Customer Verification (KYC) Requirements for Merchant Onboarding: What Documents You Need to Provide

To comply with regulatory standards and safeguard the integrity of our platform, we perform Know Your Customer (KYC) checks for all businesses during the onboarding process.

In this article, you will find:

- The necessary documents for your business entity

- The documentation required from individual beneficial owners

- The terminology used for these documents in various countries

- Guidance on where to obtain these documents

 

Required Documentation for Your Company

To successfully verify your business, we need two essential documents:

 

1. Company Registration Certificate

This official document is issued by your country's corporate registry and serves as confirmation that your company is legally registered. It generally contains the following information:

- Company name

- Registration number

- Date of incorporation

- Legal structure (e.g., Pty Ltd, LLC)

2. Company Ownership / Shareholding Certificate

This document provides details about the ownership of your company, including the names of owners and their respective ownership percentages. It can take the form of a company extract, an annual return, a shareholder register, or any other official document issued by your corporate registry.

For Each Beneficial Owner (25% or More Ownership)

We must verify the identity and address of every individual who holds 25% or more of the company. To facilitate this process, please provide the following documentation for each qualifying individual:

 

1. A Valid Government-Issued Photo ID

Acceptable forms of ID include a passport, driver’s license, or national ID card. The ID must be clear, current, and issued by a recognized government authority.

2. Proof of Residential Address

This can be demonstrated through a recent utility bill, bank statement, or any government-issued document. The proof must be dated within the last three months and should clearly display the individual's name and residential address.

🌍 Country-Specific Guide

Here’s a table showing what these documents are called in different countries and where you can obtain them:

Note: If your country isn’t listed or you’re unsure which documents apply, feel free to contact us and we’ll be happy to assist.

How to Submit These Documents

You can upload your documents securely via our onboarding portal, or send them to your dedicated account manager. Please ensure all documents are:

• Clear and legible

• Recent and up to date

• In PDF or high-resolution image format (JPG, PNG)

Questions?

If you're unsure what to provide or need help obtaining these documents, don’t hesitate to reach out to us at onboard@kovena.com. Our team is here to support you through every step of the process.

 

Thank you for helping us maintain a secure, trusted, and compliant platform for all our partners.