Yes, you will need a TIN (Tax Identification Number) if you want to apply for a COL Financial account.
COL Financial is a stock broker that allows you to buy/sell stocks online, via the COL Financial website. In order to log into that website, you'll need to first apply for a COL Financial account. After they approve your application, you'll be given instructions on how to add at least P5,000 to your COL Financial account.
Some people from outside the Philippines are asking: "Do I really need to have a T.I.N. in order to get a COL Financial account?"
Yes, you do. Here's what COL Financial says...
COL Financial needs your Philippine Tax Identification Number (TIN) in compliance with BIR’s Revenue Regulations No. 1 Series of 2014 (RR 1-2014). This is required for all investors at least 18 years of age, regardless of citizenship or employment status. All COL Financial applicants must have a Philippine Tax Identification Number (TIN) before their COL application can be approved.
COL Financial has consulted with the Bureau of Internal Revenue (BIR) on how to retrieve or apply for a TIN. Below are the following guidelines:
TIN RETRIEVAL
Contact the BIR to retrieve your TINBIR Contact Center: 981-8888
Email: contact_us@cctr.bir.gov.phThey will ask security questions before release your TIN.
TIN APPLICATION
For employed and self-employed individuals kindly refer to this link for your TIN application:
For students, homemakers, retirees, foreign citizens and Overseas Filipino Workers (OFWs) kindly refer to the forms and complete requirements on this link:
https://www.colfinancial.com/ape/Final2/home/pdfs/TIN%20Application%20Procedure.pdf
COL Financial has no restrictions on nationality for opening an account. Applicants for a COL Trading Account must be at least 18 years old upon application as required by local regulators. If the applicant is a minor, a parent or legal guardian who is of legal age may open an In Trust For (ITF) account for the child.
To open an ITF (In Trust For) account, a set of application forms must be filled up. Please note that one parent will be the primary account holder, and one child (below 18 years of age) will be the secondary.
Please note, that a copy FATCA disclosure form will need to be accomplished for both the parent and the child. Kindly have the primary account holder sign on behalf of the child.
Additional requirements would be the valid Philippine Government issued ID for the parent, then a clear copy of the birth certificate of the child.
