AML/CFT Requirements

Anti-Money Laundering and Countering Financing of Terrorism Act 2009 

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As of 1 January 2019, all real estate agencies must comply with this global initiative. We (the agency) must comply with this act by obtaining identifying documentation, trust documentation, and conducting internal ‘due diligence’ as required by the Department of Internal Affairs for all vendors/landlords in both selling and leasing transactions. 

 

We must identify:

• The client (person/s, trust, company, government organisation or department);

• All beneficial owners of the client (directors, and/or shareholders above 25% and/or trustees/settlers of a trust);

  • the person who has effective control of the client​;

  • the person having the transaction conducted on behalf of;

• All persons acting on behalf of the client (lawyer, trust settlor, power of attorney, representative giving instruction on clients behalf);

• The nature and purpose of the business relationship between individuals and the client.

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In the case of Trusts, we must establish the source of funds or wealth used to acquire the asset/property.

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Documentation needed:

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• Identification for each individual (as mentioned above): 

  • Clear photo or copy of;

    • Passport; or,

    • Driver's license (both sides) along with the back of a signed debit/credit card;

    • NZ Firearms license (both sides) along with the back of a signed debit/credit card;

  • Identification must be witnessed in-person by a Lyons Asset Brokerage staff member or contractor, or witnessed and signed by an authorised signatory (JP, lawyer, MP, etc)​

  • Proof of residential address;

    • Rates or services bill for each individual showing their residential address for each, or;

    • Companies Office certificate showing residential address.

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• If owned by a Trust:

  • All trustees/settlers identification and proof of address for individuals as above;

  • Copy of the Trust Deed;

  • Copy of any variations to the Trust Deed;

  • Confirmation of how the trust accumulated its wealth to purchase the asset.

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• If owned by a Company:

  • Identification and proof of address for all directors or individuals with effective control;

  • Identification and proof of address for all shareholders who own more than 25%;

  • Companies Office Certificate of Incorporation.

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If we cannot identify all individuals and obtain relevant documentation as set below we may not be able to act as an agent.