Anti Money Laundering (AML) Compliance for Virtual Office Services

Anti Money Laundering (AML) Compliance for Virtual Office Services

Registered Address LTD is one of the leading virtual office providers in the UK.

Our services fall under the category of 'Trust or Company Service Providers' (TCSPs). As such, we are legally required to comply with Anti Money Laundering (AML) Regulations 2017 (MLR 2017) as amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, under the supervision of HM Revenue and Customs (HMRC).

Here’s what you need to know about our AML compliance and how it impacts you as our client.

What is Money Laundering and Why Does it Matter?

Money laundering involves disguising funds generated from criminal activities as legitimate income. It's a serious crime that affects not just the financial sector but also various other businesses, including ours.

How We Verify Your Identity

Verifying the identity of our clients is a requirement for all virtual office providers. We conduct checks on the directors/beneficial owners of a company. For each director/beneficial owner, we require:

• A valid proof of ID (such as a driving licence, passport, or national identity document).
• Proof of residential address (like a utility bill or bank statement) that is dated within the last six months.
• Proof of mail forwarding address (where we post your letters), if it’s not the same as the residential address.

These documents can be uploaded securely through your customer dashboard and are typically reviewed within one working day. 

Each client undergoes an individual assessment. For jurisdictions and industries deemed high risk, we implement additional checks.

Our Commitment to Your Privacy

Your privacy is of paramount importance to us. All documents are securely stored on our servers and are accessible only to relevant staff. For more details on how we handle your personal information, please visit our Privacy Policy. 

Document Guidelines and Rejections

We provide general guidance on what we can and cannot accept as proof documents when you are submitting documents for verification. 

Should a document be rejected, we will usually provide specific reasons to help you rectify any issues promptly.

How to Contact Us

If you have any questions about our AML procedures or need assistance with documentation, please reach out to us via our Contact Form. Existing customers can raise a ticket from their account dashboard. 

This blog is provided for informational purposes and offers an overview of our general practices regarding AML compliance. The interpretation and application of the information provided are subject to the professional judgement of our Anti-Money Laundering team, who may exercise discretion beyond the scope of this material.