Key takeaways
- Certified ID for every 25%+ beneficial owner, not just the signatory.
- Bank statements must show the account name in full.
- Structure charts prevent the second and third rounds of questions.
Underwriting is rarely the bottleneck. Waiting for a director's passport scan usually is. Assemble this pack once and every future application gets faster.
The pack
- Certificate of incorporation and current filed accounts.
- Photo ID and a proof of address dated within three months for every director and every 25%+ beneficial owner.
- Three months of business bank statements showing the full account name.
- A group structure chart where any corporate shareholder exists.
- Recent processing statements or pay run summaries for the service being quoted.
Common rejections
Cropped statements, ID for the signatory only, and structure charts that stop at the first holding company. Each one costs a week. Sending the complete pack up front routinely takes approval from three weeks to five working days.
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