Why every seller asks
Anti-money-laundering rules and international sanctions require sellers and their banks to know who they are dealing with and who ultimately owns that company. Without this check, a bank will not handle the payment, so a deal without KYC cannot close.
The company file
- Certificate of incorporation or a recent extract from the trade register
- Articles of association
- The list of directors and the register of shareholders
- Proof of the company's registered address
The people behind the company
- Passport copies of the authorised signatories
- A board resolution or power of attorney showing who may sign for the company
- Identity details of the ultimate beneficial owners, usually every person who owns or controls 25% or more
If you represent a buyer or seller
Intermediaries add an authorisation letter from the company they represent, signed by one of that company's authorised signatories. The represented company provides its own full KYC file. A request that arrives without both cannot move forward.
Small things that save weeks
- Send clear, complete scans, not photographs of single pages.
- Make sure the company name is written the same way on every document.
- Add an English translation where the original is in another language.
- Share your KYC only with counterparties you have verified yourself.
At Portline, every transaction starts with full KYC, and no offer is issued until the documents have been received and checked. The compliance page sets out the full rules.