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How is KYC information handled in the event of a client's death in the Dominican Republic?
In the event that a customer dies in the Dominican Republic, financial institutions must follow specific procedures to handle KYC information. This may involve notification of the death and related documentation, as well as the transfer of assets to legal beneficiaries. Confidentiality and privacy of customer information is maintained even after death
Can I use my expired Ecuadorian identity card as an identity document in internal procedures of the country?
No, an expired Ecuadorian identity card is not valid as an identity document in internal procedures of the country. It is necessary to renew it to have an updated and valid document.
What are the legal implications of an embargo in the case of joint debt in Colombia?
In cases of joint debt, where two or more people share responsibility for the debt, a garnishment can affect all debtors equally. Colombian law allows creditors to seek payment of the debt of any debtor, regardless of who the original holder of the debt is.
What is the online auction process for seized assets in the Dominican Republic?
The online auction of seized assets in the Dominican Republic is carried out through court-designated online platforms, allowing interested parties to bid and purchase seized assets electronically.
What are the categories of risks that are included in the risk lists in Panama?
Risk categories may include politically exposed persons (PEPs), sanctioned individuals, entities linked to terrorism and other risk categories identified by legislation.
What is the tax treatment of mortgage interest in the Dominican Republic?
In the Dominican Republic, mortgage interest may be subject to tax benefits for borrowers. Borrowers who have mortgages can deduct interest paid from their taxable income, reducing their tax burden. It is important for borrowers to know the rules and limits applicable to this deduction.
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