Invalid documents. What to do with it and how do you upload a new document?
By law, we have to verify the identity of every investor on Investown. Therefore, you must also go through identity verification as part of the registration process and upload your valid identity document. How do you record it, what do you have to do when your documents expire and what happens to your investments afterwards?
The identity verification rules serve primarily to protect you and represent the conditions that we, as a licensed entity, must Czech National Bank Mandatorily comply.
INVESTOWN is the so-called. AML by a mandatory person (Section 2 (1) (b) point 7 according to Act No. 253/2008 Coll., Act on Certain Measures Against Legalization of Proceeds of Crime and Terrorist Financing). Our responsibility is to carry out identification, verification and control of both the Platform User and the Project Owner. Similar obligations also have other AML obligated persons such as banks, insurance companies, investment companies, notaries, lawyers, tax advisors, auditors, etc. More information about AML compulsory person can be found in Frequently Asked Questions.
Verification of identity at registration
After registering with the Investown app, we will prompt you to verify your identity. This protects users of the platform, but also other users; we comply with a legal obligation and protect against possible legalization of proceeds from crime. During verification, we will ask you to take a photo of your identity document (usually an ID card and passport) and then your face.
Verification of your identity takes place through specialized, sophisticated VERIFF software designed for these purposes, and the whole process is as comfortable, secure and protected as possible. Thanks to this, your data will be completely safe.
Uploading a new identity document
Unfortunately, without a valid identity document, you cannot invest in new projects. Once your document expires, we invite you to upload a new. This can happen even if you are just checking yourself out. After all, the system may misevaluate or not read the expiration date of your document.
When prompted, log into the Investown web or mobile app and click on the “Verify Identity” option. We will guide you through the whole process step by step, it will only take you a minute. After uploading a new document and verifying your identity, you will be able to invest again.
TIP: You can upload a new identity document to your profile in advance. Even two months in advance. This will allow you to invest in every new interesting project we add on Investown.
What will happen to your investments?
As soon as your ID card expires, all the investments you already have on Investown will of course remain in your portfolio. It will not be possible to invest in new ones. If you want to increase your savings in the future, we recommend that you upload new documents to your profile in time. This way you will not lose any interesting investment according to your preferences
Even after the documents expire, you can sell your investments on the Marketplace and you can also withdraw money from the Investown wallet.
(This article does not constitute investment advice and is for informational purposes only.)
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