The UK Companies House Register is soon to require that all individuals who register companies or file with the Registrar will have to prove who they are by verifying their identity.
For companies already on the Register, there will be a transition period to give existing Directors time to comply with the new requirements.
Authorised Corporate Service Providers – ACSP
ACSPs will be required to declare that they have completed all the necessary identity verification checks when they contact the Registrar and Companies House.
A Companies House ACSP must be registered with a supervisory body for anti-money laundering purposes and have an existing obligation to carry out customer due diligence checks on all their clients.
ACSPs will need to confirm they are AML supervised and register with the Companies House Registrar before they are allowed to form companies or to file on their behalf.
Under AML regulations, all ACSPs are required to retain records and the Registrar can request further information on identity verification checks if necessary.
Identity Verification Deadlines
Identity verification of Directors must take place before any application for the formation of a company is submitted to the Registrar.
Post-incorporation, the identity of any new Director should be verified as soon as possible and before their appointment is notified by the company to the Registrar.
Anyone wishing to file documents with the Registrar will need to verify their identity before they are permitted to do so.
System Day Ltd is a UK-regulated agent that is permitted to undertake verification checks on all beneficial owners and managing officers of overseas entities.
We anticipate also being recognised by the Registrar as an ACSP under the new regime.
Individuals who register companies or file with the Registrar will have to prove they are who they say they are by verifying their identity. This will make it much harder to register fictitious directors or beneficial owners, stopping the vast majority of fraudulent appointments from reaching the Companies House register.
This will apply to existing directors, People with Significant Control, and those delivering documents to the Registrar.