The Financial Intelligence Centre Act (”FICA”) requires Krugerrand Dealers, such as AU999 Commodities PTY Ltd, to establish and verify clients’ identities to combat money laundering and the financing of terrorism.
The documentation as set out below is required by us in order to comply with the obligations set out in FICA.
Please note the requirements may differ depending on the type of entity transacting.
A. IDENTITY VERIFICATION DOCUMENTS (South African citizens and residents)
- Green bar-coded identity document, Both sides of the Smart identity card, Valid passport, Valid drivers licence or Valid temporary identity document
- Proof of Residential Address;
- Proof of Bank Account in the name of the Purchase
B. IDENTITY VERIFICATION DOCUMENTS (Foreign nationals)
- Valid passport, Valid asylum seeker or Refugee permit or Valid work permit;
- Proof of Residential Address in South Africa;
- Proof of Bank Account in the name of the Purchaser
C. COMPANIES
- CIPC Company Registration Documents;
- Proof of Business Address;
- Proof of Identification for all Directors;
- Proof of Bank Account in the name of the Company;
- Proof of Address for all Directors;
D. ACCEPTABLE DOCUMENTS TO VERIFY ADDRESS
Any of the following documents are acceptable to verify a client’s residential address.
It must reflect the clients name, date and residential address and not be older than 3 months:
- A utility bill reflecting the clients name, date and residential address;
- A bank statement reflecting the clients name, date and residential address;
- A recent lease or rental agreement reflecting the clients name, date and residential address;
- Municipal rates and taxes invoice reflecting the clients name, date and residential address;
- Telephone or cellular account reflecting the clients name, date and residential address;
- Valid television licence reflecting the clients name, date and residential address;
- Recent motor vehicle license documentation reflecting the clients name, date and residential address;
- Valid lease agreement.
