Documentation and audit trail
In particular the identification of the parties and the beneficial owner, the basis of the risk assessment, and the results of any analysis carried out — and, where risk requires it, the information obtained and the evidence examined on the origin of the funds or wealth. An enhanced source-of-funds check is not prescribed to the same extent for every transaction.
The duty goes well beyond a copy of the identity document. In principle everything received or produced in the course of due diligence must be retained: identification records, client declarations, contractual documentation, and the results of any analysis carried out.
The implementing regulation sets this out at two levels:
A documented rationale for significant risk assessments is not a literal requirement in every single case, but substantially eases traceability later on.
Legal basis: Ley 10/2010, Art. 25; Real Decreto 304/2014, Art. 28–29
Practical tip: "Reviewed, no issues" is the most common file entry and the least useful one. It records the outcome, not the check — and the check is exactly what an inspection asks about years later.
AI-assisted tools were used in preparing these FAQs; the content was subsequently reviewed and approved by the Doxario editorial team. They reflect the general state of the law as at the review date shown and do not constitute individual legal or tax advice. To assess your own case — particularly where complex structures are involved (offshore companies, trusts, foundations, communities of heirs) or where the new EU rules leave room for doubt — we recommend consulting a lawyer specialising in Spanish anti-money-laundering law and, on tax questions, a tax adviser. Doxario is a deal management and compliance platform for estate agents in Spain, operated by Blue Pepper S.L.; we therefore have an economic interest in the solutions described in these FAQs. Doxario accepts no liability for decisions taken solely on the basis of these FAQs.
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