LEGAL DOCUMENTATION
1. Purpose of the policy
This Know Your Customer (KYC) Policy (hereinafter the “Policy”) explains how VEO Markets Ltd., a company incorporated in St. Lucia (hereinafter the “Company”) verifies the identity of its clients and ensures that our services are not used for money laundering, terrorist financing, fraud, or other unlawful activities.
This Policy applies to all individuals, corporate and institutional clients globally.
Although the Company operates as an International Business Company (IBC) in Saint Lucia, where FX/CFD brokerage does not require a license, we voluntarily adhere to, The Anti- Money Laundering Act (Saint Lucia), FATF 40 Recommendations, EU AML Directives (AMLD4–AMLD6), common AML/KYC standards in global common AML norms.
Our objective is to meet global standards required by banking partners, payment providers, institutional clients, and regulators worldwide.
2. Our KYC commitment
We are fully committed to, verifying the identity of all our clients, understanding the nature and purpose of each account, assessing the risk profile of clients, preventing the use of our platform for illegal or abusive purposes, and keeping client information safe and confidential
3. Who must complete KYC
KYC checks are required for all:
• Individuals, Corporate or Institutional clients
• Authorized representatives / signatories:
• Directors/Secretary
• Beneficial owners (UBOs)
No account may be opened until KYC verification is completed.
4. Documents we collect
4.1 Individuals
Common acceptable documents include:
• Government issued ID (passport, national ID card)
• Proof of residential address, such as: Utility bill (water, electricity, internet), Bank
statement, Government issued letter, or Tax statement.
• Selfie or biometric verification (where supported)
• Personal information (name, date of birth, nationality)
Some countries may require additional verification depending on local standards.
4.1 Corporate clients
Common acceptable documents include:
• Certificate of Incorporation
• Articles / Memorandum of Association
• List of Directors and Shareholders
• Proof of business or operating address
• Identification of all Beneficial Owners (UBOs) and the Authorized Signatories
• Company tax information (where applicable)
• Ownership Structure
Depending on risk, we may request additional documents.
5. Beneficial ownership requirements
We must identify the natural person(s) who ultimately own or control the company.
Beneficial owners must provide a valid government issued ID and Proof of address.
Additional information if designated as high risk will be requested.
Opaque structures, nominee arrangements, or unverifiable ownership may result in
rejection.
6. Prohibited clients
We do not onboard:
• Individuals under eighteen (18) years of age
• Resident(s) or citizens of sanctioned countries
• Person(s) or entities listed on sanctions lists
• Shell banks or anonymous entities
• Clients who refuse to provide KYC documents
• Clients whose documents cannot be verified
7. Data protection & privacy
We protect client data using global best practices. This includes but is not limited to,
encryption of stored documents, restricted internal access, compliance with applicable
privacy regulations, retention of KYC documents for at least five (5) years or longer where
required by regulators.
We do not share client data except when required by law.
8. Company rights and client obligations
The Company reserves the right to request additional documentation at any time, reject an application for any reason it deems fit, suspend or terminate accounts if KYC obligations are not met and/or block transactions until verification is complete.
Clients must provide accurate, verifiable information and promptly update any changes.
9. Policy review
This policy is reviewed once per year or earlier if required by Regulatory changes, Market developments and/or Internal compliance updates
VEO Markets Ltd is committed to maintaining the highest global KYC standards for all its clients worldwide.
