The General Data Protection Regulation (Dutch: AVG)
De Boer Advies & Notariaat is required to store your personal data in accordance with the laws and regulations that govern civil law notaries. The Notaries Act (Dutch: Wet op het notarisambt) and the WWFT are specific laws that impact on the notarial profession, and the resulting rules for notaries take precedence over the GDPR. The above means that you are unable to exercise certain rights arising from the GDPR.
You will need to specify whether you agree that any drafts or actual deed(s), as well as any other documents that we may draw up on your behalf, may be shared with your estate agent, advisor, accountant and/or other parties.
The Money Laundering and Terrorist Financing (Prevention) Act (Dutch: WWFT)
Under the WWFT, De Boer Advies & Notariaat is legally obliged to conduct client due diligence for any activities covered by the Act. We are not permitted to accept assignments prior to screening our clients. De Boer Advies & Notariaat is required to keep data up to date throughout the entire process.
If an unusual transaction is found, De Boer Advies & Notariaat is obliged to notify the Dutch Financial Intelligence Unit (Dutch: FIU-Nederland).
The notarial duty of client confidentiality does not apply in this case. Any personal data must be provided along with this notification. De Boer Advies & Notariaat is not permitted to inform the parties of any potential notification that is made to the Financial Intelligence Unit.
The WWFT also imposes an obligation to retain personal data.
Ultimate Beneficial Owner (UBO)
One aspect of conducting client due diligence for legal entities is to identify the ultimate beneficial owner of the legal entity; this is always one or more natural person(s). If a party to a transaction is a legal entity, De Boer Advies & Notariaat must investigate the identity of the UBO. You will be asked questions in order to determine this.
Politically Exposed Persons (PEP)
De Boer Advies & Notariaat is required to verify whether a client is a current or former PEP. If this is the case, De Boer Advies & Notariaat must conduct a supplementary and/or more thorough investigation.
Financial flows
De Boer Advies & Notariaat oversees many financial flows. These are financial flows that are exclusively related to transactions in which De Boer Advies & Notariaat is involved. Being ‘involved’ refers to De Boer Advies & Notariaat carrying out work for parties in which there is obligation for one party to pay another.
Investigations are carried out to determine the origin of the funds: the bank account from which a sum of money has been transferred, and who has access to that bank account. Under the WWFT, De Boer Advies & Notariaat is required to ask you how you obtained any funds that you have transferred to us from your own account. If funds have been received from a third party, further investigations will be conducted. In principle, funds that are received from third parties cannot be used.
Investigations will also be conducted into the disbursement of funds. Payments may only be made to those party to the transaction, in addition to certain other common parties (such as banks, intermediaries, owners’ associations, etc.). Payments will not be made to third parties.
If you would like more detailed information on these topics, please do not hesitate to contact us. You can also visit the following websites for further information:
GPDR
www.autoriteitpersoonsgegevens.nl
WWFT/UBO/PEP/FINANCIAL FLOWS
www.fiu-nederland.nl, www.belastingdienst.nl, www.bureaubft.nl, www.afm.nl of www.knb.nl
