Does POCA 2007 require notarisation of a customer information form completed for a realtor in Jamaica?

No, POCAPOCA, or the Proceeds of Crime Act, is a critical piece of legislation in Jamaica designed to combat money laundering an... More 2007 (The Proceeds of Crime Act, JamaicaJamaica, with its vibrant culture and stunning landscapes, has a unique position in the global real estate market. The i... More) does not specifically require notarisation of a customer information form for real estateReal estate refers to property consisting of land and the structures on it, such as buildings and homes. It also include... More transactions in Jamaica.

Here’s what POCA 2007 does require:

POCA and its accompanying regulations (especially the Proceeds of Crime (Money LaunderingIn Jamaica, money laundering involves making illegally earned money look as if it comes from legitimate sources. This pr... More Prevention) Regulations) require that real estateIn Jamaican real estate, an estate refers to the total collection of assets and property owned by an individual, especia... More professionals:

• Know Your Customer (KYCKYC, or Know Your Customer, in the context of Jamaican real estate, is a crucial process designed to verify the identity... More): Collect identificationIdentification is how people prove who they are, usually by showing a document like a passport, driver’s license, or n... More and verify clients’ identity.
• Customer Due Diligence (CDD): Assess riskA risk is the possibility of an adverse outcome or loss arising from uncertainty or potential hazards. It represents the... More, including politically exposed persons (PEPs).
• Recordkeeping: Keep copies of ID, proof of addressProof of Address is a key document in Jamaican real estate transactions, serving to verify the residential address of an... More, and transaction details.
• Reporting: Submit suspicious transaction reports (STRs) where needed.

So why is notarisation mentioned?

In practice, notarisation is not a POCA requirement for regular customers. However, notarisation is often required when:

• A third party (like an agentIn Jamaica, an agent is a real estate professional who handles various aspects of buying and selling properties. Their r... More or representative) is completing the form on the customer’s behalf
• The customer is overseas
• There’s a Power of AttorneyIn Jamaica, a power of attorney for property lets one person (the attorney) manage another person's property (the princi... More involved
• There is need to confirm authenticity of the documents submitted remotely

This aligns with the internal compliance policies of brokersBrokers are licensed professionals who help connect buyers and sellers in various markets, most commonly in real estate.... More and boards like the Real Estate BoardThe Real Estate Board of Jamaica regulates the property market by enforcing the Real Estate (Licensing) Act, which manda... More of Jamaica (which regulates the industry).

What the form requires (based on your image):

At the end of the form, it says:

“NB: The following documents are required for processing of your transaction:

• Power of AttorneyIn Jamaica, an attorney is a legal professional who provides expert advice, representation, and services related to vari... More or a letter duly notarised (where application submitted by an agent).”

So, notarisation is only required in specific cases — not universally for every clientIn real estate, a client is anyone seeking help to buy, sell, or invest in property. In Jamaica, clients might be lookin... More.

Summary

• No, POCA 2007 does not require notarisation of the customer information form for all clients.
• Yes, notarisation may be required by brokerIn the real estate world, brokers are essential intermediaries who help buyers and sellers navigate property transaction... More policyIn Jamaica, a policy represents a guiding principle or course of action adopted by governmental bodies, organizations, o... More, especially if:
  • Someone else is acting on the client’s behalf
  • The client is overseas
  • A power of attorney is being used

DisclaimerA disclaimer is a statement that serves to limit or exclude liability, usually found in legal documents, websites, produ... More: This article is for informational purposes only and does not constitute legal or financial advice. Please note: Jamaica Homes is not authorized to offer financial advice. The information provided is not financial advice and should not be relied upon for financial decisions. Consult a regulated mortgage adviser for guidance.