The KYB has 7 steps and only the company account's Owner can complete it. Unlike the KYC, you can move freely between steps: complete them in whatever order suits you, and everything is saved as a draft.
Step 1 — Company details
Legal name, trading name, registration number, incorporation date, website, contact email and phone, country.
Prefill from SEPREC: if the company is registered in Bolivia, you can search for it by name in the SEPREC registry from this same screen. Once found, you pick the matching establishment and the registry data fills the form by itself. It is optional: everything can be typed by hand, and anything prefilled can be corrected.
Step 2 — Addresses
- Legal address (line 1/2, country, region, city, postal code).
- Physical address (can be marked "same as legal address" to copy it automatically).
Step 3 — Activities and finances
- Tax identification number and type (varies by the country selected).
- Business type (cooperative, corporation, sole proprietorship, trust, LLC, partnership, other). This choice changes which documents step 5 asks you for.
- Industry sector (a broad catalogue: agriculture, mining, construction, manufacturing, retail, transport, finance, health, education, etc.).
- Description of the business activities.
- Account purpose (buying goods/services, donations, investment, personal expenses, treasury, payroll, tax optimization, e-commerce, international payments to family, protecting wealth, receiving payments, transferring money to third parties, other).
- Estimated annual revenue in USD (by range) and monthly volume handled.
- Source of funds (loans, donations, intercompany funds, investments, legal settlements, owners' capital, retirement, sale of assets, sale of goods/services, third-party funds, treasury reserves).
- Countries the funds come from and go to.
Step 4 — Related people (UBOs / beneficial owners)
Here you add one or more people connected to the company: shareholders, legal representatives, directors, beneficial owners. For each person you are asked for:
- First names, surnames, email, date of birth, full address.
- Identification number and issuing country.
- Document expiry date — OPTIONAL (as in the individual KYC): if that person's document has no expiry (e.g. a Bolivian ID card for someone over 60, valid indefinitely), leave it blank.
- Role/position in the company (owner, president, CEO, CFO, COO, shareholder, legal representative, beneficial owner, other).
- Ownership percentage (optional).
- Whether they are a Controller of the company (yes/no).
- Whether they are an Authorized Signatory (yes/no).
- Identity document type and the matching documents for the type chosen:
- ID card: front and back.
- Passport: a single image/page.
- Driving licence: front and back.
Key rule: across all the people added, there must be at least one marked as "Controller" and at least one marked as "Authorized Signatory" (it can be the same person for both). If that condition is not met, the system will not let you move past this step, even if each person's details are complete.
Step 5 — Company documents
- Tax ID.
- Company constitution.
- Commerce registry enrollment.
- Internal regulations / bylaws.
Sole proprietorship: if you chose that business type on step 3, you are not asked for the constitution or the internal regulations, because a sole proprietorship has no corporate structure behind it. Only the tax ID and the commerce registry enrollment remain.
Step 6 — Optional documents
- Contracts or invoices with suppliers and with clients.
- Compliance paperwork: AML audit, AML comfort letter, AML policy.
- Corporate and legal: directors registry, power of attorney, ownership chart, certificate of good standing, court order, electronic signature certificate.
- Financial backup: flow of funds, proof of funds, proof of bank account ownership, proof of account purpose.
- Others: marketing materials, proof of name change (company or individual), proof of relationship.
They are all optional, but uploading the ones the compliance team usually asks for speeds the review up.
Step 7 — Review
The last step asks for nothing new: it shows the summary of the whole file —company details, related people and uploaded documents— to check before submitting.
If any section is still incomplete, the system will not let you finish and says so: "You must complete every section before finishing." Incomplete sections are marked in the sidebar.
On "Finish", the KYB moves to Under review and a PDF summary of the file is generated automatically. Final approval is done manually by the Prismapay compliance team.