECD) released a Standard for Automatic Exchange of Financial Account Information in Tax Matters. The Client understands that the Bank may need to apply enhanced due diligence procedures to record the residence for tax purposes of the Client. In the above-mentioned context and, in particular, as part of the account opening process, the Client provides the Bank with the following information:
For further information on the residence for tax purposes, reference is made to the General Terms and Conditions. You may need to refer to a tax advisor and/or to sources publicly available in order to duly complete this section.
Please note that all cash inflows and outflows will be made from and to your reference account(s), which must be under your own name You can add several reference accounts, as long as they are under your own name. Cash outflows cannot be transferred to a third party, likewise cash inflows cannot be accepted from a third party's account.