Any business that provides a Registered Office address service is required under the Anti Money Laundering (AML) Regulations to be licensed by HMRC. In London, it needs to be registered by the local authority. HMRC will carry out a test on the business personnel and once successful, will licence that business and its premises.
• Mail Forwarding Companies in the UK that provide services to businesses need to be licensed and listed for the Anti Money Laundering Regulations.
Although most mail forwarding businesses do not deal with clients’ money, they are classified as a company service providers. If another body does not already manage them, such as the FCA (Financial Conduct Authority), they must apply individually to HMRC, once complete, a licence is issued for one year.
• It is an offence to run a mail forwarding business without a licence.
• It is necessary to identify customers and any beneficial owners of the company by providing proof of the directors’ identities, proof of address and certificate of incorporation.
Future Formations needs to know our client, know their business and who the Directors and Owners are. To fulfil our obligations, we need to ask for proof of identity, proof of address, and the certificate of incorporation of an already incorporated company. Anyone acting as a representative and applying for our address services on behalf of a business or person also needs to provide proof of identity and address.
A mail forwarding business needs to keep records of customers for at least a year after the end of an arrangement, to hold or forward on postal packages and to keep them open for inspection by the police or any authorised officer at all times.
It should be noted, that a customer will commit an offence if they provide required information that is incorrect. In relation to the investigation of an offence, Trading Standards Officers hold power to enter premises and inspect and seize goods and records.
The maximum penalty for committing an offence is a fine not exceeding £5000 on summary conviction.
If you would like more information, please contact our customer engagement team who would be delighted to assist you further.
Email us: [email protected]
Call us: 0207 781 8033