During the second step of your KYC process, you need to define the business structure of your company.
Individual entrepreneurship, proprietorship, Sole Trader or Freelancer, type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the delivery of their products/services.
REGISTERED COMPANY/BUSINESS (SINGLE OWNER)
Legal entity with a single owner that holds more than 75% of the share of the company.
REGISTERED COMPANY/BUSINESS (MULTIPLE OWNERS)
The legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. There is no shareholder that has more than 51% share of the company.
NON PROFIT ORGANIZATION
Businesses with tax-exempt status due to its social cause and provision of a public benefit (e.g. NPOs, municipalities, government entities).