Know Your Business (KYB) is an essential process that financial institutions must undertake to comply with legal and regulatory requirements. It involves collecting and authenticating business details such as the legal name, address, registration number, and ownership information. This data is cross-referenced with reliable sources, ensuring compliance with regulatory standards and mitigating potential risks.
Basic documents list
The specific information Solidgate needs to collect varies by country and typically includes information listed below, though not limited to it.
Corporate documents in English
- Certificate of Incorporation/Company registration extract
- Certificates or registrar extracts showing current registered address, current director(s) and current shareholder(s)
- Memorandum & Articles of Association
- Proof of business address (e.g., office utility bill/office rent agreement - must be dated within the last 3 months)
Director
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Financial documents
- Bank letter or statement with the company’s information on it (EU - IBAN, SortCode and Account Number - the UK), currency, and date for settlement account
- TAX/VAT number
Additional documents
- Certificates or registrar extracts indicating the current shareholders of the entity if another legal entity holds more than 25% of the company.
- Corporate structure chart, certified by a director, UBO, or independent third party if the company has a complex or multilevel ownership structure.
- Copy of the license issued by an official authority if the business requires a license to operate.
- Bank statements for the last 3 months/audited financial statements/internal financial report if the company has been running for over a year.
- Domain Registration Proof if the information regarding the owner of a domain is concealed from the public.
- Test login credentials (full or premium access to the product) and product examples may be requested.
- Provide documents in full color. Black-and-white scans are not accepted.
- Ensure that documents are clear, valid, and uncropped, showing all four corners.
- Upload complete documents (i.e. proof of identity should clearly show facial features and any MRZ lines in full, both the front and back of a driver’s license or identity card should be provided).
- Make sure all documents are in English.
- If documents are not in English, get official translations and certifications to certify them as true translations of the original. The translation can be confirmed by a lawyer, notary, solicitor, or qualified chartered accountant. The official representative should add their name, address, and profession on the translated copy using a stamp or other means.
Basic documents across jurisdictions
In English:
- Certificate of Incorporation
- Certificate of directors
- Certificate of the registered office
- Certificate of Shareholders (must be dated within the last 3 months)
- Memorandum and Articles of Association
- Proof of business address (e.g., office utility bill, office rent agreement, invoice for rent - must be dated within the last 3 months)
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank letter or statement with the company’s information on it (EU - IBAN; SortCode and Account Number - the UK), currency, and date for settlement account.
- TAX/VAT number
- Certificate of incorporation (apostilled)
- Company Profile/Incumbency (apostilled, and must be dated within the last 6 months)
- Memorandum and Articles of Association (apostilled)
- Proof of business address (office utility bill, office rent agreement, and must be dated within the last 6 months)
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank letter or statement with the company’s information on it (EU - IBAN; SortCode and Account Number - the UK), currency, and date for settlement account.
- Tax letter (tax number)
- Certificate of Incorporation (or, depending on the state, Articles of Incorporation/Certificate of Formation, and should be stamped)
- Signed Bylaws/Operating agreement or an alternative
- Share certificate or Shareholder register
- EIN Proof: SS4 Form/Letter From IRS
- Proof of business address (e.g., utility bill/space or rental agreement)
- Proof of identity (e.g., passport/ID card/driver’s license)
- SSN card (if SSN Card states “VALID FOR WORK ONLY WITH DHS AUTHORIZATION” + employment authorization card)
- Proof of address (e.g. utility bill/bank statement/tax bill - must be dated within the last 2 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g. passport/ID card/driver’s license)
- Proof of address (e.g. utility bill/bank statement/tax bill - must be dated within the last 2 months)
- Tax number (SSN if available)
- A bank reference letter duly signed by a bank representative or a voided check.
- Settlement Bank Account statements for the last 3 months
- Prices should be in USD
- If the billing descriptor or Doing Business As (DBA) name differs from the name of the merchant, meaning it is not branded, it should be added to the payment page. If the descriptor is branded, adding it to the payment page is unnecessary.
For example, you can indicate “The charge will appear on your bill as _____”.
In English:
- Trade/Service License
- Memorandum of Association
- Extract of Registry showing current shareholders (or Shareholder certificate or Certificate of Incumbency)
- Proof of business address (e.g., office rent agreement, invoice for rent - must be dated within the last 3 months)
- Emirates ID card/passport
- UAE visa
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 2 months)
- Bank statement from either EU or UAE financial institutions, containing complete bank details (UAE company information, IBAN, currency, date)
- Tax Registration Number (TRN) document (if applicable)
- Certificate of Incorporation
- Memorandum and Articles of Association
- Proof of business address (office utility bill/office rent agreement/invoice for rent - must be dated within the last 3 months)
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank statement with complete bank details (company info, IBAN, currency, date)
- UTR/VAT number
In English:
- Extract from the register of entities (Lietuvos Respublikos juridinių asmenų registro išplėstinis išrašas) or Registration certificate (Registravimo pažymėjimas)
- Memorandum & Articles of Association
- Proof of business address (e.g., office utility bill/office rent agreement/invoice for rent - no older than 3 months)
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill (Komunalinių mokesčių sąskaita)/statement from a financial institution (Išrašas iš finansų institucijos)/letter issued from a government institution (Vyriausybės institucijos laiškas) - must be dated within the last 3 months.
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 2 months)
- Bank statement with full bank details (company info, IBAN, currency, date)
- TAX/VAT number (PVM mokėtojo registracija)
- Certificate of Incorporation
- Constitution
- Company printout (must be dated within the last 3 months)
- Register of Members and Share Ledger (must be dated within the last 3 months)
- Proof of business address (e.g., office utility bill/office rent agreement/invoice for rent - must be dated within the last 3 months)
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank statement with full bank details (company info, IBAN, currency, date)
- TAX/VAT number
- Commercial register extract (Äriregistri registrikaart)
- Memorandum and Articles of Association
- Proof of business address (office utility bill, office rent agreement, invoice for rent - must be dated within the last 3 months)
- Proof of identity (e.g., Pass (Passport)/Juhiluba (driver’s license)/ID-kaart (identity card))
- Proof of address (e.g., Kommunaalarve (utility bill)/Elukoha registreerimine (residence registration), Kontoväljavõte (bank statement) - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g., passport/ID card/driver’s license)
- Proof of address (e.g., utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank statement with full bank details (company info, IBAN, currency, date)
- Käibemaksukohustuslasena registreerimine (VAT registration) or Maksuandmete tõend (Tax certificate)
- Commercial register extract (Извлечение от Търговския регистър и регистъра на ЮЛНЦ)
- Incorporation Act (Учредителен Акт)
- Proof of business address (Сметка за комунални услуги (utility bill), office rent agreement, invoice for rent -must be dated within the last 3 months)
- Proof of identity (e.g. passport/ID card/driver’s license)
- Proof of address (e.g. Сметка за комунални услуги (utility bill)/Банково извлечение (bank statement)/ипотечно извлечение (mortgage statement) - must be dated within the last 3 months)
Ultimate Beneficial Owner (UBO) is a natural person who ultimately owns or controls the company through direct or indirect ownership of more than 25% of the shares or voting rights or ownership interest, or through control via other means.
- Proof of identity (e.g. passport/ID card/driver’s license)
- Proof of address (e.g. utility bill/bank statement/tax bill - must be dated within the last 3 months)
- Bank statement with full bank details (company info, IBAN, currency, date)
- VAT registration (Регистрация по ДДС)