Cafico International is committed to upholding the highest legal and ethical standards in all of its business practices. As a compliance and governance specialist, we take every care to ensure that not only our clients’ actions are in compliance with all laws and local regulations but also our own.
Cafico International is authorised by the Department of Justice and Equality in Ireland to carry on the business of a Trust or Corporate Services Provider (TCSP).
What is a TCSP?
TCSP refers to any person whose business it is to provide any of the following services:
- Forming companies or other bodies corporate.
- Acting as a director or secretary of a company under an arrangement with a person other than the company.
- Arranging for another person to act as a director or secretary of a company.
- Acting, or arranging for a person to act, as a partner of a partnership.
- Providing a registered office, business address, correspondence or administrative address or other related services for a body corporate or partnership.
- Acting, or arranging for another person to act, as a trustee of a trust.
- Acting, or arranging for another person to act, as a nominee shareholder for a person other than a company whose securities are listed on a regulated market.
As a TCSP our business falls to be monitored by the Anti-Money Laundering Compliance Unit of the Department of Justice and Equality in Ireland.
The Criminal Justice (Money Laundering and Terrorist Financing) Acts, 2010 and 2013 (the “Acts”) impose obligations on a wide range of “designated persons” including credit and financial institutions, lawyers, accountants, estate agents, trust and company service providers (“TCSPs”), tax advisers, and others in relation to money laundering and terrorist financing.
Cafico International, as a TCSP authorised by the Department of Justice and Equality in Ireland, must comply with the relevant provisions of the Acts and as part of that obligation is required to carry out customer due diligence on existing and prospective clients to specified standards such that we can verify our customers’ identities and any beneficial owner and attend to on-going monitoring.
Accordingly, Cafico International has implemented specific internal Know-Your-Client (“KYC”) policies procedures and record keeping to ensure compliance with the Acts.