Account verification help for subsidiary companies
We have come up against a stumbling block trying to sell on Amazon.
We would like to use FBA as a route into E-commerce.
However, we can’t verify our selling account without all the relevant documentation about our shareholders (our parent company).
They are willing to share some but not all of the documentation that we require.
I’ve contacted Amazon a couple of times but ultimately have been told that the account can’t be verified without it.
I don’t believe that we are the only people trying to sell on Amazon in this situation.
I’m just wondering if anybody has been in this situation and how they resolved it?
The verification is the only thing stopping us from selling on Amazon at the moment. We have listing ready and did have some stock in the Amazon warehouse but it has since been sent back because of this issue.
0 replies
Seller_lljyzgTxr5fgI
Then you’re stuffed, it’s as simple as that. Shareholder information is required by law (not just by Amazon) so that all the beneficial owners of a company are identified. If your parent company (shareholders) are not willing to share that information to enable verfication on Amazon then they’ve got something they don’t want anybody to know?
Just a brief search and Magnet Schultz are “world leaders” in actuator technology, been going 50 years, net assets of £2.5 million in 2022. Not an insignificant company. Not sure why anybody would want to withold documentation other than to keep something private.
Seller_ejwc84JNL5Uk6
You can’t get round it - it’s a legal requirement that Amazon are legally required to abide by under money laundering regs. If the business owners refuse to supply the info then they can’t sell on Amazon.
