Companies House has unveiled draft rules concerning the identity verification of directors, persons with significant control (PSCs), and others under forthcoming changes.
The Economic Crime and Corporate Transparency Act 2023 amended the Companies Act 2006 and the Limited Partnerships Act 1907, introducing requirements for certain individuals to verify their identity. This applies to individual directors and PSCs of UK companies, individual general partners of UK-formed limited partnerships, and “registered officers” of certain entities, such as legal entities acting as PSCs.
These requirements are not yet in effect as Companies House is currently developing systems to facilitate identity verification.
Individuals will have the option to verify their identity directly through Companies House or via an “authorised corporate service provider,” such as an accountant or lawyer.
The draft rules outline the necessary documentation for identity verification through both routes. Key requirements include:
a. Providing a valid email address and a current residential address.
b. In some instances, only one piece of documentation is required, typically where the document contains biometric information, like a biometric passport or identity card.
c. In other cases, two pieces of documentation are necessary: one form of photographic ID and one form of supporting documentation.
d. For direct verification through Companies House, individuals can use multiple options, including the gov.uk ID Check app, the One Login facility, or a post office.
These draft rules are proposed under a new statutory instrument: the Registrar (Identity Verification and Authorised Corporate Service Providers) Regulations 2024.
A draft of these regulations was published on Thursday 23 May 2024. Further details are expected to follow.
Author
Gill Laing is a qualified Legal Researcher & Analyst with niche specialisms in Law, Tax, Human Resources, Immigration & Employment Law.
Gill is a Multiple Business Owner and the Managing Director of Prof Services - a Marketing Agency for the Professional Services Sector.
