Why do we require proof of ID and address checks?
All formation agents have a legal obligation to check Proof of ID and Proof of Address documents for all officers including account holders, directors and Persons of Significant Control (PSCs) who use our services. This is to ensure we comply with 'Anti-Money Laundering' (AML) regulations and 'Know Your Customer' (KYC) requirements.
What will I need to provide in order to complete the check?
With the help of Credas' digital ID software, our free online ID check is very simple to complete. You will just require:
* 1 x government-issued photo ID, i.e. passport or driving licence (not expired)
* 1 x proof of residential address issued with the last 3 months / annual statement, i.e. bank statement, utility bill, etc
* A device with the ability to take a live selfie such as a webcam or camera phone.
During the online ID verification, Credas' facial recognition technology will check if you are present and determine whether your face (selfie) matches the photo on your ID.
Who needs to provide Proof of ID?
The people that are required to provide ID will be dependant on the services you have taken out with us. Don't worry, we will let you know precisely who needs to provide us with the checks so you will not need to work this out yourself!
Typically we will require ID from the following persons:
- Account Holder - Anybody that sets up an account and makes a transaction through Companies Made Simple.
- Directors - All persons (or company) that is listed as a director and runs the company.
- Shareholders - Any person (or company) that owns over 25% of a company or LLP
Our Current Software Provider for ID checks
Credas takes as little as 5 minutes to complete, now that is ID checking Made Simple!