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What is KYC (Know your customer)?

This article will explain what KYC is and why it's important.

 

What is KYC?

  • KYC stands for Know Your Customer. In Ireland, it is a legal requirement under Anti-Money Laundering (AML) laws that businesses, particularly those offering financial, legal, or business address services, verify the identity of their clients.

For limited companies and other legal entities, KYC rules in Ireland require us to:

  • Identify and verify the identity of company directors and beneficial owners.
  • Collect personal ID documents as part of a due diligence process.
  • We are approved by the Department of Justice to collect this information as a licensed Trust Company Service Provider (TCSP).

What photo ID documents are acceptable?

You may submit one of the following as valid Photo ID:

  • Passport (Booklet form)

  • Passport (Card form)

  • Driver's Licence

Note: The photo ID must be valid and in date. Expired IDs will not be accepted.

What can I use as a proof of address?

Acceptable documents for proof of address include:

  • Current utility bills (including those printed from the internet)

  • Current household/motor insurance certificate and renewal notice

  • Official documentation/cards from a taxation authority (e.g., Revenue Commissioners in Ireland or HMRC in the UK), addressed to you

  • Court appointment documents (e.g., liquidator or grant of probate)

  • Local authority documents (e.g., refuse collection bill, water charge bill, including those printed from the internet)

  • Bank or financial institution statements (credit/debit card statements also accepted, including those printed from the internet)

Note:

  • Must be dated within the last 3 months

  • Must include your full name, current address, date of the document, and sender’s identity

  • If the document contains sensitive financial information (e.g., bank statement), please redact any non-essential information before submission

What is the verification process?

In addition to collecting your photo ID and proof of address, we are required to verify your identity. This means confirming that you are who you say you are — and not someone impersonating you.

Identity verification can be completed through several methods, including:

  • Use of secure ID verification technology

  • Submission of additional identification documents

  • A live selfie matched to your photo ID

  • A face-to-face meeting, if necessary

 

Any Questions about this process can be addressed to the Office Suites Anti Money
Laundering Officer by emailing vosupport@officesuites.ie

 

Further information about the law on Anti-Money Laundering as well as our role as a
TCSP can be found on www.amlcompliance.ie