The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) requires real estate agents to conduct customer due diligence on all sellers and vendors.
When engaging with you, we must establish the following:
1. The full legal name(s) of the ‘beneficial owner(s)/real person(s)’ selling the property.
2. If the property is being sold by a Trust, then all of the Trustees are considered to be ‘beneficial owner(s)/real person(s)'.
3. If the sale is by a Company, then the agent must identify who in the Company owns a 25% or greater share, they are the ‘beneficial owner(s)/real person(s)'.
Once we have established who the ‘beneficial owner(s)/real person(s)’ are, we will need to obtain documentation from each of these person/s to prove their identity. The following three identification options can be used:
Option 1: Photographic identification – some examples are a passport, a travel document, or a firearms licence. The photographic identification must contain the name, date of birth, a photograph, and the signature of the named person.
Option 2: Non-photographic identification – some examples are a birth certificate or a citizenship certificate. For this option supporting identification that includes a photograph of the person named on the non-photographic documentation in the form of a driver's licence, an 18+ card, or an international driver’s license must also be provided.
Option 3: A New Zealand drivers licence supported by a bank card, a gold card, or an IRD letter.