AB Corporate Client Due Diligence

CDD for UK private limited companies

For private companies, you must obtain and verify:

  • the name and company number; and

  • the address of the registered office and principal place of business

 

[You must take reasonable measures to determine and verify the full names of the board of directors (or equivalent management body) and senior persons responsible for its operations].

[You may verify and/or obtain this information from Companies House].

We should seek to understand the nature of the client's business as this will assist us in identifying unusual requests or transactions.

We should identify and verify the identity the beneficial owners, that is individual who:

 

  • exercises ultimate control over the management of the company;

  • directly/indirectly ultimately owns or controls more than 25% of the shares or voting rights;

  • controls the company.

 

This will require not only an understanding of the constitutional documents but also any shareholders' agreement or the like applicable to the company. 

Please note we have a duty to report any discrepancies between any information provided to us regarding beneficial ownership and that held by Companies House.