Identity Check for Dealers on Chrono24

December 3, 2024

Identity verification, also known as KYC (Know Your Customer) or KYB (Know Your Business), is critical to the security and trustworthiness of any online marketplace, especially for high-value items like luxury watches. This is a regulatory requirement that makes it necessary to verify the identity and the business documents of the dealers on Chrono24. The goal is the prevention of crimes like money laundering and the financing of terrorism.

  • Key Questions & Answers:

What is the KYC process?

The Know Your Customer (KYC) process is the verification of the identity of professional dealers on our marketplace. For legal entities, this includes verifying the identity of a business’ legal representative and proving the registration and incorporation of the company through various documents and information.

What documents are required?

Requirements vary depending on the dealer’s country of registration and the legal form of their business. Detailed information about the documents that are accepted for different countries can be found here. For professional dealers, the following documents are required:

  • Proof of the identity of the legal representative
  • Proof of company registration
  • Articles of incorporation
  • Information on beneficial owners

What do I need to keep in mind when submitting the required documents?

Depending on your nationality, the following types of documents are acceptable:

  • Within the EEA (European Economic Area): Passport, national identity card, or driver’s license
  • For non-EEA citizens living in the EEA, a residence permit will suffice.
  • Outside the EEA: Passport or driver’s license (USA, UK, and Canada only)

For a detailed overview of accepted proofs of identity, click here.

Please note the following when making copies of your documents for verification:

  • The document must be photographed, not scanned.
  • Both the front and back of the document must be uploaded.
  • No information may be blacked out or made illegible.
  • All corners and edges of the document must be visible.
  • There must not be any glare or reflection.

Please note that Mangopay accepts proof of registration and articles of incorporation in the following languages only:

  • Dutch
  • English
  • French
  • German
  • Italian
  • Portuguese
  • Spanish

If a document is not written in one of these languages, a certified translation into English or French is required. The translation must include the signature of a government-certified translator. Both the translation and the original document must be submitted together. This page provides a detailed overview of the documents required for verification, sorted by legal user type and country of registration. To overview

How do I submit the required documents?

Already registered as a dealer on Chrono24? If so, you can upload the documents in your Market Portal. Simply log into your Market Portal and follow the blue instructions.

Open Market Portal

What happens if I don't upload the documents?

If you’re registering as a dealer on Chrono24 for the first time, you will be required to upload the necessary documents as part of the registration process. This is the only way to create and activate your account. If you’re already registered as a dealer, and are asked to resubmit your documents but fail to do so, we may place restrictions on your account. As a result, you will not receive any payouts for transactions made on our platform. In addition, the successful verification of your identity is part of our criteria for becoming a Trusted Seller. If you do not provide all required documentation, you risk losing your Trusted Seller status.

Have questions or need assistance? Please reach out to your personal contact or send an email to KYC@chrono24.com.

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