Financial Intelligence Centre Act

Explanation of FICA
FICA (Financial Intelligence Centre Act) = Protection against Money Laundering. Estate Agents are Accountable Institutions ito FICA.

Estate Agents are required to:
  • Verify the Identity of any Buyer, Seller, Landlord or Tenant.
  • Keep records of all transactions done.
  • Report certain Info to FIC.
Furthermore, Estate Agents have a Responsibility to:
  • Guard against crime and unlawful practices.
  • Report alleged or attempted crimes and unlawful or unethical activities without protecting any party involved.
Fica documents required from clients:

Individuals:
  • Completed authorization form (Landlords) Application Form (Tenants)
  • Signed FICA declaration
  • Copy of ID
  • Proof of residence (dated within the last 3 months)
Companies:
  • Completed Authorization form (Landlords) Application Form (Tenants)
  • Signed FICA Declaration
  • Company Registration Documents
  • Resolution
  • Signatory ID & Proof of residence
  • Company Proof of Residence
Trusts:
  • Completed Authorization form (Landlords) Application Form (Tenants)
  • Signed FICA Declaration
  • Trust Documents
  • Letter of Authority stamped by master of high court
  • Resolution
  • Signatory ID & Proof of residence
  • Trust Proof of Residence (If there is one)