More information about the law and your privacy

PriOffice falls under the Money Laundering and Terrorist Financing (Prevention) Act (AML); a serious and far-reaching regulation. This law requires us to conduct thorough identity and compliance checks. More information about the AML can be found on this page.

The government strictly enforces this law and non-compliance is subject to heavy fines. Therefore, we must carefully verify customer data and take immediate action if any discrepancies are found. For example, if the name on your ID doesn’t match the name you entered in the portal, verification may be denied.

Your privacy, our priority

How is your data protected?

A valid concern – and one that we take very seriously. Our commitment to privacy goes beyond simply complying with the General Data Protection Regulation (GDPR), which imposes strict guidelines on how personal data is processed and protected.

But we go even further. Privacy is one of our core values and many customers choose us precisely because they value security and discretion. Here’s why:

  • We operate on an ISO 27001 and 27701 certified platform , ensuring the highest standards of information security and data privacy.
  • We never share your data with third parties, unless this is required by law.
  • We do not allow third-party tracking tools in our portal, such as Google Analytics.
  • All personal data is stored encrypted, which prevents unauthorized access.
  • Our portal undergoes continuous security testing through a responsible disclosure program.

We believe that security and privacy go hand in hand. By implementing industry-leading standards, we ensure that your data remains secure, private, and completely under your control.

Further down this page you can read exactly what we need from you.

Would you like to know more about the privacy and security of our portal? Then click on the button below and you will be directed to the PriServices website.

What do we need from you

ID check

In order to comply with the AML, PriOffice must conduct a ‘Know your customer survey’. Part of this is the ID check and in some cases we may have to ask some additional questions.

To ensure that ID verification is easy, fast and most importantly secure, we use an automated verification process through ZignSec’s secure environment. This guarantees that your data remains safe at all times.

  1. In the portal, you’ll see a notification that your account is on standby due to a missing or invalid ID document. Click the Resolve button.
  2. A message will appear informing you that the ID verification process is handled through ZignSec. Click Start to get started.
  3. Follow the on-screen instructions to complete the verification process. It only takes a few minutes.

UBO-statement

For business customers, the research goes one step further; in addition to an ID check of the authorised signatory of the company, we also ask you to fill in the UBO statement in our portal. This maps out who is/are the Ultimate Beneficial Owner of the company.

A UBO is a natural person who ultimately owns or controls an organization. This includes individuals who:

  • Own more than 25% of the shares in a private limited company (BV)
  • Have more than 25% ownership in a general partnership (VOF) or a similar entity.
  • Have more than 25% of the voting rights in the event of amendments to the articles of association of a foundation or association.
  • Have special control rights over more than 25% of the organization’s assets or profits.

If no person meets these criteria, senior management (e.g. directors or partners) is considered UBO.

Who must be reported as UBO?
Check the following questions:

  1. Are there natural persons who directly or indirectly own 25% or more of the shares in the legal entity?
  2. Are there individuals who are entitled to or have special control over 25% or more of the organization’s assets?
  3. Are there individuals who are entitled to 25% or more of the organization’s profits?
  4. Are there individuals who can exercise 25% or more of the voting rights in the general meeting?

How to fill inthe UBO statement
If you answered question 1 with “YES”:

  • Fill in the details of all UBOs and state the percentage of shares they own.

If you answered “YES” to questions 2, 3 or 4:

  • List all UBOs and mark them as having Control.
  • Also include any individuals who have actual control over the organization.
  • Note: There is always at least one person with actual control.

If a UBO has both a % Share and Control:

  • Indicate both in the statement.

If no one qualifies as UBO
Did you answer “NO” to all questions?
Then a senior management member must be appointed as UBO. This is usually:

  • A director or
  • An authorized signatory who can make and sign board decisions.

In this case, you fill in the details of the people who are authorized to make decisions and sign documents on behalf of the organization.

UBO Obligations for Foundations
In a foundation, a UBO can be determined based on the following criteria:

  • Natural persons who are entitled to more than 25% of the assets of the foundation.
  • Natural persons who have more than 25% voting rights when amending the articles of association.
  • Individuals who have significant influence on decisions, even if they are not directors.

If none of these situations apply, the directors of the foundation are regarded as UBOs.

Extract from the Chamber of Commerce

If we are unable to request an extract from the Chamber of Commerce ourselves, we will ask you to provide it. This is the case, for example, with foreign entities. The extract may not be older than 6 months.
If another company is listed as a director of the company, we must also receive the extract from that company. This will continue until we can conclude that you are authorised to sign for the company for which you are making the application.