Rain is committed to following the best practices in the industry. As a licensed and regulated entity, we are required to request Enhanced Due Diligence (EDD) documents from our customers, such as a proof of income or wealth. This practice allows us to ensure the safety of our platform and customer information.
As you sign up for an account with us, you will be requested to provide documents to show the source of your income or wealth. This guide is to help you with submitting these documents.
Source of Income
A Source of Income document is an official document that shows the origin of your income. It must include your name, date, and issuing authority/company.
The accepted Source of Income documents that you can submit can be:
Salary:
Payslip (not older than 3 months)
Salary Certificate (not older than 3 months)
Employment Contract
Bank statement showing the payment or income
Business income/profits:
Business tax return
Tax statement for self-employed
Financial statement and ownership document of the business
Business account bank statement (not older than 3 months) and ownership document
Pension:
Pension details
Fund Statement (if available)
Bank statement showing the payment
Government benefits:
Details of the benefits
Bank statement showing the payment
Income from investments (such as, shares, bonds, sukuk, etc.):
Payment receipts with buyer and seller details
Bank statement showing the payment
Income from sale of real estate or property:
Contract of sale
Land registry/certificate of title (or equivalent)
Letter from a real estate agent or lawyer confirming the sale
Bank statement showing the payment
Income from renting/leasing:
Rental agreement
Bank statement showing the payment
Source of Wealth
A source of wealth document or set of documents are meant to show the origin of your entire wealth, including all assets.
Accepted Source of Wealth documents can be:
Family/generational wealth and personal background:
Inheritance
Gifts from family (including spouse/partner)
Divorce or lawsuit settlements
Pension or retirement benefit pay-outs
Lottery wins
Real estate owned
Artwork
Income, revenue, and business activities:
Business ownership
Employment income
Sales of products or business properties
Bonuses or commissions
Retirement scheme payouts
Salary
Investment activities:
Acquisitions
Sale of investments (e.g., securities, royalties, patents).
When you are requested to submit any of these documents, make sure that all documents provided are recent and clearly show the required personal information such as your name, date and the issuing authority or company name.
If you would like some assistance with this step, feel free to get int touch with us through our support page and we will get back to you within a few hours.