ID Requirements
The Money Laundering Regulations came into force on the 1st March 2008 and place us (as well as any other person, firm or company who provides “by way of business…services in relation to the readymade formation, formation, operation or management of a company or a trust…”) under a lot more strict obligations concerning how and with whom we conduct our business. The practical effects are as follows:-
- Provision of any or all Company Director, Secretary, shareholder to the aforementioned service (ie readymade company).
We will require the details and documentation listed below
1 x Picture ID
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Passport
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Drivers Licence
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EU Identity Card
1 x Proof of Address
We honestly do not wish to create more paperwork and bureaucracy than is absolutely necessary as it generates more internal costs to us than we would like. These Regulations, though, are very clear, very strict and impose very heavy penalties upon any person deemed to be non-compliant, stretching quickly to custodial sentencing.
However stringent these requirements are now, though, we must make you aware that they are almost certainly going to evolve and change (and may do so in the not too distant future!), and become even more onerous as time goes by. Certainly, it is highly unlikely that we will ever be able to reduce the amount of paperwork we now find that we have to prepare
We are therefore bound by law to enforce such regulation thus following purchase we must hold any structural changes and company documentation until the appropriate ID has been received, this can be via, email, fax or land mail.
We sincerely apologise for any inconvenience that these Regulations and our approach to their implementation may cause you but hope that you will continue to work with us to ensure compliance and a continuing relationship.
We trust that all is, thus far, satisfactory and look forward to completing business you again in due course or with any queries or comments you may have. |