> For the complete documentation index, see [llms.txt](https://docs.avici.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.avici.money/getting-started/business-accounts/documents-required.md).

# Documents Required

## Virtual Bank Accounts

### Standard KYB requirements

**Company information**

* Country
* Company name
* Registration number
* Legal address
* Type of entity
* Date of registration
* Website
* Company email
* Tax ID

**Documents**

* **Company details** (Doc type: Statement of information, Excerpt from a state company registry, Articles and memorandum of association, Incorporation certificate, Certificate of incumbency, Certificate of good standing)
* **Ownership structure** (Doc type: Shareholder registry, Statement of information, Trust agreement, Excerpt from a state company registry) The document must list all shareholders with their ownership percentages (totaling 100%), be dated within the last 12 months, and signed by a director unless publicly available.
  * KYC checks: Each UBO with 25%+ ownership and all company directors must complete KYC (Proof of ID + Proof of Address) and be individually approved before onboarding. If there is no UBO who owns 25%+, all UBOs with 10%+ ownership must be verified.
  * KYB checks: Apply to all legal entities in the ownership chain. For each additional entity, the same information is required unless ownership can be verified through open sources.
* **Control and management structure** (Doc type: Director registry, Trust agreement, Statement of information, Excerpt from a state company registry - any of these documents if it contains information about appointed directors)

**Business detail**

* Industry type
* Business model & target clients (nature of business, products/services, profile of customers)
* Main business countries of operation
* Licenses or registrations (financial, regulatory, or sector-specific)
* AML Program requirement (Yes/No) → if yes, upload Company’s AML Policy
* Estimated annual revenue (eur)

**Source of Funds**

* What is the source of the funds that will be used for transactions via the platform? (selector)
* Upload SoF document (This is not part of our standard onboarding, but it is mandatory for business customers who want to use SEPA third-party payouts via LHV.)

**Planned Activities**

* Purpose and intended use (for what purposes the platform will be used)
* Estimated monthly volume (expected transaction value)
* Estimated monthly transactions count (expected number of transactions)
* Do you send funds on behalf of customers? → if yes, explain Flow of Funds / add flow of funds chart

**Associated Parties of Your Company**

* UBO (Ultimate Beneficial Owner): Always a natural person. Direct or indirect ownership above 25% (or 10% in high-risk cases).
* Director: Individual(s) formally appointed as director(s). Representative: Authorized individual acting on behalf of the company.
* Shareholder (direct ownership above 25%; company). (E.g., Business Customer → owned by Company A → John Smith owns Company A → Company A is Shareholder, John Smith is UBO).
* UBO - always a natural person
* Shareholder - always a legal entity

| UBO (Individual Form                                                                                                                                                                                                                                                                                                              | Director / Representative / Shareholder (Individual Form)                                                                                                                                                                                                                                         | Shareholder (Business Form)                                                                                                                                                                                                                         |
| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| <ul><li>First name</li><li>Last name</li><li>Middle name</li><li>Date of birth</li><li>Email</li><li>Contact number</li><li>Nationality</li><li>Percentage of ownership</li><li>SSN (Social security number) for US citizens and US residents</li><li>Address details</li><li>Proof of Address (not older than 90 days)</li></ul> | <ul><li>First name</li><li>Last name</li><li>Middle name</li><li>Date of birth</li><li>Email</li><li>Contact number</li><li>Nationality</li><li>SSN (Social security number) for US citizens and US residents</li><li>Address details</li><li>Proof of Address (not older than 90 days)</li></ul> | <ul><li>Country</li><li>Company name</li><li>Registration number</li><li>Certificate of incorporation</li><li>Shareholder Registry or Register of Members or Excerpt from state</li><li>companies registry (if it contains ownership data</li></ul> |

**Identity verification/Liveness Check for Director/authorized rep, UBO**

For business customers, there are typically 2–3 types of people to identify, depending on whether an authorized representative is appointed (a person with power of attorney who assists the director/management in opening the account):

* Director(s): ID collection + liveness check.
* UBO(s): Regulations usually require only ID collection. In high-risk cases a liveness check may also be required. Normally, UBOs are not subject to liveness checks unless they are also directors.
* Authorized representative (if appointed): ID collection + liveness check + power of attorney signed by the company’s director confirming authorization.