Anti-Money Laundering & KYC

As a dealer in high-value goods, [COMPANY LEGAL NAME, e.g. Meridian Timepieces, Lda.] is an obliged entity under the EU Anti-Money Laundering Directives (most recently Directive (EU) 2018/843) and Portuguese Law No. 83/2017, and applies the Financial Action Task Force (FATF) recommendations to all high-value transactions.

We are required to identify and verify the identity of customers for any cash transaction of €3,000 or more, any single transaction of €10,000 or more regardless of payment method, or any transaction we judge to be unusual or higher risk.

• Government-issued photo ID (passport or national ID).
• Proof of address dated within the last 3 months.
• Where relevant, proof of source of funds (bank statement, sale contract, payslip).
• For corporate buyers: company registry extract and beneficial-ownership declaration.

We screen all customers against EU, UN, OFAC, and UK consolidated sanctions lists and PEP databases. Enhanced due diligence is applied where any match is found.

In line with Portuguese law, cash payments by residents are limited to €3,000 per transaction (€10,000 for non-resident individuals not acting as traders). Above these thresholds, only traceable payment methods (bank transfer, card) are accepted.

We retain CDD records for at least 7 years. Any transaction we suspect to involve the proceeds of crime, money laundering, or terrorism financing is reported to the Portuguese Financial Intelligence Unit (UIF) without notice to the customer, as required by law.

We reserve the right to decline or unwind any transaction where required identification is not provided, where source of funds cannot be evidenced, or where we have reasonable grounds for suspicion.