Anti Money Laundering (AML)

We have a duty to comply with Anti Money Laundering Regulations, please take time to read the below requirements. For identity checks see also;

As of 10th January 2020, any UK letting agent handling properties with a rent of 10,000 Euros or more per month must comply with updated money laundering regulations.  Agents must:

  • Register for Anti-Money Laundering supervision by HM Revenue & Customs and renew their registration annually 
  • Put in place written systems and procedures to:
    - Identify risks of money laundering or terrorist financing activities
    - Manage and lessen those risks 
  • Appoint a nominated officer who will be responsible for the letting agency complying with regulations.  
  • Carry out Customer Due Diligence (CDD) checks on new tenants and landlords
  • If the tenant or landlord is a company, trust or similar legal entity, take reasonable measures to:
    - Understand the ownership and control structure
    - Obtain information on the intended nature of the business relationship
    - Identify the source of funding and wealth 
  • Carry out appropriate checks on both parties if an existing tenancy is renewed after this date

We are also subject to the Money Laundering Regulations 2017.

This means that we obtain and hold identification and proof of address for all sellers and landlords (our clients), prospective tenants and prospective purchasers.

Identification checks for clients must take place at the point you instruct Omeeto. This will include proof of ownership which will be established by a Land Registry search or copying Title Deeds where a property is not registered.  We are also required to establish whether there are any beneficial owners on whose behalf the transaction or activity is taking place, hence, you should identify anyone who you would consider to be a beneficial owner.  Where appropriate the destination of funds may also be requested.

For prospective tenants or buyers this should take place at the point your offer is accepted and must be done prior to instructing solicitors or proceeding to a lease. Where appropriate the source funds may also be requested.

You will be required to provide us with two forms of identification, one from LIST A and one from LIST B below.

LIST A - Identity Document

  • Current signed passport
  • Current UK/EU photo Driving Licence
  • Original birth certificate (UK birth certificate issued within 12 months of the date of birth in full form including those issued by UK authorities overseas such as Embassies High Commissions and HM Forces)

LIST B - Proof of Address

  • Current UK/EU photo Driving License, if not used in A
  • Local authority council tax bill for the current council tax year
  • Bank statement issued within the last 3 months
  • Utility bill (gas, electric, satellite television, landline phone bill) issued within the last three months
  • Home or motor insurance certificate for the last year
  • Original mortgage statement from a recognised lender issued for the last full year
  • HMRC self-assessment letters or tax demand dated within the current financial year
  • NHS medical card or letter from GP confirming registration
  • Police registration certificate

Probate

If you are acting as a representative of an estate, we require the following:

  • Grant of Probate (if a will was left)
  • Letter of Administration (if no will left)
  • Individual identity evidence from List A & B for the personal representative, either executor or administrator

Limited Company

If you are acting as a representative of a UK Company, we will also require the following:

  • Certificate of Incorporation
  • Articles of Association
  • Memorandum of Association
  • Latest Annual Return or Confirmation Statement, with details of current company officers
  • If offshore, nominee director declaration and a general Power of Attorney
  • Individual identity evidence from List A and B for all individuals or entities with 25% or more of the shares/ or voting rights in the company

Offshore Company

If you are acting as a representative of an Offshore Company, we will also require the following:

  • Certificate of Incorporation
  • Articles of Association, Memorandum of Association, Latest Annual Return with details of current company officers, Share Certificate(s) showing the Ultimate Beneficial Owner OR
  • Certificate of Incumbency
  • If the shares are owned by another company, repeat steps above for the holding company
  • Nominee director declaration and/or general Power of Attorney (if applicable)
  • Individual identity evidence from List A and B 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
  • List of trustees
  • List of beneficiaries
  • Individual identity evidence from List A & B for all individuals with a vest interest in 25% or more of the capital and/or those who exercise control over the trust

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