Open an Account

Account Opening Requirements

Generally, the minimum account size is $25,000 USD for standard brokerage accounts for individual residents of Bermuda, Cayman or Bahamas, or minimum $100,000 USD for residents of other qualified jurisdictions (which does not include the United States or Canada; see below), and for corporate or trust accounts. Also please note that we do not trade in cannabis-related securities, U.S. OTC penny-stocks or U.S. Pink Sheets-listed securities.

Account Opening Information

Before opening an account, we will require the following documents to be completed, as appropriate:

1. LOM Investment Account Agreement (will be provided by LOM once initial contact has been made)
2. For each signatory and beneficial owner: a notarized passport, bank reference and proof of residential address
3. CRS and FATCA Tax Residency certifications

Corporate Accounts Must Also Provide:

1. Certified Copy of Certificate of Incorporation (and Certificate of Good Standing if company is over one year old)
2. Corporate Resolution authorizing the opening of the account
3. Certificate of Incumbency listing officers and directors
4. Register of Members listing shareholders
5. KYC documents on signatories and beneficial owners
6. Tax forms: Form W-8BEN-E, Forms CRS-E and CRS-CP
7. Trust Accounts must also provide trust documentation
8. Institutional accounts should provide evidence of regulated status

All prospective customers are subject to due diligence before an account is approved, including being vetted in third-party due diligence databases and against sanctions lists.

Note: It is strongly recommended that qualified legal and tax professionals in the customer’s country of residence be consulted in advance of moving assets offshore.

Policy on US and Canadian Residents

• We can accept U.S. and Canadian citizens that are not resident in the U.S. or Canada
• We can accept corporate clients with U.S.-resident beneficiaries, provided no US resident is a signatory providing the investment instructions
• U.S. citizens and residents’ accounts are reportable to the IRS under U.S. FATCA regulations (see LOM tax exchange notice here.)
• Canadian residents (e.g. beneficial owners of certain companies or trusts) are reportable to Canada under CRS
• We do not accept individual/joint accounts for U.S. or Canadian residents, or entity accounts for U.S. or Canadian companies

LOM Financial (Bermuda) Limited, LOM Asset Management Limited, Global Custody & Clearing Limited, and LOM Financial Cayman are regulated and licensed to conduct Investment Business by the Bermuda Monetary Authority. LOM Financial (Bahamas) Limited is regulated and licensed by the Securities Commission of the Bahamas.