REAL ESTATE INVESTMENT 2021
Documents to be submitted :
• Copy of the passport bio-data page
• Bank statement or other document confirming the residential address of the Acquirer ( P . O . Box addresses not admitted ).
• A bank reference through an authenticated SWIFT message ( MT _ 199 ) or a duly signed reference from the buyer ’ s bank , confirming : - The duration of the business relationship - Satisfactory operation of its bank accounts
• Their curriculum vitae ( CV ) and sources of income
• In the event that the income is mainly from dividends , details of the underlying companies and audited accounts for the past three years
• A balance sheet of assets and liabilities
• Their monthly financial obligations
• Original or certified copies of income tax returns showing annual income and expenditure
• A bank reference ( confidential or status report ), in general terms , indicates the quality of the relationship and funds . The document must mention whether the reimbursement capacity is sufficient or whether the approval obtained from a reference agency for commercial credits is certified .
The documents mentioned must be duly authenticated by a bank , a financial institution or a notary , entrusted by the buyer .
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As a stakeholder in the banking sector , we are required to comply with the guidelines of the Central Bank , which is the regulatory body for the sector . Before opening a client account , we review all the documents that provide us with information on their identity as well as the ‘ Source of funds ’ and ‘ Source of wealth ’.
Jaysen Nundoosingh Corporate and International Banking , Absa Bank