Pursuant to applicable laws and regulations, including the Money Laundering and Terrorist Financing (Prevention) Act (‘Wwft’), in certain cases Schelstraete C.S. Lawyers B.V. is required to establish and verify the identity of its client, their representative(s) and ultimate beneficial owner(s) (‘UBO’) prior to commencing with the business relationship. In addition under certain circumstances, Schelstraete C.S. Lawyers B.V. is obliged to report (intended) unusual or suspicious transactions to the competent authority. .
In the case of a natural person, one’s identity can be verified on the basis of a valid passport or a valid identity card. If the client is a Politically Exposed Person (‘PEP’) then additional documentation is required.
In the case of Dutch legal entities, the identity can be verified on the basis of an (electronic) extract from the trade register and / or a deed or statement drawn up and issued by a lawyer or civil-law notary.
In respect of foreign legal persons, the identity can be verified by, among other things, an extract from the trade register of the country of origin, a notarial deed or on the basis of other documents, data or information customary in international trade.
Additionally, for all legal persons, the ultimate beneficial owner(s) must also be identified and verified. The ultimate beneficial owner is the natural person who (directly or indirectly) is the ultimate owner or has ultimate control over the company.
If Schelstraete C.S. Lawyers B.V. has reported an (intended) unusual transaction, Schelstraete C.S. Lawyers B.V. is obliged to observe secrecy and confidentiality. This means that Schelstraete C.S. Lawyers B.V. is prohibited from informing the client about the report.
If you have any questions about the application of the Wwft by Schelstraete C.S. Advocaten B.V., please contact our compliance officer mr. Joëlle Bongers.
