To start with your KYC profile, please keep in mind:
- All necessary documentation can be in English, Spanish, Portuguese, Italian, French, German or officially translated to English.
- No screenshots of screen pictures will be accepted as valid documentation.
- Personal documentation needs to be readable in good quality and not expired.
- Accepted proof of documents are Passport, Resident ID, regular ID or driver’s license.
- Bank statements need to be less than 3 months old.
- Proof of address to be accepted needs to be utility bills such as water, gas or energy and governmental letters all issued in less than 12 months.
- Mobile phone bills, regular invoices (landline) will not be accepted.
- The same document can’t be used twice in the same field due to compliance regulations.
Sole Trader:
You will need to provide the following information requested on the online form:
- Legal Name: The legal name of the person/sole trader
- Trading Name: if the name of the business is different than the company’s legal name/registered.
- Business structure: sole trader
- Sole trader or tax Id: You need to provide your sole trader registration number here, if you don’t have one please fill in the VAT section.
- VAT Number ( if required)
- Type of service
- Business website
- Business address
- Website: if you have other websites where you are selling your services or products.
- Business description: a brief description of your company and the services provided
- Representative information: The representative is the person authorized to operate the Payyo account on the company’s behalf. You need to provide information such as the name of the person who owns the bank account, Date of Birth, Email address and Address information
Documents:
- Proof of Identity
- Proof of address
- Sole trader number or tax ID
- Bank statement
Registered Company
The difference between Registered business and single owner registered business is in the first one the information about the beneficial owners will be required and all the IDs of the owners involved.
You will need to provide the following information requested on the online form:
- Legal Name: The legal name of the company
- Trading Name: if the name of the business different than the company’s legal name/registered
- Business structure: Registered company
- Company registration number: A registration number is issued by the Revenue office/tax office in each country when a non-natural person registers for tax. It is subsequently used by the revenue commissioners to identify those taxpayers/entities.
- VAT Number
- Type of service you offer
- Business website: URL to the website where you are selling your services or products
- Website: URL to the website related to the business
- Business Description: a brief description of your company and the services provided
- Business Address: Information about your business address, such as Address, ZIP/Postal Code, City, Country
- Representative information: The representative is the person authorized to operate the Payyo account on the company’s behalf. You need to provide information such as the name of the person who owns the bank account, Date of Birth, Email address and Address information.
As we mentioned above, the information about the beneficial owner is required if there is a person that owns or controls more than 25% of the shares of the company.
- Beneficial Owners: In this space, you can add the business owner, who owns a significant percentage of your company (often 25% or more) and/or Exercise significant control over your company. Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
The information you need to fill up here is % of shares, name, date of birth and attached an identification document.
Documents:
- Proof of identity (the person charged for the account)
- Proof of business registration
- Proof of business address
- Bank Statement
- Letter of authorization (in case of charged person’s name is not on the business registration document)
- Declaration of Beneficial ownership
