What onboarding information is required for the government-owned enterprise?

Published on Oct 13, 2023Updated on Jan 30, 20252 min read36

What's a government-owned enterprise?

Government-owned enterprises are government agencies, ministries, companies, or funds with 50% or greater national or local government ownership. These entities are typically created to engage in commercial activities on behalf of the government.

Who are the key persons for a government-owned enterprise?

  • Corporate officers: Persons with significant responsibility to control, manage, or direct the government-owned enterprise, including executive officers or senior managers (for example, CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer), or any other persons who regularly perform similar functions.

  • Directors: Persons elected or appointed to serve on the board of directors of the government-owned enterprise. These persons govern and oversee the government-owned enterprise and are responsible for its high-level strategy, operations, and accountability.

  • Ultimate beneficial owners: Persons who ultimately own and/or who exercise ultimate control over the government-owned enterprise. “Ultimately owns” and “ultimate effective control” refer to situations in which ownership and control are exercised through a chain of ownership or by means of control other than direct control.

  • Authorized users: Persons who have access to and can operate your institution’s OKX account.

What'll a government-owned enterprise need to consider for the onboarding process?

  • Identify all key parties

    • Identify all parties involved in the government-owned enterprise, including the corporate officers, directors, ultimate beneficial owners, and any authorized users.

  • Provide organizational documentation

    • Provide organizational documentation that regulates and binds the government-owned enterprise and establishes its control and management structure.

  • Provide identifying information

    • Provide identifying information for the government-owned enterprise, such as your institution’s legal full name, registration address, principal place of business, institution type, and industry, amongst other pertinent and verifiable data.

  • Provide identification documentation

    • Provide valid proof of identity (PoI) and proof of address (PoA) documents that verify the existence and establishment of the government-owned enterprise, as well as the identity of each key person involved.

Learn more about the types of institutions that are supported by us here.

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