Detailed explanation and FAQs on Amazon Europe KYC review

KYC review overview

KYC (Know Your Customer) review is the process of confirming and filing the identity of the Amazon account holder, aiming to comply with the relevant requirements of the EU’s Anti-Money Laundering Law. This process applies to sellers setting up stores in EU sites such as the UK (even though the UK officially left the EU in 2020), Germany, France, Italy and Spain. Passing KYC review is a prerequisite to ensure that sellers can legally and compliantly sell goods in the above markets.

Audit trigger conditions

According to Amazon’s regulations, when a seller’s sales on the European site reach 5,000 euros or more or the backend information is changed, a KYC review may be triggered. It should be noted that if the seller fails to participate in the KYC review in time, once the sales reaches 15,000 euros, the seller will lose the sales authority.

Preparation of review materials

In order to successfully pass the KYC review, sellers need to prepare a series of documents, including but not limited to:

• Company Business License: Provide the original or scanned copy of the company’s business license (individual sellers do not need to provide it).
• Identification documents: Scanned copies of passports or front and back of ID cards of the company’s main contact persons and each natural person or legal representative holding 25% or more of the company’s shares, as well as their household registers. Scanned page.
• Personal expense bills: Bills for water, electricity, gas, television, mobile phones, etc. or personal credit card bills generated within the last 90 days. The bill must contain your name and detailed residential address.
• Company daily expense bill: It is also required to be a bill within the last 90 days, showing the company name and address.
• Corporate bank statement: including account opening license or corporate bank statement.
• Collection account: It is recommended to use the company’s public account or the personal account of the company’s beneficiary.
• Authorization letter: If the main contact person is not the legal person or beneficiary of the company, an authorization letter is required.
• Supplementary materials: Such as notarized documents of relevant materials, personal/company bank account comprehensive information inquiry voucher, etc.

FAQ

Will product sales be affected?

During the KYC review period, products can still be sold normally.

What are the legal representative billing requirements?

The name and address on the legal representative’s bill must be consistent with the information filled in when registering. It is not mandatory to use the company’s registered address.

How to deal with account changes?

The credit card used during registration and the one used during KYC verification can be different, as long as they are both in the name of the legal representative.

Preparation suggestions

It is recommended that sellers start preparing the documents required for KYC review at the early stage of account registration to avoid sales interruption due to temporary preparations due to sales reaching the target.

The above information summarizes the basic process and precautions for KYC review to help sellers better understand and respond to the review requirements of Amazon Europe.