WHAT IS KYC?
Know Your Customer, alternatively known as know your client or simply KYC, is the process of verifying a clients' identity and assessing potential risks for the business relationship.
It is forbidden under the law to provide access to crowdfunding platform to customers who did not pass KYC procedures. Therefore, there is a mustto pass KYC procedure to gain access to investment opportunities on the Smartlands Platform.
WHAT INFORMATION IS REQUIRED FOR KYC?
- Full name
- Date of birth
- Income level
- Home address
- Phone number
Additionally, we will ask you to take a selfie, upload copies of your ID/passport and proof of residence.
Proof of address (POA)
This document is necessary to comply with the Financial Conduct Authority’s regulations and to become a verified investor at the time of creating your account on Smartlands platform. To ensure that the verification process will go smoothly, please read this guideline for POA ( https://smartlands.io/help-center/how-to-get-verified-on-smartlands-proof-of-address-residence/ )
KYC process also includes an assessment of suitability required by FCA for participants of unregulated collective investment schemes ( https://www.handbook.fca.org.uk/handbook/glossary/G1237.html ).
HOW LONG DOES IT TAKE TO PASS KYC?
With the information in hand, it takes up to 10 minutes to pass KYC procedures.