How to Complete Institutional KYB Verification
Know your business (KYB) is a an essential measure in adapting to the evolving regulations within the cryptocurrency, aimed at combating cybercrimes including scams, fraudulent activities, and money laundering. It serves as an expansion of the Know Your Customer (KYC) procedure. This document provides a comprehensive guide on how to successfully undertake institutional KYB verification on the KuCoin platform.
1. Guidance for Accessing the Institution's KYB Verification Page
1.1 Go to KuCoin.com, log in to your KuCoin account, then click Identity verification under your avatar.
1.2 Click Switch to Institutional Verification, then click the Verify button.
2. Instructions for Completing Required Information on the Institution's KYB Verification Page
2.1 Company Information
Please ensure that all necessary corporate information is accurately furnished as required, thereafter, proceed by clicking 'Next'.
2.1.1 Basic Information
The corporation's name, registration date, and code must precisely correspond with the company registration certificate or Business Registration Certificate uploaded below.
The Tax Identification Number (TIN) is typically obtained from the tax authorities in the country where the institution is registered.
The details related to the Source of Investment Fund and Transaction Volume may vary greatly depending on the institution's situation, which includes factors like its size, investment strategy, targeted investors, and current market conditions. We kindly ask you to provide approximate and truthful information concerning these aspects.
Please enter company director's name in the provided field. If the institution operates under a board of directors, kindly input the name of the chairman. Conversely, if the institution is governed by a sole director, please input the name of this individual.
The websites provided should be from official and trustworthy sources. If no such website is available, it is not necessary to supply this information.
2.1.2 Company Registry Information
The Company Registry Information must precisely correspond with Company Registration Certificate.
2.1.3 Company Office Information
Kindly populate the following fields in accordance with the factual circumstances.
2.1.4 Corporation Documents
Upload company registration certification or business registration certificate, ensure that the document should be clear and recognizable.
Kindly upload a self-portrait in which you are holding your company's registration certificate along with a handwritten note, as demonstrated in the provided sample. The note should include your handwritten signature, a verification code, and the current date. Please ensure that the verification code and date are up-to-date at the time of submission.
2.2 Contact Information
Please ensure that all necessary contact person's information is accurately furnished as required, thereafter, proceed by clicking 'Next'.
2.2.1 Contact Information
The name provided should correspond accurately with the identity document of the contact person.
Enter contact person's company occupation.
2.2.2 Corporation Documents
Please upload the proof of employment for the contact person, which should clearly display the contact person's name and their current role within the company.
Upload the front and back of identity document, which should be clear and recognizable.
2.2.3 Handheld Identity Document
Please upload a self-portrait in which you are holding your identity document along with a handwritten note, as shown in the provided sample. The note should include your handwritten signature, a verification code, and the current date. Please ensure that the verification code and date are up-to-date at the time of submission. Also, the expiration date should correspond with that of the identification document.
2.3 Supporting documents
Submitted all supporting documents as required, thereafter, proceed by clicking 'Submit'.
2.3.1 Corporate Board Resolution or Power of Attorney (POA)
If the company has a board of directors, the Corporate Board Resolution is required. In any other circumstance, the Power of Attorney is required.
The swift processing of the Corporate Board Resolution or Power of Attorney document can be achieved by utilizing our provided template. However, should this template not align with your specific requirements or preferences, we recommend consulting with a professional legal advisor. Please note that if a customize Corporate Board Resolution or Power of Attorney document is submitted, additional time may be required for our review and approval process.
The document should be signed and stamped with an official seal, if no official seal is available, you need to upload a Declaration in Supplementary Documents.
2.3.2 Performance Undertaking Agreement (PUA)
The swift processing of the performance Undertaking agreement document can be achieved by utilizing our provided template. However, should this template not align with your specific requirements or preferences, we recommend consulting with a professional legal advisor. Please note that if a customize performance Undertaking agreement document is submitted, additional time may be required for our review and approval process.
The document should be signed and stamped with an official seal, if no official seal is available, you need to upload a Declaration in Supplementary Documents.
2.3.3 Shareholder Register
The shareholder register should include the name, address and shareholding ratio of each shareholder;
a. If the shareholder is a company (holding more than 25% of the shares), the following information needs to be provided;
- The company's registration certificate
- Shareholding structure
- A scanned copy of the valid ID of the ultimate beneficiary (holding more than 25% of the shares)
b. If the shareholder is an individual (holding more than 25% of the shares), a scanned copy of the valid ID of the shareholder, such as a passport, ID card, or driver's license, needs to be provided.
2.3.4 List of Directors
The list of directors should include the name and address of each director.
Additionally,
a. If the director is a corporate entity, the following should be provided:
- The registration certificate of the company
- The list of the company's directors
- A valid identification document photo of the directors.
b. If the director is an individual, a valid identification document photo of the director should be provided.
Supplementary Documents
All additional documents pertaining to the aforementioned items may be uploaded in this section.
3. Awaiting Institutional KYB Verification Review Results
After submission, our KYC team will review your application and keep you updated via the KYC page or email (institutional_kyc@kucoin.com). During this time, your KYC status will be "In Progress".
If your application is rejected, please click View Details button to check the instructions and click the Retry button to submit again or reply to institutional_kyc@kucoin.com to supplement the required supporting documents.
Here are some examples of reasons why applications are rejected.
4. FAQ
Q: Why does the expiry date of contact person's identity card not align correctly?
A: It is imperative that it matches exactly with the corresponding identity document. Please refrain from selecting permanent validity if the identity document specifies a precise expiration date.
We hope this article has been helpful. Please reach out to our 24/7 customer support via online chat or submit a ticket if you have any other questions.
Happy trading on KuCoin!