Premier’s businesses are low risk in the context of UK legislation:
None of its businesses are classified as “High Value Dealers” (businesses that accept cash payments for goods worth 15,000 euros or more either in a single transaction or in instalments are considered to be “High Value Dealers” under the legislation); and.
The nature of its business does not require registration with a supervisory body, such as HMRC, the FSA, the Office of Fair Trading or the Gambling Commission.
Premier’s ownership does though require a higher level of anti money laundering compliance.
Premier Marinas Limited is ultimately controlled by a UK Financial Institution which requires that Premier adopts a level of compliance similar to that required of a financial services business.
In this context, the key risk areas are considered to be property rents or berthing contracts for periods of one year or more. The extent to which anti money laundering procedures apply is determined by both the nature of the transaction concerned and/or its value.
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