Know Your Customer
The AMLD 5 (anti-Money Laundering) legislation stipulates that as soon as one or more purchases or sales exceed the total of 10.000 euros, sellers and buyers of works of art must comply with the know your customer (KYC) principle. This means that art dealers must obtain more information about the seller and buyer.
If the seller or buyer is a private person, a copy of the identity card and proof of residence are required.
If the seller or buyer is a company, a copy of the identity card and proof of residence of one of the directors, proof of address of the registered office, the name and date of birth of all directors and the UBOs (ultimate beneficiaries) are required.
To make this administration simple and efficient, you can rely on Artpass ID. Artpass ID has developed a safe and simple app where you can digitally upload your documents and share them with us. You can create an account in a few steps via the link below. You can register as a natural person or as a company.
Once your account has been created, you do not need to do anything further. In fact, with your artpass ID app and eco-friendly membership card you can now share your KYC information automatically with a growing number of fellow traders, galleries and auction houses via a simple QR-Scan.
You can create your account via the following link : https://devuyst.artpass.id/
For questions and help during onboarding : firstname.lastname@example.org