Source of Wealth

Purpose of the Source of Wealth

The Source of Wealth Declaration gives a description of the customer’s assets and of the economic activity which has generated the customer’s assets i.e. the source of wealth.

Instructions to fill out the Source of Wealth Form

This instruction document covers the SOW Declaration form. In order to comply with applicable laws and regulations, we kindly request you, the customer, or a nominated person acting on behalf of the customer, to complete the Source of Wealth Declaration.

Step 1.

Provide us with your name and account number, then proceed by completing the table as requested on the Source of Wealth Declaration form.

Step 2.

Kindly provide us with information on all assets, including their value, and in addition please indicate the source(s) with which you have acquired these assets.

Step 3.

The following should be taken into consideration when completing the Source of Wealth Declaration form:

Stocks, bonds, vehicles and real estate should be recorded at its current estimated fair market value.
Investments in non-publicly traded companies should be recorded at book value
Jewelry, household furniture, or other personal items should not be included as assets.

Step 4.

If an asset was acquired with a loan, this should also be indicated on the Source of Wealth Declaration form. This should be done in the source of wealth section in the table, by selecting the ‘other (specify)’ box.

Step 5.

Finally, you are kindly requested to sign the Source of Wealth Declaration and provide us with additional
information and supporting documentation as indicated for each source.

Should you have any questions, our staff members will be pleased to assist you further in this process.

Below we have included a practical example on how a Source of Wealth Declaration form should be completed

	Information to be provided together with Source of Wealth declaration form	Supported documentation to be provided together with Source of Wealth declaration form
Inheritance	Name of deceased Date of death Relationship to customer Date received Total amount	Signed letter from notary or A certified copy of the will
Business profits	Name and address of company Nature of company Amount of annual profit	Copy of latest financial statement
Others (specify)	Nature of income: Loan Date income received: 10 January 2015 Total amount received ANG 5.000	Supporting documents: Loan Agreement

Download form

SOURCE OF WEALTH FORM
Applicable to: Individuals

Download, fill-in, sign, scan and deliver to the respective MCB Branch.

DOWNLOAD PDF