From 1 January 2019 we must obtain more information from our clients. This is due to the AML/CFT Act (Anti-Money Laundering and Countering Financing of Terrorism Act 2009).
When we say 'clients', we mean property owners- vendors or landlords that we sign an agency agreement (listing) with, to sell or lease property.
The purpose of the AML/CFT Act is to prevent money laundering and the financing of terrorism. You can see more about it here. This Act has applied to banks for some time and now also applies to all lawyers, accountants and real estate agencies (like us).
The AML/CFT Act requires that before an agency agreement for your property is signed, we must undertake "customer due diligence" (CDD) on you. This information includes verification of:
You can now use RealMe® to verify your identity with us - contact us to find out more. RealMe® is a NZ Government initiative and allows you to register your identity securely, and then easily verify yourself with many different government agencies, banks, and other companies. You can see more about it here: https://www.realme.govt.nz/
If you don't have a RealMe® verified identity, we require documents proving your identity instead. Acceptable documents include a current passport, driver's licence or full birth certificate, as well as a bank statement or utility bill to verify your residential address. We need to meet you with your documents and photograph them so we can keep a copy of them on file.
If your property is owned by a company or trust, we will ask for further information about the entity and other people associated with it (such as other directors and shareholders, trustees and beneficiaries), and the structure of ownership. We might also need information confirming the source of wealth of the entity. Where a trust owns the property, we must get a copy of the trust deed and any amendments.
Please don't be concerned if we ask for more information. We are legally required to obtain this information from all clients, even those of you who have been clients for many years, before we can sell or lease your property for you.
If you have any queries or concerns, contact us - we're happy to help!