KYB has 6 steps and only the Owner of the business account can complete it.
Step 1 — Company details
Legal name, trade name, registration number, incorporation date, website, contact email and phone, country.
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 its type (varies by the country selected).
- Company type (cooperative, corporation, sole proprietorship, trust, LLC, partnership, other).
- Industry sector (a broad catalogue: agriculture, mining, construction, manufacturing, retail, transport, finance, healthcare, education, and so on).
- Description of the business activities.
- Account purpose (purchase of goods/services, donations, investment, personal expenses, treasury, payroll, tax optimization, e-commerce, international payments to family, wealth protection, receiving payments, transmitting money to third parties, other).
- Estimated annual revenue in USD (by range) and monthly handling volume.
- 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 of origin and destination of the funds.
Step 4 — Related persons (UBOs / ultimate beneficial owners)
Here you add one or more people linked to the company: shareholders, legal representatives, directors, ultimate beneficial owners. For each person you provide:
- First names, last names, email, date of birth, full address.
- ID number and issuing country.
- Document expiry date — OPTIONAL (same as in 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.
- Position in the company (owner, president, CEO, CFO, COO, shareholder, legal representative, ultimate beneficial owner, other).
- Ownership percentage (optional).
- Whether they are a Controller of the company (yes/no).
- Whether they are an Authorized Signer (yes/no).
- ID document type and the matching documents for the type chosen:
- National ID card: front and back.
- Passport: a single image/page.
- Driver's license: front and back.
Key rule: among all the people you add, there must be at least one marked as "Controller" and at least one marked as "Authorized Signer" (the same person can hold both). If this condition is not met, the system will not let you move past this step, even when every person's details are complete.
Step 5 — Company documents (all required)
- Tax identification document (Tax ID).
- Certificate/articles of incorporation.
- Proof of company address.
- Chamber of commerce registration.
- Bylaws / internal regulations.
Step 6 — Optional documents
- Contracts or invoices with suppliers (optional).
- Contracts or invoices with customers (optional).
- Free-form additional documents: you can upload any other document, stating manually what type it is.
When you press "Finish" on step 6, KYB moves to "Under review" and a PDF summary of the file is generated automatically. From there, final approval is done manually by Prismapay's compliance team.