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MONEY LAUNDERING REGULATIONS 2017 Landlords and Tenants

Tates are required to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (information on the payer) Regulations 2017 and be aware of the Proceeds of Crime Act 2002. According to the new regulations, clients must be identified and verified, along with the contracting party and any beneficial owners where an agreement is concluded  for a 'High Value Let' where the letting of land/property for a term of a month or more, and at a rent which during at least part of the term is, or is equivalent to, a monthly rent of 10,000 euros or more.

This also applies to Companies, trusts, personal representatives, and off shore companies. The link on the Landlords page will take you to a PDF with the relevent required information. The same Identification is still required for sales and purchase as identified on the link on the Selling page. If you have any further questions regarding documentation required in order to comply with Money Laundering Regulations please call us on 0207 602 6020.