Due Diligence Checks

All businesses joining the Nexus community are asked to complete customer due diligence checks. This is a legal requirement under UK anti-money laundering legislation, and helps us ensure our community operates safely and securely.

As a registered Trust or Company Service Provider (TCSP), Nexus is required by law to carry out these checks for all members.

Completing these checks is a simple step needed to activate your membership and get full access to the community. For further information about our legal responsibilities, please visit the GOV.UK website or email [email protected].

Our due diligence checks need to be completed by all beneficial owners of the business. A beneficial owner is anyone who owns more than 25% of the company.

If your business has no beneficial owners, two company directors will need to complete the checks instead. In this case, we’ll also need a quick confirmation of who ultimately owns the business, which could be an investor.

The due diligence checks involve a two stage process

Stage 1 – Your info and ID

We will email each beneficial owner and ask for:

• Full legal name (include middle names)
• Date of birth
• Email address
• Mobile number
• Home address
• A clear photo of a valid ID (passport or driving license)

This lets us run an ID and business check using our third-party provider, Smart Search.

Special cases:

• If your business is outside the UK, you only need to provide name, date of birth, email, and photo ID.
• If there’s only one beneficial owner (25%+ of shares), we also need a second person, usually a director, to complete an ID check.

Stage 2 – membership agreement

After Stage 1 is done for all required people, you’ll get your agreement by email.

• Sign it digitally using Adobe Sign.
• It expires in 7 days.

Important: We cannot create your agreement until Stage 1 is complete for everyone required.

Yes – all businesses joining the Nexus community are required to complete our due diligence checks, regardless of location. This is part of our legal responsibilities under UK anti-money laundering legislation.

The whole process usually takes about one week.

Once your checks are complete, the Nexus team will let you know, and you’ll receive your membership agreement via Adobe Sign. Don’t worry, you’ll have seven days to review and sign it once it arrives.

The most common reason a check fails is due to poor quality photos. Please ensure that any ID photos you provide are clear, not blurry, and don’t include a flash or shadow, and show all four corners

Another frequent issue is incomplete names. Make sure you and your colleagues provide your full legal names when completing the checks.

Following these tips will usually prevent any delays.

If a check doesn’t pass initially, don’t worry, we’ll carry out a little extra due diligence to make sure everything is in order.

A member of the Nexus team will get in touch directly with clear instructions if anything else is needed. This usually resolves issues quickly and rarely causes delays.

Yes, all UK businesses registered as a Trust or Company Service Provider (TCSP) are legally required to carry out due diligence checks.

For more details, please refer to the information provided above.

All personal and business data is stored securely and handled in line with our data protection policy.

We take your privacy seriously, and only use your information to complete the due diligence process and manage your membership.

If you have any questions or want more details, please email [email protected].