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Anti-Money Laundering

Proving Your Identity and Ownership of a Property

The primary UK legislation covering anti-money laundering and counter-financing of terrorism includes The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, Proceeds of Crime Act 2002, Terrorism Act 2000, Criminal Finances Act 2017, Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019, ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 and Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019), Sanctions and Anti Money Laundering Act (2018), Anti-terrorism, Crime and Security Act 2001, The Counter Terrorism Act 2008, Schedule 7 and all subsequent amendments.

As with all Estate Agents, Balfours LLP is subject to these regulations. This means that we must obtain and hold identification and proof of address for both purchaser and vendor. Additionally, we are required to establish whether there are any beneficial owners on whose behalf the transaction or activity is taking place, hence, we would request you to identify anyone who you would consider to be a beneficial owner. The source of funds will also be requested. Without this information, we will be unable to proceed with any work on your behalf.

We require a copy of an identity document, as listed below, to verify through our AML platform. Subject to your individual circumstances, we may liaise with you for further documentation.

Photo Identification

One form of in date photo identification required:

  • Passport
  • Driving Licence
  • Firearms Certificate
  • National Identity Card

Probate

We will require the following:

  • Confirmation in writing from the solicitor if they have given the instruction to market the property
  • Grant of Probate (if a will was left) or Letter of Administration (if no will left)
  • Photo ID, from the list above, for the representatives (either executors or administrators)

UK Company

We will require the following:

  • Certificate of Incorporation
  • Photo ID, from the list above, for all individuals or entities with 25% or more of the shares or voting rights in the company

Offshore Company

We will require the following:

  • Certificate of Incorporation
  • Latest Annual Return or Share Certificate/s with details of company officers and beneficial owner/s
  • If the shares are owned by another company, repeat steps above for the holding company
  • Photo ID, from the list above, for all individuals or entities with 25% or more of the shares or voting rights in the company

Trust

If you are acting as a Representative of a Trust we require the following:

  • Trust Deed
  • Confirmation that the Trust has been registered
  • List of Trustees
  • List of Beneficiaries
  • Photo ID, from the list above, for all individuals with a vested interest in 25% or more of the capital and/or those who exercise control over the Trust