South African Property

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FICA document checklist for estate agents

The documents South African estate agencies commonly ask buyers and sellers for under the Financial Intelligence Centre Act (FICA). Tick them off as they come in.

Client: ______________________________Property: ______________________________Agent: ____________________

Individuals (South African citizens and residents)

  • Green barcoded ID book, smart ID card or valid passport
  • Proof of residential address, usually not older than 3 months (utility bill, bank statement, municipal account or lease)
  • SARS income tax reference number
  • Contact details: cellphone number and email address

Married people

  • Marriage certificate
  • Antenuptial contract, if married out of community of property
  • If married in community of property: both spouses' ID and proof of address, as both usually need to sign

Foreign nationals

  • Valid passport (and visa or permit where applicable)
  • Proof of residential address
  • Source of funds for the purchase, e.g. a bank letter

Companies (Pty) Ltd

  • CIPC registration documents (e.g. CoR14.3)
  • Resolution authorising the person signing on the company's behalf
  • ID and proof of address of each director and of the authorised signatory
  • Beneficial ownership details: everyone who owns or controls 25% or more
  • Proof of the company's business address and its tax number

Close corporations (CC)

  • CK1 / CK2 founding statements
  • Resolution of members authorising the signatory
  • ID and proof of address of each member

Trusts

  • Letters of Authority from the Master of the High Court
  • Trust deed (and any amendments)
  • Trustees' resolution authorising the transaction and the signatory
  • ID and proof of address of every trustee
  • Details of the founder and beneficiaries

Deceased estates

  • Letters of Executorship
  • ID and proof of address of the executor
  • Death certificate

For every client, the agency also

  • Screens the client against the UN targeted financial sanctions list
  • Asks about the source of funds where the risk is higher (e.g. large cash payments)
  • Keeps the records for at least 5 years after the transaction

A general guide, not legal advice. Estate agencies are accountable institutions under FICA, and your agency's own Risk Management and Compliance Programme (RMCP) sets exactly what you collect and when. Check it with your compliance officer.

Free checklist from ErfFind · erffind.co.za/toolkit

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