Why do I need to verify my identity with SongVest to invest?
In order to invest in SongShares, you must verify your identity. Identity verification is a standard practice as part of Anti-Money Laundering (AML) and Know-Your-Customer (KYC) requirements. AML and KYC refer to due diligence activities that regulated financial institutions like SongVest must perform for compliance purposes and fraud checks. SongVest uses third party service providers to validate your identity and confirm you are not prevented from investing due to federal prohibitions.
You will be asked to provide personal identification information which may include your social security number (SSN) and a valid photo I.D. Some investors may be required to provide a passport.
Please note, we take the security of your information very seriously.
What documentation do I need to provide in order to sell my royalties?
To have your royalty stream listed on SongVest, you will need to provide us with the following information: What you’d like to sell (i.e. for music: songwriter’s share of performance royalties, mechanical royalties, production royalties, etc.) The ...
Can I invest if I am outside the US?
We do accept international investors, so you can register as an individual or a company to participate in our website now. Due to SEC regulations we will need a copy of passport for international investors.
What kind of background check does SongVest conduct related to my royalties?
SongVest has a simple verification process for sellers. There are no credit checks, and we only require the past 2-3 years of your item’s royalty statements, including the last statement available, to ensure that there is no encumbrance on payments.
What charges can I expect if I sell my royalties through SongVest?
One of the great things about SongVest is that there is no charge to list an auction on our platform, so you’ve got nothing to lose! We only collect a percentage when the sale actually happens.
I receive some of my royalties through SOCAN. Am I able to sell with SongVest?
SOCAN has a policy that does not allow us to sell royalties at this time, we hope this will change in the future.