These are legal requirements under Guyanese law. No insurance coverage can be placed until AML/CFT due diligence is complete. Here is exactly what is required, why it exists, and what each document means.
Anti-Money Laundering (AML) refers to the laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. Counter-Financing of Terrorism (CFT) refers to efforts to prevent the funding of terrorist activities.
In Guyana, AML/CFT legislation requires that all insurance companies and brokers verify the identity and legitimacy of every client before placing coverage. This is not a bureaucratic formality — it is a legal obligation under the Anti-Money Laundering and Countering the Financing of Terrorism Act of Guyana.
The Financial Intelligence Unit (FIU) of Guyana oversees compliance. Insurance companies that fail to conduct proper due diligence face regulatory sanctions. This means that no matter how urgently coverage is needed, it legally cannot be placed until all required documentation has been received and verified.
Required for: Directors, Beneficial Owners, Trustees (where applicable), and all Shareholders holding more than 10% of paid-up share capital.
Acceptable Documents (one required per person):
For foreign companies: international passports are accepted. Certified copies required.
A utility bill issued within the last three (3) months. Must be in the name of the individual or entity being verified.
Accepted Utility Providers:
Must be dated within 3 months of application date.
Certified copy of the entity's registration documentation as applicable to its legal structure.
Which Document Applies:
A copy of the company's Tax Identification Certificate (TIC) issued by the Guyana Revenue Authority (GRA). This confirms the entity's registered tax status in Guyana.
How to Obtain:
We can advise on the GRA registration process as part of our New Business setup guidance.
Completion and signing of the Customer Verification Form (CVF) as prescribed under AML/CFT regulations. Must be signed by an authorised representative.
What it Covers:
We provide the form and guide clients through completion at no charge.
Under Guyana's Anti-Money Laundering and Countering the Financing of Terrorism Act, all insurance companies and brokers are legally required to verify the identity of every client before placing coverage. Insurance products can potentially be misused to launder money — for example, by over-insuring assets or manufacturing false claims. These requirements protect the integrity of the financial system and are non-negotiable.
We can begin the quoting process and market placement while documents are being gathered. However, no policy can be formally bound or coverage confirmed until all five required documents have been received and verified. We advise clients to start document collection immediately and in parallel with the coverage discussion.
Yes. Certified copies of international documents are generally accepted. Passports from any jurisdiction are acceptable for identity verification. For proof of address, international utility bills or bank statements may be accepted with prior approval. Contact us to confirm what is acceptable for your specific situation before submitting.
A Beneficial Owner is any individual who ultimately owns or controls the entity — even if they do not appear as a director or registered shareholder. Under AML/CFT regulations, anyone who holds more than 10% of paid-up share capital must be identified. This is a global standard designed to prevent anonymous ownership structures from being used to launder money.
A Politically Exposed Person is someone who holds or has held a prominent public position — such as a government minister, senior official, or their close family members. PEPs are subject to enhanced due diligence under AML/CFT regulations. Being a PEP does not automatically prevent coverage, but it triggers additional verification steps. We handle this sensitively and confidentially.
Once all five required documents are received and complete, the verification process typically takes one to two business days. The most common cause of delay is incomplete documentation — particularly missing documents for beneficial owners or shareholders. We provide a clear checklist upfront so nothing is missed.
Yes. All AML/CFT documentation is handled under strict confidentiality. Information is shared only with the insurer placing the coverage and, where legally required, with the Financial Intelligence Unit (FIU) of Guyana. We do not share client information with any other third party. Our full Privacy Policy applies to all documentation submitted.
Contact us and we will send you the complete documentation checklist and Customer Verification Form immediately.