Know Your Customer Identity Form

Know Your Customer procedures ensure that all parts of the business, from customers and agents to distributors and consultants, are compliant with Anti Money Laundering.

Learn More
KNOW US BETTER

Proving your identity 

Our business is based on mutual trust with our clients. Due to the transactional nature of the services we provide, just like lawyers, accountants and financial services firms, all estate agents and real estate advisers are required by law to carry out Know Your Customer (KYC) checks. These checks serve to ensure that we comply with our legal obligations and help regulators to ensure that the UK real estate industry is not misused to facilitate money laundering or the financing of criminal activities.

All clients needs to fill out our KYC Identity Form. We need this for our back office and so we know exactly who our clients are. As we are a fully compliant business, we are supervised under HMRC’s Anti-Money Laundering, therefore we are legally obliged to conduct Client Due-Diligence in accordance with Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Your details will be stored securely and will be used to package to our agents and developers. 

Year Established
Products
Team Size
Clients
Click or drag a file to this area to upload.
Click or drag a file to this area to upload.

FAQ’s

Get prompt responses from a friendly, professional and knowledgable support team.

What are the regulatory requirements placed upon estate agents?

All estate agents in the UK are required to comply with a number of laws designed to prevent illicit funds passing through the UK. These include the Proceeds of Crime Act 2002, the Criminal Finances Act 2017, the Terrorism Act 2006 and the Money Laundering Regulations 2017.

Real estate transactions are seen by the UK Government and crime agencies as posing a particularly significant money laundering threat. As such the Money Laundering Regulations 2017 require estate agents to understand and verify exactly who their customers are and have evidence that they have completed KYC checks. Should an estate agent become suspicious of a prospective client or existing client’s activities, it must report this to National Crime Agency.

We take our anti-money laundering responsibilities very seriously and believe that the laws governing the UK property industry are critical tools in the fight against organised crime and terrorist financing. If we did not complete KYC checks we would undermine our corporate responsibilities and also place ourselves and you at risk of prosecution.

Why do Prosperty Group ask their clients to provide information about themselves or the businesses they represent?

Estate agents in the UK are required to comply with, amongst other things, the Proceeds of Crime Act 2002, the Criminal Finances Act 2017, the Terrorism Act 2006 and the Money Laundering Regulations 2017. These place various obligations upon estate agents, with one of the key requirements being to undertake KYC checks to verify the identities of their clients. For corporate clients these checks will need to be extended to enable us to identify the Ultimate Beneficial Owner and/or those who have ultimate executive control.

What information will you request and what checks will you need to do?

We operate a risk-based approach and we identify criteria that may indicate a higher risk of money laundering. Our risk-based approach assesses the risk of client’s laundering money through our business activities and whilst we accept that the majority of our clients will not launder money, we must identify criteria that would indicate a higher risk of money laundering.

Money launderers may seek to hide their identity behind nominees, or corporate or trust structures. So when we are instructed on behalf of any company, partnership, trust or other principal we must:

  • Check the identity the person instructing us 
  • check they are authorised to act 
  • Take measures to understand the client, including its ownership and control structure 
  • Establish if there is any beneficial owner who is not the client, and take adequate measures, on a risk-sensitive basis, to verify their identity, so that we are confident about the identity of the ultimate beneficial owner(s). 
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)
  • Photo ID & Proof of Address 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
  • Photo ID & Proof of Address for all individuals or entities with 25% or more of the shares or voting rights in the 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)
  • Photo ID & Proof of Address 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
  • Photo ID & Proof of Address for all individuals with a vest interest in 25% or more of the capital and/or those who exercise control over the Trust

We also carry out “enhanced due diligence” in any case where there is a high risk of money laundering, which includes the following:

  • We are dealing with a person established in a high-risk country. 
  • The client is a “politically exposed person” (known as a “PEP”), or a family member or known close associate of a PEP. 
  • The client has provided false or stolen information. 
  • A transaction is complex and unusually large. 
  • There is an unusual pattern of transactions, and the transaction or transactions have no apparent economic or legal purpose. In addition you should be aware of the following risk factors which particularly apply in the context of this company. 
  • Cash transactions. The company’s policy is that we only accept cash from anyone up to a limit of £500 in any 28 day period. 
  • Clients who use complex corporate or trust structures to own property. 
  • Funds are coming from a high-risk country. 
  • Funds being provided by someone other than the buyer or a mortgage lender.
  • A property is being rapidly re-sold, in circumstances which may suggest mortgage fraud.

Can you rely on KYC information provided to my other professional advisers?

No. As Prosperty Group is ultimately responsible in law for ensuring that the KYC checks have been undertaken properly and comprehensively we undertake our own checks. However, if you have already provided the documentation that we require to a third party professional adviser (i.e. solicitors or banks), you can request that they forward this to us for use in our files. This does not mean that we will not ask you for further information, but it may save you replication of effort.

