KYB document requirements by country

Updated

Who this is for: Reap clients who want to close their Reap Direct account

What this article covers: Eligibility requirements, what to prepare, how to submit a closure request, and what to expect during the process.

Overview

KYB (Know Your Business) is a verification process required for all Reap Direct and Reap Card accounts. Reap uses it to confirm the legal identity of your business and the people behind it before your account can be approved.

The exact documents required depend on your country of incorporation and entity type. Reap may also request additional documents based on the risk profile of your business.

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What is KYB?

KYB stands for Know Your Business. It is a mandatory verification process for all Reap Direct and Reap Card accounts. Reap uses this process to confirm the legal identity of your business and the individuals behind it before activating your account.

Document requirements vary by country and entity type. In some cases, Reap may request additional documentation based on your business's risk profile.

How to submit your documents

You do not need to upload documents upfront. The process works as follows:

  1. Submit your initial application.
  2. Reap's compliance team will send you a Request for Information (RFI) email listing the specific documents required for your business.
  3. Review the document list in the email carefully.
  4. Upload the requested documents through the secure link provided, or reply using the method specified in the email.
  5. Ensure all documents are current, legible, and submitted in PDF or image format.
  6. If any documents are not in English, include a certified English translation.

We recommend reviewing the sections below to prepare your documents before the RFI arrives. This helps avoid delays in processing your application.

Document type glossary

The table below explains the standard document types requested across all countries.

Document type What it means
Proof of Identity (POI) Valid passport (preferred), or national ID card (front and back). Hong Kong residents may use HKID. Singapore citizens may use NRIC.
Proof of Address Bank statement or government-issued document showing your residential address, issued within the last 3 months.
Certificate of Incorporation Official document proving the legal existence of the company, issued by the relevant Companies Registry or government authority.
Business Registration Certificate (BRC) Separate from incorporation. Certifies the right to operate. In some jurisdictions (e.g. Hong Kong) it requires annual renewal.
Memorandum and Articles of Association (M&AA) The company's constitutional documents setting out its purpose, share structure, and governance rules.
Ownership Structure / UBO Chart A chart showing all shareholders up to the natural person level. Must be dated and signed by a director, and include a declaration on whether bearer shares exist.
Certificate of Incumbency Required for offshore jurisdictions only. Issued by a competent authority listing current directors and shareholders. Must be issued within 6 months.

Documents by jurisdiction

🌏 Asia-Pacific

🇭🇰 Hong Kong

Corporation

  • Certificate of Incorporation — issued by the Companies Registry (CR)
  • Business Registration Certificate — issued by the Inland Revenue Department (IRD); requires annual renewal
  • Annual Return:
    • Incorporated less than 1 year: NNC1 (Notice of Incorporation)
    • Incorporated more than 1 year: NAR1 (Annual Return)
  • Articles of Association
  • Ownership structure up to UBO level — dated and signed by a director, with a declaration on bearer shares

Sole Proprietorship

  • Business Registration Certificate (BRC) — from the IRD
  • Sole Proprietorship Registration or BRC with owner details

Trust

  • Trust Deed — identifies the settlor, trustees, and beneficiaries, and outlines the management and ownership structure

General Partnership

  • Business Registration Certificate
  • Certified Extract from the BR Record — lists partners as registered with the Business Registration Office
  • Partnership Agreement — outlines terms, roles, and capital contributions

Limited Partnership

  • Certificate of Registration of Limited Partnership
  • Business Registration Certificate
  • Limited Partnership Agreement — specifies roles of general and limited partners
  • Form LP4 — filed when there are changes in the partnership's registered particulars

🇱🇰 Sri Lanka

Corporation

  • Certificate of Incorporation — from the Registrar of Companies
  • Business Registration Certificate — from the Registrar of Companies
  • Articles of Association and Memorandum of Association
  • List of Directors and Shareholders (with identification details)
  • Director's Consent Form (Form 18)
  • Shareholder Agreement
  • Tax Identification Number (TIN)
  • EDB Certification (if engaged in export activities)
  • Ownership structure up to UBO level — dated and signed by a director, with bearer share declaration

Sole Proprietorship

  • Business Registration Certificate
  • Tax Identification Number (TIN)
  • EDB Certification (if applicable)

🇮🇩 Indonesia

Corporation (PT — Perseroan Terbatas)

  • Deed of Establishment — the founding document of a PT, notarized
  • Approval from the Ministry of Law and Human Rights — confirms legal entity status
  • Business Identification Number (NIB) — replaces older licences under the OSS system
  • Tax Identification Number (NPWP) — Nomor Pokok Wajib Pajak
  • Company Domicile Certificate
  • Business Licence (SIUP) and Certificate of Company Registration (TDP) (if still applicable)
  • Ownership structure up to UBO level — dated and signed by a director, with bearer share declaration

