At TruBit, we aim to make the Know Your Business (KYB) verification process seamless. There are three essential components to completing the verification:
Business Verification
Beneficiaries Verification
Transaction Profile Questionnaire
Below is a breakdown of what each step entails.
Business Verification
In the business verification step, you will need to provide several key documents that demonstrate your company’s legitimacy and compliance with local regulations. Before diving into the country-specific details, ensure you have the following:
Certificate of Incorporation: Proof that your company is legally registered in the country where it operates (applicable to Mexico, Argentina, Brazil, Peru, or Colombia).
Articles of Association: Documents outlining the structure and functioning of the company, including the shareholders' register.
Business License: Permission to operate within the corresponding jurisdiction.
Identity Documents of Directors and Beneficial Owners: Official IDs of the key individuals in your company.
Proof of Company Address: Utility bills such as electricity, water, or internet bills (the document must be dated within the last 3 months).
Proof of Address for Directors, Legal Representatives, and Beneficial Owners: Similar utility bills to verify residential addresses (the document must be dated within the last 3 months).
Tax Information: Documentation showing the company’s compliance with tax obligations.
Banking Information: Details of the company’s bank accounts, ensuring solvency and the legitimate origin of funds.
Power of Attorney: If applicable, a document authorizing a specific individual to act on behalf of the company.
Shareholder Registry and Beneficial Ownership: If your country does not provide an official document that outlines the shareholder structure and ultimate beneficial owners (UBOs), we require a document signed and dated by the legal representative, which includes all shareholders and UBOs. [Attachment: Example of Shareholder Registry Document]
Example of Shareholder Registry Document
Country-Specific Documents
Depending on the country, additional documents may be required, such as:
Articles of Incorporation and Registers
Bank Statements and Proof of Deposits
Tax Declarations
Proof of Address
Ensure that all documents are unedited, high-quality, and legible to facilitate a smooth verification process.
Company Documents:
[Comparison of Similar Documents Across Different Countries]
Beneficiaries Verification
In this step, we focus on verifying the Ultimate Beneficial Owners (UBO), the Legal Representative, and the Directors of your company. Below is a brief explanation of each role and the required documents:
Ultimate Beneficial Owner (UBO): Individuals (natural persons) who own, directly or indirectly, more than 25% of the company or otherwise exercise significant control over it (including all ultimate beneficial owners).
Required Documents: ID, Proof of Address (utility bill within the last 3 months).
Legal Representative: A person authorized by the company's bylaws or official documents to handle legal matters and operations.
Required Documents: ID, Proof of Address (utility bill within the last 3 months).
Directors: The company’s senior managing official responsible for overseeing operations and making high-level management decisions.
Required Documents: ID, Proof of Address (utility bill within the last 3 months), and Facial Recognition Verification.
Transaction Profile Questionnaire
This section of the verification focuses on understanding the Source of Funds. The source of funds refers to the origin of the financial resources used by the company. It is important to provide clear documentation to prove the legitimacy of these funds. Examples of acceptable documents include:
Bank statements showing transactions
Contracts or agreements related to business operations
Tax returns or declarations
Audited financial statements
Shareholder contributions and loans
By completing these three key steps, TruBit ensures the compliance and security of your company, allowing you to access our services seamlessly.
If you have questions regarding this information, please contact the TruBit Team via our chat channel or email us Here and we'll be in touch!