Seller onboarding helps us verify your identity and is also known as a KYC (Know Your Customer) check.
What does that mean?
KYC is a legal requirement set out by the EU for businesses that work with paying customers. It involves collecting and verifying details such as customer identity, address, and other important information.
The purpose of KYC is to prevent money laundering and the financing of terrorism worldwide.
As an auction provider, we’re required to perform comprehensive customer identification, which is why we ask you to complete our onboarding form before using our platform.
How to complete your form
1. Seller Information
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2. Company Information
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💡 A Legal Entity Identifier is only required if your company trades in publicly listed shares, ETF fund units, or other securities or derivatives listed on the stock exchange.
3. DAC7 directive
DAC7 is an EU directive that came into effect in 2023, aimed at improving cooperation between tax authorities in EU member states.
It requires digital platform operators to collect and report data on their users, such as sellers’ sales revenue and taxable activities. Learn more.
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4. Adding a company bank account
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💡 The document you upload will be manually reviewed. If any information is missing, we’ll get in touch with you.
5. Adding Ultimate Beneficial Owners (UBOs)
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💡Board members, directors, and similar roles are not automatically considered UBOs. To be classified as a UBO, a person must have significant control over the business's operations and/or strategic decisions.
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💡 No additional documents are required at this stage, but if more are needed, our customer service team will contact you. If no individuals meet these criteria, we refer to senior management.
💡 How is my data stored? We only collect information necessary for the onboarding process and we protect your data from unauthorized access, changes, or deletion.
We store your data in line with EU regulations which require us to keep customer information and ID copies for at least 5 years after our business relationship ends or a transaction is completed.
6. Reviewing and Submitting the Information
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💪 Thanks for taking the time to complete your onboarding form and help us create a safe auctioning experience for everyone!