Client Identification
U bent hier: homeClient Identification
As a consequence of European legislation to combat money laundering and to prevent the financing of terrorism, the Prevention of Money Laundering and Terrorist Financing Act ("Act") has been enacted. The Act applies to the providing of services by civil law notaries, lawyers and tax advisers. On the basis of the Act we have to identify the client, prior to rendering our services. We also have a statutory obligation to disclose socalled unusual (financial) transactions with the Netherlands Financial Intelligence Unit. In such situations, we are not permitted to invoke our right of non-disclosure. Pursuant to the Act, reporting is mandatory and we are not permitted to inform the client about the report.
Failing to meet the obligations pursuant to the aforementioned Act is an economic offence for which our advisors and staff could be prosecuted.
If the client is a legal entity, the identity can be established on the basis of an excerpt from the trade register or by means of a deed executed by a civil law notary. If the client is a foreign legal entity, the identity can, for example, be established on the basis of an excerpt from the trade register of the country of origin or on the basis of in international business accepted documents, data or information which are acknowledged by law as a valid means of identification in the country of origin. Further, it is required to ask for the name and date of birth of the persons representing the company and to store these data.
For domestic and foreign legal entities, the ultimate beneficial owner must also be identified. The ultimate beneficial owner is considered to be the natural person who, directly or indirectly, owns more than 25% of, or who has otherwise control over, the client.
The identity of natural persons can, for example, be established on the basis of a valid passport. If the client is a non-resident and is considered to be a politically exposed person, additional investigations should be carried out.
As a consequence of European legislation to combat money laundering and to prevent the financing of terrorism, the Prevention of Money Laundering and Terrorist Financing Act ("Act") has been enacted. The Act applies to the providing of services by civil law notaries, lawyers and tax advisers. On the basis of the Act we have to identify the client, prior to rendering our services. We also have a statutory obligation to disclose socalled unusual (financial) transactions with the Netherlands Financial Intelligence Unit. In such situations, we are not permitted to invoke our right of non-disclosure. Pursuant to the Act, reporting is mandatory and we are not permitted to inform the client about the report.
Failing to meet the obligations pursuant to the aforementioned Act is an economic offence for which our advisors and staff could be prosecuted.
If the client is a legal entity, the identity can be established on the basis of an excerpt from the trade register or by means of a deed executed by a civil law notary. If the client is a foreign legal entity, the identity can, for example, be established on the basis of an excerpt from the trade register of the country of origin or on the basis of in international business accepted documents, data or information which are acknowledged by law as a valid means of identification in the country of origin. Further, it is required to ask for the name and date of birth of the persons representing the company and to store these data.
For domestic and foreign legal entities, the ultimate beneficial owner must also be identified. The ultimate beneficial owner is considered to be the natural person who, directly or indirectly, owns more than 25% of, or who has otherwise control over, the client.
The identity of natural persons can, for example, be established on the basis of a valid passport. If the client is a non-resident and is considered to be a politically exposed person, additional investigations should be carried out.
Site in English
Site in Japanese
