Due diligence is a legally mandatory step before Vepapu can officially begin working with you on your requirements. This process ensures compliance with global regulatory frameworks, allowing uninterrupted support for your business throughout its lifetime.
As part of this process, we determine whether you:
- Fall under our Non-Eligible Countries list.
- Operate in a Non-Eligible Business Industry.
- Meet our internal risk assessment criteria for long-term business compliance.
We require specific information about the members of your Cayman company, including any operational companies (if applicable). This includes details about:
- The business structure of your Cayman company and any associated operational companies.
- Members of corporate bodies in the company's ownership chain, ensuring clarity about the Ultimate Beneficial Owners (UBOs).
- Financial and operational details to assess the legitimacy and compliance of the business.
While we cannot list all possible due diligence requests, the following non-exhaustive list provides an idea of the information we may ask for:
General Business Information:
- What does your business do?
- What are your products and/or services?
- From where will the operations of your business be conducted?
- Do you have a website for your business?
Business Stakeholders:
- Where are your customers, suppliers, and other key stakeholders located?
- Who are your customers, suppliers, and other key stakeholders?
Corporate Governance & Experience:
- What is the experience of the director(s) in the industry in which your company operates?
- What is your business model?
- What are the revenue estimates in the initial years?
Holding Company Details:
- What kind of assets will it hold?
- Where are these assets located?
- Where is/are your operational company(ies) located?
- What is the value of its assets?
- What are the business operations, products/services, and operating regions of all operational companies?
Vepapu’s due diligence procedures comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws set by regional and international regulatory bodies, including the Office of Financial Sanctions Implementation (UK), the Office of Foreign Assets Control (US), the European Union (EU), and the Organization for Economic Cooperation and Development (OECD).
These compliance measures ensure that all businesses meet international transparency and financial security requirements.
Please note that even if all requested documents and information are provided, Vepapu may still decline to offer services if the outcome of our internal due diligence procedures does not meet compliance standards. If a request is turned down, we are unable to share the specific reasons due to regulatory and risk-framework confidentiality requirements.