For a 3-director company each with 33% shareholding buying property, how many checks would be needed?
One KYB on the company plus three KYCs on the directors as ultimate beneficial owners.
1 KYB + 3 KYCs - the company is the customer (one KYB), and each of the three directors is an ultimate beneficial owner (UBO) above the 25% threshold (three KYCs).
Costs by tier:
- Plan: Starter; KYB: $40; 3 × KYC: $60 ($20 × 3)
Total + GST: $100 + GST - Plan: Professional / Enterprise; KYB: $35; 3 × KYC: $45 ($15 × 3)
Total + GST: $80 + GST - Plan: Outsourced (Pro/Ent); KYB: $35; 3 × KYC: $60 ($15 × 3) + $50 matter fee
Total + GST: $130 + GST
Note on Outsourced Pricing. When easyAML's team handles the CDD end-to-end, the cost is $50 per matter + the tiers KYC + KYB pricing.
Where the number of checks could differ:
- A non-director shareholder above 25%. If one of the three directors also held no shares and a separate person held a 33% stake, that fourth person would be an additional KYC.
- A corporate shareholder. If one or more of the holdings were held through a holding company rather than directly by an individual, that's an additional KYB per holding company plus KYCs on its UBOs.
- A trust as shareholder. Triggers a trust KYB plus the trust's controlling persons - typically more KYCs.
Why the 25% threshold matters. AUSTRAC's beneficial-ownership rule attaches to natural persons who own or control 25% or more of the customer. Three 33% directors all qualify; the same company with eight 12.5% shareholders would require an unwrap of the actual control structure to identify the UBOs - pure shareholding alone wouldn't cross the threshold for any single person.
See "What does the easyAML KYC check include?" and Section 8 (Pricing) for the underlying detail.