Identification Requirement

The Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) requires accountants and other service providers to identify clients before providing a service. Grant Thornton asks its clients for identification prior to commencing any work. Our advisors will then provide you with further information on how this identification requirement can be fulfilled.

For a natural person, identity is established using a valid identification document, such as a passport. Domestic legal entities, or foreign legal entities established in the Netherlands and registered as such with the Chamber of Commerce, are identified using an extract from the Chamber of Commerce register or a deed drawn up by a notary established in the Netherlands.

For foreign legal entities not established in the Netherlands, identity can be established, among other methods, with an extract from the official commercial register of the country where the entity’s registered office is located.

The representative of such a legal entity must also be identified, as well as the ultimate beneficial owners (UBOs) who directly or indirectly hold more than 25% of the shares in that legal entity. For both the representative and the UBO, their first names, surname, and date of birth must be known.