Please describe. Type of income can be:
1. Active - company is generating revenue from business activities;
2. Passive - passive income is typically; dividends, interest, rent, royalties, payments from life insurance,
certain other insurance income, profits from the sale of assets that provide passive income, profits from commodity sales, foreign exchange earnings and profits from derivatives. Rent that derives from active work of employees, i.e. the entity has employees, is generally not seen as passive income.
Source of Wealth refers to the origin of the person’s entire body of wealth (i.e., total assets). This information will usually give an indication as to the volume of wealth the Customer would be expected to have, and a picture of how they acquired such wealth. Source of Wealth could be: income from salary, inheritance, gift/ donation, savings/ deposits, company profit/ dividends, sales (of property, shares), loan/ investments, etc.