Anti-Money Laundering and Real Estate

Each year it is estimated there is $1.3 Billion of money laundered within New Zealand.
As of 1 January 2019, Sellers of real estate will be required to prove their identity and may be required to provide further information, particularly if the asset is held by a Trust or Company.

The following video from the CEO of the Real Estate Institute  helps explain some of this new requirement:  Anti-Money Laundering Video

Further information is on this flyer from the Real Estate Institute: REINZ – Proving Your Identity

 

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