Financial Intelligence Centre Act

The Act exists to prevent money laundering, fraud, tax evasion, financing of terrorism & other related criminal activity that aims to misuse our financial systems.  It requires certain accountable institutions to validate and verify their client's identity before a business transaction can take place.

Real Estate Agents are Accountable Institutions in terms of FICA

By Law Estate Agents are required to:

  • Verify the Identity of any Buyer, Seller, Landlord or Tenant
  • Keep records of all transactions done
  • Report certain Information to FIC (Financial Intelligence Center)

Estate Agents also have the responsibility to:

  • Guard against crime and unlawful practices
  • Report alleged or attempted crimes and unlawful or unethical activities without protecting any party involved

THE Fica documents THAT ESTATE AGENTS require from THEIR clients:

Individuals:

  • Completed authorization form (Landlords)
  • Application Form (Tenants)
  • Copy of ID or Passport & permit
  • Current proof of address (dated in the last 3 months)

Companies:

  • Completed Authorization form (Landlords)
  • Application Form (Tenants)
  • Company Registration Documents
  • Resolution signed by all directors
  • Signatory ID & proof of address
  • Company proof of address

Trusts:

  • Completed Authorization form (Landlords)
  • Application Form (Tenants)
  • Trust Documents
  • Letter of Authority/Master of High Court
  • Resolution
  • Signatory ID & proof of address

List Your Property With Us

Kindly note that Etchells & Young are complying with the Presidents instruction for the National Lockdown starting from midnight on the 26th of March 2020. Although we will not be able to do viewings at any property, we have implemented plans to work remotely during this time. If you are able to email photos and a description of your property to the designated agent we will be able to list your property as per normal. Our agents will take calls and emails from prospective tenants and arrange for viewings after the lockdown has ended.

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