ID Requirements for Company Formation
Why do we require proof of ID and address checks?
All formation agents and accountants have a legal obligation to verify 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 ensures compliance with 'Anti-Money Laundering' (AML) regulations and 'Know Your Customer' (KYC) requirements.
What will I need to provide to complete the check?
Using Credas' digital ID software, our free online ID check is very simple to complete. You will just need:
- 1 x government-issued photo ID, such as a passport or driving licence (not expired)
- 1 x proof of residential address issued within the last 3 months, such as a bank statement or utility bill
- A device capable of taking a live selfie, such as a webcam or camera phone
During the online ID verification, Credas' facial recognition technology will verify your presence and determine whether your face (selfie) matches the photo on your ID.
Who needs to provide Proof of ID?
The individuals required to provide ID will depend on the services you have taken with us. Don't worry, we will inform you exactly who needs to provide the necessary checks, so you won't have to figure it out yourself!
Typically, we will require ID from the following persons:
- Account Holder - Anyone who sets up an account and makes a transaction through Companies Made Simple.
- Directors - All persons (or companies) listed as directors who run the company.
- Shareholders - Any person (or company) that owns over 25% of a company or LLP.
Our Current Software Provider for ID checks
Credas typically takes as little as 5 minutes to complete the verification process.
ID
Why do we require proof of ID and address?
We are regulated by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, London Local Authorities Act 2007, and Know Your Customer (KYC) guidelines, which means we must verify the ID and address of customers and certain shareholders.
We will perform a digital check of your ID and address using the information you have already provided in your company order form.
For the remaining 10% of our customers who are not eligible for our digital ID check, or where their digital ID check fails, we have teamed up with CREDAS to provide you with a state-of-the-art mobile App to digitally certify and send us your proof of ID and address in just 5 minutes, for no additional cost.
Our ID Team will send you an invitation by email with simple instructions on how to use the App.
If we need to ask you for ID, we will let you know the names of the people we require it from, so you do not have work this out for yourself. However, for information purposes only, please see who we are legally required to obtain ID from:
- Anyone who purchases a company formation package, an address service, and certain company secretarial services, e.g. transfer or issue of shares, etc.
- All shareholders who own over 25% of a company or LLP.
- Anyone using our Business Address Service, who wishes to have mail forwarded to them.
Follow the steps below to increase your chances of passing the ID Check first time:
- Name Match
Enter your first and last name exactly as it appears on your identity document (passport or driving licence) to avoid rejection.
- ID Document (Clear & Complete)
Ensure the entire ID document is captured on screen. No parts of your ID should be cut off or hidden.
The photo and details on your ID must be clear and in focus.
- ID Photo (Free from Glare)
Ensure your ID is free from glare and your photo is not being obscured by the reflective hologram.
If your face is not clear on the ID, the software cannot perform the face match.
- Selfie Check
Centre and align your face and eyes with the guidelines on the screen.
- Liveness Check
Copy the unique action as displayed on your screen.
- Proof of Residential Address
Take a clear photo of your original proof of address document (Computer and mobile screenshots of documents are not accepted).
- Must be dated within 3 months or annual statement.
- Show your name and home address.
If the online check does not work for you and you cannot troubleshoot the problem, we can accept certified (or notarised) documents instead.
If the online check does not work for you and you cannot troubleshoot the problem, we can accept certified (or notarised) documents instead.
- Valid International Passport (not expired)
- Driving Licence (with photocard)
- National Identity Card
- Utility Bill (Gas, Electric or Water)
- Telephone bill (Mobile phone bills are not accepted)
- Insurance Letter (Motor, Home or Life)
- Mortgage Statement
- Council Tax Bill
- Bank/ Building Society Statement (Digital / challenger banks not accepted)
- Credit Card Statements
- TV Licence
- HM Revenue and Customs Letter/Notice of Coding
- Letter from Benefits Agency
- Financial Statement (e.g Pension/ Endowment)
- Polling card
- Show your name (not business name)
- Show your current residential address
- Show the name of company / authority that issued the document
- Be dated within the last 3 months (or 12 months for annual statements)
- Be written in English (or accompanied by a certified English translation)
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