Understanding Source of Funds (SOF) and Source of Wealth (SOW)

Understanding Source of Funds (SOF) and Source of Wealth (SOW)

What is Source of Funds (SOF)?

Is the origin of a person’s money or financial assets, so we need to understand not only where funds came from but the activity that was involved in generating those funds-

Examples of SOF:
  1. Personal savings
  2. Pension releases
  3. Share sales and dividends
  4. Property sales
  5. Inheritances and gifts
  6. Compensation from legal rulings

What is Source of Wealth (SOW)?

 Refers to the means by which a person has acquired their entire body of wealth. The main question here to answer is why the client has the assets they do and how they came to accumulate them.

Examples of SOW:
  1. Inheritances
  2. Investments
  3. Business ownership interests
  4. Employment income (payslips, nómina, boleta de pago, recibo de haberes)
  5. Tax Returns**
What is the difference between SOF and SOW?
  1. SOF is about the origin of specific funds or financial assets.
  2. SOW is about the overall wealth and how it was accumulated.
Why does Nebeus need this information?
  1. To comply with financial regulations and ensure the legitimacy of the funds and assets.
What should I do if my document is older than 3 months?
  1. Provide a more recent document or contact customer support for further guidance.
Can I submit screenshots of online banking as proof of inheritance?
  1. No, we do not accept screenshots.
Documents that we can accept: 

Inheritance:
  1. Will
  2. Grant of probate
  3. Trust deed
  4. Bank statement showing the inheritance (must be an official bank statement, not a screenshot)

Pension:
  1. Pension statement
  2. Document from a pension or annuity fund showing the allocation
  3. Last 3 months of bank statements showing pension credits
  4. Any official document showing the necessary information

Investments:
  1. Latest tax return document from an official authority
  2. Official statement issued by the investment firm or trading platform
  3. Investment certificate
  4. Investment/portfolio account statement
  5. Employee stock plan exercise confirmation

Rent:
  1. Rental agreement signed within the last 3 months where you are the landlord
  2. Recent bank statement from the last 3 months showing rental income as a landlord
  3. Latest tax return document from an official authority reflecting rental income
Freelancer:
  1. Latest tax return document from an official authority
  2. Statement/certificate of earnings from a freelancing platform

Independent Contractor:
  1. Latest tax return document from an official authority
  2. Service agreement contract signed within the last 12 months, showing the pay period and total amount

Salary:
  1. Salary payments
  2. Most recent payslips covering 3 months
  3. Latest tax return validated by an official authority
  4. Employment contract or proof of employment
If you are unable to provide the required documents, please contact Nebeus support. Our team will assist you in exploring alternative options or finding suitable solutions to meet the necessary requirements


Notes
** We accept the following tax return documents based on the respective countries:
  1. Spain : IRPF
  2. Argentina: Impuesto a las Ganancias.
  3. México: Impuesto Sobre la Renta (ISR).    personas físicas como a las empresas.
  4. Chile: Impuesto a la Renta.
  5. United Kingdom: Income Tax
  6.  France: Impôt sur le revenu (IR)
  7. Germany: Einkommensteuer.
  8. Brazil: Imposto de Renda
  9.  Italy : Imposta sul reddito delle persone fisiche (IRPEF).
  10.  Bolivia:
    - Impuesto a las Transacciones (IT) - Formulario 400 
          - IUE - Contribuyentes Obligados a llevar Registros Contables
           Formulario 500
  1. Poland: PIT (personal income tax)

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