Our regulatory requirements
Quality Formations Limited must comply with the following legislation and guidelines:
- the Money Laundering and Terrorist Financing (Amendment) Regulations 2019;
- the London Local Authorities Act 2007; and
- Know Your Customer (KYC) guidelines.
To do so, we must request specific information from individuals in relation to our customers to enable us to verify their identity.
What information do we need?
We need, at a minimum, proof of ID and proof of address from the following people:
- The person who is purchasing our services on behalf of the customer;
- Any person to whom post is to be sent in connection with our Business Address Service; and
- Any shareholders or members of the customer where they individually hold more than 25% of the entity.
Please note that additional verification requirements will be implemented by Companies House in the near future. This will mean all company directors must also provide proof of ID. The exact date of these changes is yet to be determined, however, once in force, we may also need you to provide proof of ID and address for all directors in relation to a customer.
We may, at our sole discretion, request that additional documents be provided and/or that additional checks be carried out. Please see clause 10.9 of our terms and conditions for more information.
What do we mean by proof of ID and proof of address?
The most common form of proof of ID will be your passport or other photographic ID card. We recommend that passports are used where possible.
Proof of address can be, for example, a bank statement or utility bill, so long as it shows your full address and is dated within the last 3 months.
If we are not provided with all of the required information, we will be unable to carry out any services. If you are unable to provide the documents referred to above, please contact us.
How to provide the required information
In the first instance we will use the information provided in your order form to run a digital ID and address check. If the check is successful, you will not need to provide any further information. This is the case with the majority of our customers.
Where the digital ID check is unsuccessful or cannot be carried out, we will notify you to let you know what information we need and from whom.
If asked to provide identity information, we will direct you to the CREDAS mobile application and provide you with step-by-step instructions on how to use it to verify your ID. You will need to accept the terms and conditions of the application to be able to use the app.
The process is easy to follow and will take around 5 minutes.
If we need to request proof of address, we will send you a link to upload your documents. You will not need to use the CREDAS mobile application to verify your address.
The majority of our customers can be verified quickly and easily, but if you have any issues, please contact us so that we can assist.