Documents Required
Virtual Bank Accounts
KYC
Basic Info
Full name
Residential Address
Date of Birth
Nationality
Email
Phone
ID Document
Liveness check/Selfie (comparison of liveness vs image on passport or DL and verification of document)
Specific
POA (less than 3months)
for Customer’s ID document country is different than residence country (except for EU citizens)
Residence Permit does not contain address information or it does not match customer’s provided address information
Customer residing in high risk jurisdiction Customer IP address is detected to be from high risk jurisdiction
SSN (US citizen or resident only)
KYC questionnaire
Use of product
Employment status
Source of Wealth
Annual Income
Monthly expected transaction count
Monthly expected transaction value
KYB
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)
First name
Last name
Middle name
Date of birth
Email
Contact number
Nationality
Percentage of ownership
SSN (Social security number) for US citizens and US residents
Address details
Proof of Address (not older than 90 days)
First name
Last name
Middle name
Date of birth
Email
Contact number
Nationality
SSN (Social security number) for US citizens and US residents
Address details
Proof of Address (not older than 90 days)
Country
Company name
Registration number
Certificate of incorporation
Shareholder Registry or Register of Members or Excerpt from state
companies registry (if it contains ownership data
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.
Last updated