Reporting Unusual Transactions

Notaries, like other lawyers, have the obligation to keep secret whatever has been entrusted to them. In 2010 a law has come into force, which obliges the notaries to report certain unusual transactions to a reporting point ("Meldpunt"). These transactions concern unusual transactions, which have the purpose of or are related to money laundering or financing terrorist activities. The government has prepared a list of cases which must be reported, although the notary might think that they are not unusual, like cash money transactions exceeding certain amounts.

In connection with said legislation certain identification requirements were introduced. Any client of the notary must identify himself with a valid passport, identity card or driver's  license.  If a legal entity is represented, official documentation about the existence and the authority of the legal entity is required, as well as a legal opinion about the authority of the person(s), who represent the legal entity. Also needed is a proof of who is the Ultimate Beneficial Owner ("Ubo") of the legal entity.