Sole Proprietorship (UD — Usaha Dagang)

  • Business Licence (SIUP)
  • Tax Identification Number (NPWP)
  • Business Identification Number (NIB)
  • Company Domicile Certificate
🌍 Europe

🇬🇧 United Kingdom

Corporation

  • Certificate of Incorporation — from Companies House
  • Articles of Association
  • Latest Confirmation Statement (CS01) — annual filing confirming company details
  • Register of Directors and Shareholders
  • Business Registration Certificate (if applicable, for regulated activities)

Sole Trader

  • Proof of Registration with HMRC — e.g. UTR (Unique Taxpayer Reference) letter
  • Self-Assessment Tax Return

🇵🇱 Poland

LLC / Corporation (Sp. z o.o.)

  • Certificate of Incorporation (KRS entry) — KRS = National Court Register
  • Articles of Association
  • Extract from the National Court Register (KRS) — identifies current directors, shareholders, and key management

Sole Proprietorship (Jednoosobowa działalność gospodarcza)

  • CEIDG Entry — Central Registration and Information on Business
  • NIP — Tax Identification Number (Numer Identyfikacji Podatkowej)
🌎 North America

🇺🇸 United States

LLC

  • Certificate of Formation — filed with the Secretary of State in the state of formation
  • Operating Agreement — internal governance document
  • EIN Confirmation Letter — Employer Identification Number, issued by the IRS (CP 575 or 147C letter)
  • DBA Registration (if applicable)

Corporation

  • Certificate of Incorporation and Articles of Incorporation — filed with the Secretary of State
  • Bylaws — internal rules of governance
  • EIN Confirmation Letter — from the IRS
  • Ownership structure up to UBO level — dated and signed by a director, with bearer share declaration
🌎 Latin America

🇲🇽 Mexico

LLC / Corporation (S.A. de C.V.)

  • Acta Constitutiva — Articles of Incorporation; the founding deed of the company
  • Registro Público de Comercio entry — Public Commercial Registry
  • Recent extract from the Public Commercial Registry
  • Power of Attorney (if applicable)

Sole Proprietorship (Persona Física con Actividad Empresarial)

  • RFC — Registro Federal de Contribuyentes (Tax Identification Number)
  • Registro Público de Comercio (if applicable)

🇧🇷 Brazil

LLC / Corporation (LTDA — Sociedade Limitada)

  • Articles of Association (Contrato Social) — with all amendments if applicable
  • Business Licence (Alvará de Funcionamento) — municipal operating permit
  • Registration with the Junta Comercial — the Board of Trade for the relevant state

Sole Proprietorship (MEI — Microempreendedor Individual)

  • MEI Registration — includes CNPJ and NIRE (business identification number)
  • Business Licence (Alvará de Funcionamento)
🌍 Middle East

🇦🇪 United Arab Emirates (UAE)

Corporation

  • Certificate of Incorporation
  • Trade Licence — issued by the relevant emirate's Department of Economic Development (DED), or the relevant Free Zone authority
  • Memorandum of Association
  • Shareholder Resolution
  • Register of Directors and Shareholders
  • Ownership structure up to UBO level — dated and signed by a director, with bearer share declaration
🌍 Africa

🇳🇬 Nigeria

High-risk jurisdiction. Nigeria requires Enhanced Due Diligence (EDD) for all applicants. You will also need to submit an EDD form with Source of Funds (SOF) and Source of Wealth (SOW) proof.

Corporation

  • Certificate of Incorporation — from the Corporate Affairs Commission (CAC)
  • Business Registration Certificate
  • Form CAC 1.1 — Application for Company Registration
  • Memorandum and Articles of Association
  • Register of Directors and Shareholders
  • Status Report — issued by CAC; shows company details and current status
  • Tax Identification Number (TIN)
  • EDD (required)

Sole Proprietorship

  • Business Registration Certificate
  • Tax Identification Number (TIN)
  • EDD (required)

🇿🇦 South Africa

High-risk jurisdiction. South Africa requires Enhanced Due Diligence (EDD) for all entity types. You will also need to submit an EDD form with Source of Funds (SOF) and Source of Wealth (SOW) proof.

