Principals

Who owns and controls a company sub-client: UBOs, directors, secretaries and trustees

For every company sub-client we also want to know who owns and controls it. These people are the sub-client's principals: its ultimate beneficial owners, beneficial owners, directors, company secretaries and trustees. Our banking partners require this information for every company that holds a virtual account, and we pass it on to them when the sub-client's virtual accounts are issued.

Send them in the principals list of createSubClient. Each entry describes one person:

• roles - every role the person holds. Required, one or more of the values below

• firstName and lastName - required. Latin characters only, the same rules as for the contact person's name

• middleName - optional

• dob - date of birth in YYYY-MM-DD format, optional

One person can hold several roles:

• ULTIMATE_BENEFICIAL_OWNER - owns or controls at least 25% of the organisation, or over 10% where it is registered, licensed or regulated in a high-risk jurisdiction.

• BENEFICIAL_OWNER - owns a share below the ULTIMATE_BENEFICIAL_OWNER threshold.

• DIRECTOR - a member of the board or equivalent governing body.

• SECRETARY - the company secretary.

• TRUSTEE - holds the organisation's assets on trust for its beneficiaries.

• OTHER - significant control or influence that none of the other roles describes.

Principals are accepted for company sub-clients only: sending them for an individual is rejected with INVALID_DATA. Do not send an id when creating a sub-client - we assign one to every principal and return it in the response, so that you can edit that person later. The data quality requirements apply to principals as well: real people, real names, real dates of birth.

Principals are optional for now. They will become mandatory for every company sub-client - we will announce the date in advance in the API change log. Please start sending them with every new company sub-client and add them to your existing ones via updateSubClient. The same details can be recorded in Flash Connect.

You can read them back at any time via the principals field of the SubClient type (id, roles, firstName, middleName, lastName, dob). It is an empty list for individual sub-clients.

Company senders carry the same principals - see Sender principals.

Creating a sub-client with principals

JavaScript

const bodyJSON = {
  variables: { 
    input: {
      legalName: "Chineese Tradings", 
      businessNumber: "330782000329701",
      orgType: "COMPANY", 
      firstName: "John", 
      lastName: "Smith", 
      email: "[e-mail]",
      mobile: "[phone]",
      dob: "1979-05-12",
      address: {
        building: "25",
        street: "Xihu Road, Yuexiu District",
        suburb: "Guangzhou City",
        state: "Guangdong Province",
        postcode: "510030",
        country: "CN",
      },
      idDoc: {
        type: "passport",
        docNumber: "FF1948394",
        issuer: "Australian Passport Office (APO)",
        issueDate: "2000-01-01",
        expiryDate: "2045-01-01",
        country: "AU",
      },
      principals: [
        {
          firstName: "Wei",
          lastName: "Zhang",
          dob: "1975-03-02",
          roles: ["DIRECTOR", "ULTIMATE_BENEFICIAL_OWNER"],
        },
        {
          firstName: "Mei",
          middleName: "Ling",
          lastName: "Lin",
          roles: ["BENEFICIAL_OWNER"],
        },
      ],
      externalId: "991188227733",
    },
  },
  query: `
mutation ($input: CreateSubClientInput!) {
  createSubClient(input: $input) {
    success code message
    subClient {
      id legalName businessNumber fullName clientType orgType status
      primaryContact {
        firstName lastName email mobile dob
      }
      address {
        country
      }
      principals {
        id roles firstName middleName lastName dob
      }
      bsb accountNo externalId
    }
  }
}`,
};

GraphQL Query

mutation($input: CreateSubClientInput!) {
  createSubClient(input: $input) {
    success
    code
    message
    subClient {
      id
      legalName
      businessNumber
      fullName
      clientType
      orgType
      status
      primaryContact {
        firstName
        lastName
        email
        mobile
        dob
      }
      address {
        country
      }
      principals {
        id
        roles
        firstName
        middleName
        lastName
        dob
      }
      bsb
      accountNo
      externalId
      # more properties available, see API schema
    }
  }
}

Variables

{ 
  "input": {
    "legalName": "Chineese Tradings",
    "businessNumber": "330782000329701",
    "orgType": "COMPANY",
    "firstName": "John",
    "lastName": "Smith",
    "email": "[e-mail]",
    "mobile": "[phone]",
    "dob": "1979-05-12",
    "address": {
      "building": "25",
      "street": "Xihu Road, Yuexiu District",
      "suburb": "Guangzhou City",
      "state": "Guangdong Province",
      "postcode": "510030",
      "country": "CN"
    },
    "idDoc": {
      "type": "passport",
      "docNumber": "FF1948394",
      "issuer": "Australian Passport Office (APO)",
      "issueDate": "2000-01-01",
      "expiryDate": "2045-01-01",
      "country": "AU"     
    },
    "principals": [
      {
        "firstName": "Wei",
        "lastName": "Zhang",
        "dob": "1975-03-02",
        "roles": ["DIRECTOR", "ULTIMATE_BENEFICIAL_OWNER"]
      },
      {
        "firstName": "Mei",
        "middleName": "Ling",
        "lastName": "Lin",
        "roles": ["BENEFICIAL_OWNER"]
      }
    ],
    "externalId": "991188227733"
  }
}

Response

{
  "data": {
    "createSubClient": {
      "success": true,
      "code": "SUBCLIENT_CREATED",
      "message": "Sub-client was successfully created",
      "subClient": {
        "id": "606d28675a2d931bc925fec2",
        "legalName": "Chineese Tradings",
        "businessNumber": "330782000329701",
        "fullName": "John Smith",
        "clientType": "C",
        "orgType": "COMPANY",
        "status": "ACTIVE",
        "primaryContact": {
          "firstName": "John",
          "lastName": "Smith",
          "email": "[e-mail]",
          "mobile": "[phone]",
          "dob": "1979-05-12"
        },
        "address": {
          "country": "CN"
        },
        "principals": [
          {
            "id": "68d4c3a1f2b9e07c4d1a5b01",
            "roles": ["DIRECTOR", "ULTIMATE_BENEFICIAL_OWNER"],
            "firstName": "Wei",
            "middleName": null,
            "lastName": "Zhang",
            "dob": "1975-03-02"
          },
          {
            "id": "68d4c3a1f2b9e07c4d1a5b02",
            "roles": ["BENEFICIAL_OWNER"],
            "firstName": "Mei",
            "middleName": "Ling",
            "lastName": "Lin",
            "dob": null
          }
        ],
        "bsb": "802919",
        "accountNo": "1066419",
        "externalId": "991188227733"
      }
    }
  }
}