{COL Financial Tutorial} Who Can Open An Account

This is the first post in The Complete Guide to COL Financial. To read all posts in order, start with Who Can Open An Account then continue reading the rest of the series on this page.

Who Can Open An Account:

Any individual(s) of legal age of any nationality or legitimate corporation may apply for a COL Financial account. There are no restrictions on place of residence. This person may be a Filipino or foreigner, located here in the country or abroad.

Note: There are some stocks are only available to those officially trading in the Philippine Stock Exchange. Also, there are certain stocks that foreigners wouldn’t be able to purchase.

Note: There is also a COL Account for Minors (below 18 years old) which is called an In-Trust-For Account (ITF). This is intended for parents who want their minor child to be the beneficiary of the account.

What Documents (and other things) Do I Need to Prepare:

You will need to prepare the following:

COL Financial Application Forms
Taxpayer Identification Number (TIN) (will be needed while filling up the application forms)
Minimum Initial Investment of Php 5,000
And Some Additional Documents

You need to fill up the needed Application Forms. It is the same for all applicants. The forms to be submitted are the Customer Account Information Form and the Foreign Account Tax Compliance Act (FATCA) Form. (Note: Joint accounts require 2 FATCA forms, 1 per account holder.) Included in the packet is the Online Securities Trading Agreement (OSTA) which should be read and kept by the account holder/s.

Along with the filled up application forms, you need to prepare additional documents required for resident and non-resident foreign citizens. See more below:

–

For FILIPINO CITIZENS

– Photocopy of one (1) valid government issued ID (Photo and signature must be clear)

Examples: Passport, Philippine Driver’s License, SSS ID (1999 credit card type only), GSIS ecard plus, Professional Regulation Commision (PRC) ID, Comelec Voter’s ID

– Billing Statement (Recent, no later than 3 months past)

Examples: Utility Bill, Credit Card Bill, Bank Statement

–

For RESIDENT FOREIGN CITIZENS

– Photocopy of one (1) valid government issued ID (Photo and signature must be clear)

– Alien Certificate of Registration (ACR) or Work Permit from DOLE

– Billing Statement (Recent, no later than 3 months past)

–

For NON-RESIDENT FOREIGN CITIZENS

– Authenticated photocopy of one (1) valid passport. (Photo and signature must be clear)

– Proof of Income

– Billing Statement (Recent, no later than 3 months past)

For foreign citizens, please contact COL Financial’s Customer Support at helpdesk@colfinancial.com or call their hotline at +632 6-515-888 for details of requirements needed.

–

For IN-TRUST-FOR (ITF) ACCOUNTS

– Photocopy of one (1) valid government issued ID of the PARENT (Photo and signature must be clear)

– Birth Certificate of the minor applicant

– Duly-signed ITF Supplementary Agreement Click here to download>>>

– Billing Statement (Recent, no later than 3 months past)

–

{Go to the Next Post: Choose Your Account Type}