The Need for Due Diligence

Prior to us providing any service to a new client, there is a need for us to undertake a comprehensive Know Your Customer (KYC) exercise and collect due diligence information on all ultimate beneficial owners, shareholders and directors. This is a critical and important part of our effort to ensure compliance with both local and international standards relating to transparency, the proceeds of criminal conduct, anti-money laundering and Terrorist Financing legislation and regulations. In addition as a part of the process following the incorporation of a company we are required to upload information on beneficial owners to the Beneficial Ownership Secure Search (BOSS) system and the names of directors have to be uploaded to the Registry of Directors.

Failure to carry out proper KYC can result in significant fines of up to $75,000 being imposed accordingly this is an area where we do not compromise. We will not accept an application and undertake to provide service until we are fully satisfied with the KYC information that has been provided. Once this initial hurdle has been crossed, we then swing into action and commence the delivery of our signature brand of excellent service.