GIB

Compliance

AML STATEMENT

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USA PATRIOT ACT CERTIFICATION

The USA PATRIOT Act and final rules issued by the U.S. Department of the Treasury require Covered Financial Institutions to obtain certain information from Foreign Banks for which they maintain correspondent accounts in the United States. Gulf International Bank B.S.C. and Gulf International Bank (UK) Limited have updated such a Certification for use by any Covered Financial Institution that requires it.



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FOREIGN ACCOUNT TAX COMPLIANCE ACT (“FATCA”)

The Foreign Account Tax Compliance Act (“FATCA”) is a United States of America (“US”) law that was signed on March 18, 2010. The FATCA became effective from 30 June 2014 and is aimed at foreign financial institutions (“FFIs”) and other financial intermediaries to prevent tax evasion by US citizens and residents through use of offshore accounts. FATCA was introduced by the United States Department of Treasury (Treasury) and the US Internal Revenue Service (“IRS”), to encourage better tax compliance by preventing US Persons from using Banks and other Financial Organizations to avoid US taxation on their income and assets.  FATCA rules are wide-ranging and require global financial institutions, investment entities, as well as national banks and other financial organizations to report details on their US clients either directly to the IRS or through their local regulators.

 

IMPACT TO GIB AND OUR CUSTOMERS

FATCA could impact any customer of GIB, regardless of nationality or citizenship. This is because banks and other financial institutions are required to review the information they hold on their customers to ascertain their customers’ tax residency. The impact on customers shall also depend on factors such as:

 

•    the type of account you hold with the Bank,
•    the type of policy agreement you have with the Bank,
•    the countries you trade in.

 

On an annual basis, banks and other financial organisations will be required to report information on financial accounts held directly or indirectly by US persons.

 

We are committed to being fully FATCA compliant in all countries where we operate. We will therefore be reviewing our existing customer base to confirm the FATCA statuses of our customers and where necessary we may have to contact our customers for further information and documentation.

 

If we do not have required information on file, we may contact you to provide additional documentation to certify your tax status. Please note that you may receive more than one request for information if you have multiple relationships with different members of the GIB Group. It is important that you respond to all requests for tax information even if you believe you have already supplied the requested information. 

 

If you have any further queries regarding FATCA/ local legislation and your tax position, please contact a tax advisor, as GIB is unable to provide tax advice.
 

Frequently asked questions about FATCA Download PDF
IRS FATCA View link
List of IGA covered countries View link
Global Intermediary Identification Numbers (GIINs) View link
Form W-8BEN View link
Instructions for Form W-8BEN View link
Form W-8BEN-E View link
Instructions for Form W-8BEN-E View link
Form W-9 View link
Instructions for Form W-9 View link
Form W-8EXP View link
Instructions for Form W-8EXP View link
Other IRS Forms View link
*When you click on these links, you will be directed to a non-GIB website. www.gib.com has no control over the linked website and is not liable for your use of it.
GIB’s Global Intermediary Identification Numbers (GIINs) Download PDF
W-8BEN-E - GIB (UK) Ltd. Download PDF
W-8BEN-E- Gulf International Bank B.S.C. (KSA branch) Download PDF
W-8BEN-E- Gulf International Bank B.S.C. (London branch) Download PDF
GIB B.S.C. (UAE branch) - W-8BEN-E Download PDF
GIB Capital LLC - W-8BEN-E Download PDF
GIB Markets Ltd. - W-8BEN-E Download PDF
W-8BEN-E- Gulf International Bank B.S.C. (Bahrain) Download PDF
GIB B.S.C. (BAH branch) - W-8BEN-E Download PDF


Legal Entity Identifier (LEI)

Legal Name: Gulf International Bank B.S.C

LEI: 558600JW2XPMLG97TV14