In some cases, additional documents, beyond the standard requirements, are required based on the ownership type of the business and/or activity. Here’s a quick guide to what may be needed.

A. Business Ownership Type 

Is it applicable to you? 

If your business is owned by another company with shares equal to or exceeding 25%, then the below requirement would apply. 

Requirements:

• The documents showing the owners of the company/ies that own it, till we can identify individuals that ultimately own 20%~25% or more of your business.

Note: Publicly listed companies are excluded from this requirement.

B. Marketplaces

Definition:

Marketplaces are typically online spaces where many sellers come together to offer their products or services in one convenient location. Whether it's through a website or a mobile app, these marketplaces make it easy for shoppers to browse, compare, and buy from different sellers—all in one place.

Requirements:

• You might be subject to an additional enhanced due diligence procedure covering KYC and the money handling process.

Note: To avoid the hassle of KYC and money handling, you can explore our product addressing the marketplace. Find more details here.

C. Regulated activities

Definition

Businesses that require additional specific regulatory licenses, such as those issued by central banks, capital market authorities, virtual asset authorities, the International Air Transport Association (IATA), public health authorities, or any of the respective regulatory authorities based on the business activity.

Requirements:

• Copy of Regulatory License.

What if you are offering financial products under this category, "Regulated Activities"?

You should provide us with:

• CFT/AML policy 
• You might also be subject to an additional enhanced due diligence procedure. 

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