Use this guide to help you gather the correct documents and information to complete your Luno Business account application for an entity in Bermuda.
Note
When you're ready, use a web browser to upload your documents here. (This is not available on the mobile app).
Private company requirements
1. Nature of business (and website)
What we need: A description of what your business does and how it generates revenue. If the company has a website, please also provide the URL.
2. TIN number
What we need: If the business has registered for Tax, kindly provide the business’s TIN number.
3. Proof of address
What we need: A recent utility bill reflecting the business’s operating address (not older than 3 months), if different to the registered address.
4. Shareholding / ownership
What we need:
- Shareholder Registry and
- A signed and dated ownership chart reflecting information on all individuals holding 25% or more shares in the company.
Detailed requirements:
For each individual holding 25% or more shares, the chart must include: i) full name, ii) percentage of shareholding, iii) contact details (phone number and email address), and iv) residential and mailing address.
5. Resolution
What we need: Power of attorney or letter of authorisation signed by the directors/partners/trustees/sole proprietor (as applicable), that confirms which individuals have authority to act on behalf of the business and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Use this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all directors/partners/trustees or the sole proprietor;
- State it is a power of attorney / letter of authorisation;
- Contain the business’s full name and registration number;
- Contain the full name and ID number of all the Authorised Officials; and
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provisions quoted below:
“It is confirmed that no coalitions or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company other than those confirmed to Luno. In the event a coalition or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company, the entity will inform Luno.”
6. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document (Passport or National ID) for all of the following persons:
- Individuals with direct or indirect shareholding of at least 25% of the entity and intermediary beneficial owners (e.g. parent company and corporate shareholders), where relevant; and
- Authorised signatories / authorised persons, where relevant; and
- Directors / Board Members (private companies); or
- Managing partners (partnerships); or
- Settlors, Trustees, Beneficiaries, Protectors and any person exercising ultimate effective control (trusts).
Partnership requirements
1. Nature of business (and website)
What we need: A description of what your business does and how it generates revenue. If the company has a website, please also provide the URL.
2. TIN number
What we need: If the business has registered for Tax, kindly provide the business’s TIN number.
3. Proof of address
What we need: A recent utility bill reflecting the business’s operating address (not older than 3 months), if different to the registered address.
4. Shareholding / ownership
What we need:
- Shareholder Registry and
- A signed and dated ownership chart reflecting information on all individuals holding 25% or more shares in the company.
Detailed requirements:
For each individual holding 25% or more shares, the chart must include: i) full name, ii) percentage of shareholding, iii) contact details (phone number and email address), and iv) residential and mailing address.
5. Resolution
What we need: Power of attorney or letter of authorisation signed by the directors/partners/trustees/sole proprietor (as applicable), that confirms which individuals have authority to act on behalf of the business and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Use this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all directors/partners/trustees or the sole proprietor;
- State it is a power of attorney / letter of authorisation;
- Contain the business’s full name and registration number;
- Contain the full name and ID number of all the Authorised Officials; and
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provisions quoted below:
“It is confirmed that no coalitions or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company other than those confirmed to Luno. In the event a coalition or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company, the entity will inform Luno.”
6. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document (Passport or National ID) for all of the following persons:
- Individuals with direct or indirect shareholding of at least 25% of the entity and intermediary beneficial owners (e.g. parent company and corporate shareholders), where relevant; and
- Authorised signatories / authorised persons, where relevant; and
- Directors / Board Members (private companies); or
- Managing partners (partnerships); or
- Settlors, Trustees, Beneficiaries, Protectors and any person exercising ultimate effective control (trusts).
Sole proprietorship requirements
1. Nature of business (and website)
What we need: A description of what your business does and how it generates revenue. If the company has a website, please also provide the URL.
2. TIN number
What we need: If the business has registered for Tax, kindly provide the business’s TIN number.
3. Proof of address
What we need: A recent utility bill reflecting the business’s operating address (not older than 3 months), if different to the registered address.
4. Shareholding / ownership
What we need:
- Shareholder Registry and
- A signed and dated ownership chart reflecting information on all individuals holding 25% or more shares in the company.
Detailed requirements:
For each individual holding 25% or more shares, the chart must include: i) full name, ii) percentage of shareholding, iii) contact details (phone number and email address), and iv) residential and mailing address.
5. Resolution
What we need: Power of attorney or letter of authorisation signed by the directors/partners/trustees/sole proprietor (as applicable), that confirms which individuals have authority to act on behalf of the business and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Use this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all directors/partners/trustees or the sole proprietor;
- State it is a power of attorney / letter of authorisation;
- Contain the business’s full name and registration number;
- Contain the full name and ID number of all the Authorised Officials; and
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provisions quoted below:
“It is confirmed that no coalitions or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company other than those confirmed to Luno. In the event a coalition or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company, the entity will inform Luno.”
6. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document (Passport or National ID) for all of the following persons:
- Individuals with direct or indirect shareholding of at least 25% of the entity and intermediary beneficial owners (e.g. parent company and corporate shareholders), where relevant; and
- Authorised signatories / authorised persons, where relevant; and
- Directors / Board Members (private companies); or
- Managing partners (partnerships); or
- Settlors, Trustees, Beneficiaries, Protectors and any person exercising ultimate effective control (trusts).
Trust requirements
1. Nature of business (and website)
What we need: A description of what your business does and how it generates revenue. If the company has a website, please also provide the URL.
2. TIN number
What we need: If the business has registered for Tax, kindly provide the business’s TIN number.
3. Proof of address
What we need: A recent utility bill reflecting the business’s operating address (not older than 3 months), if different to the registered address.
4. Ownership
What we need: Please upload these documents as proof of ownership:
- Trust deed (and amendments); and
- Trustee appointment evidence; and
- Corporate trustee verification (if applicable)
5. Resolution
What we need: Power of attorney or letter of authorisation signed by the directors/partners/trustees/sole proprietor (as applicable), that confirms which individuals have authority to act on behalf of the business and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Use this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all directors/partners/trustees or the sole proprietor;
- State it is a power of attorney / letter of authorisation;
- Contain the business’s full name and registration number;
- Contain the full name and ID number of all the Authorised Officials; and
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provisions quoted below:
“It is confirmed that no coalitions or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company other than those confirmed to Luno. In the event a coalition or agreements exist whereby such a group or coalition of beneficial owners jointly hold the controlling ownership interest control over the company, the entity will inform Luno.”
6. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document (Passport or National ID) for all of the following persons:
- Individuals with direct or indirect shareholding of at least 25% of the entity and intermediary beneficial owners (e.g. parent company and corporate shareholders), where relevant; and
- Authorised signatories / authorised persons, where relevant; and
- Directors / Board Members (private companies); or
- Managing partners (partnerships); or
-
Settlors, Trustees, Beneficiaries, Protectors and any person exercising ultimate effective control (trusts).