Requirements for WME Purse owners (Legal Entities and Sole Traders)
In accordance with the legislation of the European Union, the WME Guarantor has the following requirements for legal entities and sole traders for the use of WME Purses:
1. USER DETAILS and AGE RESTRICTION
Sole traders and authorised signatories with access to the WME purses must provide their name, surname, date of birth and full residential address (user location) including country of residence.
The age of the sole trader or account authorised signatory with access to the WME purses must be at least 18 years of age if he/she resides within the European Economic Area (EEA), or at least 14 years old if he/she is residing outside the EEA and is of legal age in their country of residence.
EEA countries include: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Gibraltar, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Hungary, Finland, Sweden and the United Kingdom.
2. RESTRICTED COUNTRIES
Legal entities and sole traders based/registered in the following countries are not permitted to use WME purses: Albania, American Samoa, Afghanistan, Barbados, Bahamas, Botswana, Vanuatu, Ghana, Guyana, Guam, Iran, Iraq, Cambodia, Crimea, Laos, Libya, Mali, Mauritania, Mauritius, Mongolia, Myanmar, Nicaragua, Panama, Pakistan, North Korea, Northern Mariana Islands, Somalia, Sudan, South Sudan , Syria, Jamaica, Yemen, Uganda, Zimbabwe, Ukraine and the United States.
3. DOCUMENTS REQUIREMENTS
In order to use WME purses for business needs, sole traders will be required to submit scanned copies of the following documents:
- Valid national passport or other ID document
- Proof of Residential Address, e.g. bank statement or utility bill, no older than 3 months
In order to use WME purses, legal entities will be required to submit scanned copies of the following documents:
- Certificate of Incorporation
- Memorandum and Articles of Association (alternatively, Company Bylaws/Statutes)
- Company Ownership Documents (i.e. documents confirming the ownership structure of the company, up to ultimate
beneficiaries (UBO’s) with a share in the company of 25% or higher)
- Certificate of Directors (document(s) with the names of all natural persons who exercise managerial authority over the
- Power Of Attorney (confirmation of the authority of the account signatory, if the signatory is not a company director)
- Passport/ID of the account signatory- Proof of Residential Address of the account signatory (no older than 3 months,
e.g. bank statement or utility bill)
- Proof of Company Physical Address (address where the main offices of the company are located, for example bank
statement or a delivery note of office equipment, no older than 3 months)
- Bank Account Confirmation (company trading account statement, or a letter from the bank confirming the company bank
account, no older than 3 months)
Subject to review, we reserve the right to request additional customer due diligence documentation such as, but not limited to:
- Passport/ID of all UBO’s (natural persons with a share in the company of 25% or higher)
- Licenses (evidence of any license your company has/must have if it operates within a regulated market)
For citizens of the Russian Federation, Ukraine and Belarus, a page of a national passport with residential address will be
accepted as a confirmation of residential address, mobile telephone bills will not be accepted.
Scanned copies of the required documents should be uploaded to the WebMoney Passport website.
If the documents have been uploaded to the WebMoney Passport website, it will be required to check their current validity
and, if necessary, upload the updated version of the documents.
4. REGISTRATION IN MEGASTOCK
- Sole traders must be registered in Megastock.
In case a WME purse holder does not satisfy the above requirements, his/her WME user rights may be restricted (purses may be blocked) for both incoming and outgoing transactions.
Date of requirement entry into force – 15.07.2015