Private Company (Pty) Ltd

  • Company Registration Certificate (CoR14.3) — issued by CIPC
  • Memorandum of Incorporation (MoI)
  • List of Directors (CoR39)
  • Share Register and Share Certificates
  • Tax Clearance Certificate or SARS Tax Number
  • UBO Declaration (if any UBO holds 25% or more)
  • Board Resolution or Mandate for account opening
  • EDD (required)

Close Corporation (CC)

  • Founding Statement (CK1)
  • Amended Founding Statement (CK2) — if changes were made
  • CIPC confirmation of registration
  • SARS Tax Number or Tax Clearance Certificate
  • UBO Declaration (if applicable)
  • EDD (required)

Partnership

  • Partnership Agreement — details roles, contributions, and profit-sharing
  • SARS Tax Number
  • UBO Declaration (if applicable)
  • EDD (required)

Sole Proprietor

  • Valid South African ID or Passport
  • Proof of trade name registration (if applicable)
  • SARS Tax Registration Number
  • EDD (required)

🇴🇲 Oman

LLC (Limited Liability Company)

  • Commercial Registration Certificate — from MoCIIP (Ministry of Commerce, Industry and Investment Promotion)
  • Articles of Association / Memorandum of Association (AoA/MoA)
  • Shareholders Register with percentage ownership
  • Tax Card — issued by the Oman Tax Authority
  • Board Resolution / Power of Attorney authorizing the representative
  • UBO Declaration

Sole Proprietorship / One-Person Company (OPC)

  • Commercial Registration Certificate in the individual's name
  • Tax Card
  • UBO Declaration

Partnership

  • Commercial Registration Certificate
  • Partnership Agreement
  • Tax Card
  • UBO Declaration (for partners holding 25% or more)
🏝️ Offshore jurisdictions

Includes: BVI, Panama, Cayman Islands, Seychelles, Bahamas, Bermuda, and similar.

A Certificate of Incumbency is required for all offshore entities. It must be issued within 6 months and come from a competent authority listing current directors, officers, and shareholders.

Jurisdictions requiring a Certificate of Incumbency:
BVI, Bahamas, Bermuda, Cayman Islands, Cook Islands, Gibraltar, Guernsey and Jersey, Isle of Man, Panama, Saint Kitts and Nevis, Seychelles, Vanuatu, Anguilla, Barbados, Belize, Labuan (Malaysia), Marshall Islands, Mauritius

LLC / Corporation (all offshore jurisdictions)

  • Certificate of Registration or Incorporation
  • Certificate of Incumbency (issued within 6 months)
  • Constitution or Memorandum and Articles of Association
  • Register of Directors, Members, and Beneficial Owners
  • Ownership structure up to UBO level — dated and signed by a director, with bearer share declaration

Cayman Islands — Limited Partnership (LP)

  • Certificate of Registration of Limited Partnership
  • Exempted Limited Partnership Agreement (ELP Agreement)
  • Register of Limited Partners and Register of General Partners
  • Notice of Changes to the Partnership (Form LP5)

Cayman Islands — Foundation

  • Certificate of Incorporation of Foundation Company
  • Foundation Charter
  • Articles of Association (if applicable)
  • Register of Foundation Council Members
  • Register of Directors/Supervisors

 

KYC for connected parties

All UBOs, directors, and account representatives (PPTA) must provide the following, regardless of country.

UBOs and account representatives (PPTA)

  • Proof of Identity (POI): Passport or National ID (front and back) — photo of original, or scanned/photocopy that is CTC'd (Certified True Copy)
  • Job title
  • Email address
  • Residential address
  • Phone number (mandatory for PPTAs; optional for UBOs)

Directors (non-UBOs)

  • Full legal name (first, middle, last)
  • Email address
  • Date of birth
  • Nationality

PPTA (Person acting on behalf / business representative)

  • Proof of identity (passport, national ID, or HKID)
  • Proof of authority: business card or title showing role, plus a declaration or authorization letter from the board
  • Relationship documentation supporting their authority

Frequently Asked Questions

What is a UBO?

A UBO (Ultimate Beneficial Owner) is an individual who ultimately owns or controls the company, directly or indirectly. You may need to provide identity verification for each UBO. For more information, see What is Ultimate Beneficial Ownership (UBO)?

My company has a complex ownership structure. What do I provide?

Provide a full ownership structure chart showing every entity and individual in the chain, down to the natural person level. The chart must be dated and signed by a director.

What if a director or UBO cannot provide identity documents yet?

All required connected parties must complete KYC before the application can be approved.

What if my document is not in English?

You will need to provide a certified English translation, or an official English-language version of the document.

What is a Certified True Copy (CTC)?

A CTC is a copy stamped and signed by a qualified professional such as a solicitor, notary, or CPA, confirming it is a true copy of the original.

What is Enhanced Due Diligence (EDD)?

EDD is an additional verification process for applicants from high-risk jurisdictions. You will be asked to complete an EDD form and provide documentation for your Source of Funds (SOF) and Source of Wealth (SOW).

What if I cannot provide a specific document?

Contact your account manager or our support team to discuss alternatives. In some cases, an AML Attestation Letter from a general partner or fund administrator may be accepted.

Contact our Support Team

If you have questions or need assistance, contact our support team via the Live Chat in the Reap Dashboard (bottom right corner) or email us at hello@reap.global

For more information, visit Know who to talk to at Reap.

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