Property Smart: Navigating the AML Verification Process as a Buyer or Lessee.
Learn what to expect during the AML verification process and how to prepare for a
smooth transaction.
Initial Contact & Information Gathering
Identification Request: Your Property Consultant, solicitor, or manager will request details about your identity and financial status at the start of the process.
AML Requirements Outline: You’ll be informed about required documentation.
Submission of Documentation
Provide documents verifying your identity, address, and source of funds. Requirements vary based on your status (individual, corporate, or overseas buyer).
Examples include bank statements, proof of income, investment records, or asset sale documentation.
What to Expect from Property Consultants & Compliance Department
Clear Communication: Regular updates and guidance on AML requirements.
Data Security: Personal information will be handled securely in line with regulations.
Professionalism: AML checks are standard and will be managed efficiently. Don’t hesitate to ask questions.
Preparing for a Smooth Transaction
- Start Early: Begin AML verification as soon as possible to avoid delays.
- Stay Informed: Understand the importance of required documents to ease the process.
- Cooperate Fully: Respond promptly to requests and work with your consultant to resolve any issues.
- Engage Reputable Professionals: Use experienced consultants, solicitors, or managers to guide you through AML compliance.