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1. Business Documents (KYB)

To verify a business entity, specific documents are mandatory. Please ensure you provide the correct document types as listed below.

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Mandatory Requirements

The following documents are explicitly required for all business verifications:
Document TypeCodeDescription
EIN LetterEIN_LETTEROfficial IRS letter assigning the Employer Identification Number.
Certificate of Good StandingCERTIFICATE_OF_GOOD_STANDINGOfficial document proving the business is authorized to do business.
Shareholder RegistrySHAREHOLDER_REGISTRYNew Requirement: A current list of all shareholders and their ownership percentages.
Terms of ServiceTERMS_OF_SERVICENew Requirement: The company’s terms of service or user agreement.

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Conditional “One-Of” Requirements

In addition to the mandatory documents, you must provide one document from each of the following categories: Financial Proof (Provide one):
  • PROOF_OF_FUNDS
  • BANK_STATEMENT
Registration (Provide one):
  • CERTIFICATE_OF_REGISTRATION
  • CERTIFICATE_OF_INCORPORATION

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2. Control Person Documents (KYC)

Verification is required for each control person associated with the business.

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Identity Verification

Each control person must submit at least one of the following valid identity documents:
  • NATIONAL_ID
  • PASSPORT
  • GHANA_CARD
  • DRIVER_LICENSE

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Role-Based Requirements

Additional documentation and verification steps may be required based on the control person’s specific role. Authorized Representatives: If a control person is designated with the role AUTHORIZED_REPRESENTATIVE, the following additional requirements apply:
  1. Proof of Address: They MUST provide a PROOF_OF_ADDRESS document.
  2. Liveness Check: A liveness check is required to verify the physical presence of the authorized representative.
Both the PROOF_OF_ADDRESS and the Liveness Check are required in addition to the standard identity document for Authorized Representatives.

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3. Non-US Onboarding Requirements

For businesses and control persons based outside the United States, specific additional information is required to ensure compliance with international regulations.

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Business Requirements

  • US Bank Account Status: You must declare whether the business has an existing US bank account.
    • If No: You must disclose if the business has ever been denied a US bank account (deniedUsBankAccount). If yes, an explanation is required.
  • Audit History:
    • Business: Must disclose any history of tax audits, regulatory sanctions, or law enforcement actions (businessAuditHistory). If yes, an explanation is required.
    • Owners: Must disclose any personal audit or sanction history for owners, directors, or officers (ownersAuditHistory). If yes, an explanation is required.
  • PEP Involvement: Must disclose if any owner, director, or officer is a Politically Exposed Person (PEP) (pepInvolved). If yes, detailed explanation is required.

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Control Person Requirements

  • Tax Residency: The taxResidencyCountry field is mandatory for all non-US control persons.
  • SSN Restrictions: Non-US control persons must not provide a Social Security Number (SSN).
  • Immigration Status: The immigrationStatus field must not be populated for non-US control persons.
Ensure that all country codes provided (e.g., for taxResidencyCountry, nationality) are valid ISO 3166-1 alpha-3 codes (e.g., GBR, FRA, DEU).