Anti-Money Laundering Statement
We would like to notify you that as a result of new legislation implemented on 10 January 2020, the EU art market is now a regulated sector for anti-money laundering purposes. This regulation has been adopted by the UK and will be unaffected by Brexit. Similar legislation is likely to be introduced by the US and Switzerland in due course.
The new measures require all galleries across Europe to carry out identity checks on clients when selling any artwork with a value exceeding 10,000 EUR or equivalent. It applies to both new and existing clients from both within and outside the EU. These verification measures are similar to checks already carried out by banks, law firms and major auction houses.
Individual clients
If the artwork is being invoiced to an individual, we will require a copy of a valid photo identity document such as a passport, driving licence or national ID card which confirms their full name, nationality, date of birth and address.
Corporate clients
If the artwork is being invoiced to a company, we will require evidence of the company's incorporation, directors and details of the ultimate beneficial owner/s.
Agents and advisors
For agents or advisors acting on behalf of a buyer, we will also be required to carry out the mandatory checks on the ultimate beneficial owner.
Payment
The gallery will only be able to receive funds from the bank account held in the name of the person or entity named on the invoice. Requests for payment by a third party are subject to our prior authorisation and will only be accepted once we satisfactorily complete our due diligence procedures on the third party.
Data retention
Under the new regulation, we are also required to store records of the data collected for 5 years. Please rest assured that your data will be stored and processed in accordance with our website privacy policy and will remain secure and confidential at all times.
Bartha Contemporary Ltd · 7 Ledbury Mews North, Notting Hill, London W11 2AF
Registered in England & Wales, Company No. 07863410 · VAT ID: GB 798 9421 55