How will you use my information?

Your information will be used for the sole purpose of completing our KYC checks in order to meet our legal obligations.

Your information will be held confidentially and will not be shared with any third parties unless we are required to in order to comply with a regulator or law enforcement authorities.

In the event of an inspection/investigation by the regulator or law enforcement authorities your information will only be shared if requested and to the extent we are obliged to provide it.

Should you wish for us to provide the information that we hold about you to another third party acting on your behalf, or on the other side of a transaction, we would be pleased to do so following a written request.

Who regulates estate agents for the purposes of the Money Laundering Regulations 2017?

For the purposes of the Money Laundering Regulations 2017, estate agents are regulated by HM Revenue & Customs.

Do I have to answer these questions?

Yes. In order for us to act on your behalf and provide our services, Prosperty Group are obliged to ask these questions and obtain a completed KYC check to meet our regulatory requirements. The questions we ask are inside the scope of the guidance provided by the regulator.

What happens if I do not answer the questions / what if I don't give you the information / documentation?

Throughout the KYC process, we may contact you to request additional information or further clarification if the information we have is incomplete or insufficient to meet our regulatory obligations. If a client ultimately fails to provide the necessary information, we will be unable to act on their behalf (or will be required to terminate an existing agreement if one is already in place) in order not to violate our legal obligations.

Do other real estate advisers and estate agents request this information?

In order to comply with the Proceeds of Crime Act 2002, the Criminal Finances Act 2017, the Terrorism Act 2006 and the Money Laundering Regulations 2017, all real estate advisers should complete comprehensive KYC checks. Without having adequate processes and procedures in place to check and confirm a client’s provenance, as obliged to by the law, a real estate adviser is putting its reputation, its clients and the wider public at risk.

Do you ask all of your clients KYC-related questions?

Yes.

I feel that some of the questions are intruding into my privacy, are you really allowed to ask me these questions?

Yes. The processes we have established are within the scope of the law and are proportionate to the guidelines set by the regulator. We complete them for every client who wishes to instruct us. We will never ask for more information than is required and all the information that you provide will be held in strict confidence and on secure systems.

You already asked these same questions last year. Why are you asking them again?

We are legally required periodically to re-confirm the information we hold about our clients if we remain in an ongoing business relationship with them. The period of time that elapses between subsequent KYC approvals is dependent on a number of perceived risk criteria.

Where can I learn more about the requirements?

What can I do to help with this process?

If you are an individual the process should be straightforward. We will be able to confirm the documentation that we require to enable us to complete our KYC checks quickly; the basics are covered earlier in this document. If you are using a corporate or trust structure or are a not for profit organisation, or an investment fund, we have a dedicated Client On-boarding Team that can work with you to identify the information that we require from you to ensure that we meet our regulatory obligations.

What documents can I use for proof of address?

UK/EU/EEA Drivers Licence (if UK Drivers Licence not used as ID)
Must be valid, not expired. Photo only. Full or provisional.

Bank, Building Society or Credit Union Statement
Dated with 3 months. Must include account number and show recent activity. No general correspondence.

Credit Card Statement
Dated within 3 months. Must include account number and show recent activity. No general correspondence.

UK, EU, EEA Mortgage statement
Dated within 12 months. Must show account number. No general correspondence.

Utility Bill
Dated within 6 months E.g. Gas, electricity, water. Must show address for service and/or account number. No general correspondence.

Telephone Bill
Dated within 6 months E.g. Landline or mobile pay monthly (excluding pay as you go). Must show address for service and/or account number. No general correspondence.

Council Tax
Dated within 12 months. Must show address for service and/or account number. No general correspondence.

Tenancy Agreement
Dated with 12 months. Must state full name and full property address. Issued by local council, housing association, solicitor or reputable letting agent.

Benefits Entitlement Letter
Dated within 12 months. Issued by DWP or Jobcentre plus. Must confirm benefit payable at time of issue. E.g. Pension, disability, single parent, housing etc.

HMRC Tax Notification
Dated with 6 months. Must state national insurance number and tax calculation. No general correspondence.

Home or Motor Insurance Certificate
Dated within 12 months. Must state insured address or registered address for vehicle and policy number. No general correspondence.

UK solicitors letter confirming house purchase/land registration
Dated with 3 months. Must state full name of new proprietor and full property address.

NHS Medical Card or letter from GP confirming registration
Dated within 3 months. Must state individual’s date of birth and NHS number. No general correspondence.

Official confirmation of Electoral Register entry or official poll card
Dated within 12 months. Must state full name and full address. No general correspondence.

Police Registration Certificate
Dated within 12 months. Must state the full residential address of the individual.

What documents can I use for proof of identity?

  • Current signed passport
  • Valid UK driving licence
  • EEA member state identity card
Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound
Cart Overview