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KYB (Know Your Business)

Definition: A compliance process for verifying corporate entities, including their legal status, ownership structure, and financial legitimacy.

To ensure compliance and security, requires businesses to complete a Know Your Customer (KYC) verification process. This guide provides step-by-step instructions for submitting accurate business details and documentation.

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Step 1: Access the Onboarding Checklist

  1. click on the complete KYC tab.

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    Step 2: Complete Business Information

  2. Legal Business Name: Enter as registered (e.g., Penn Logistics).

  3. Business Registration Number: Provide the official ID (e.g., PENN2245671BXI).

  4. Business Type: Select the correct structure (e.g., Limited Liability).

  5. Date of Incorporation: Input the registration date (e.g., 31/12/2002).

  6. Business Address: Ensure consistency with official records.

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    Step 3: Upload Required Documents

Submit clear, unexpired copies of:

  • Business Registration Certificate
  • Recent Bank Statement (≤3 months old)
  • Articles of Association
  • Licenses/Permits (if applicable)

Format: PDF, JPG, or PNG (max.10MB)

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Step 4: Declare Ultimate Beneficial Owners (UBOs)

List all individuals owning shares with:

  • Full legal name
  • Contact details (email/phone)
  • Ownership percentage

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Step 5: Review & Submit

  1. Double-check all entries for accuracy.
  2. Click “Update and Continue” to finalize.