When you open a business account, we ask you to indicate the beneficial owners (also known as UBO, Ultimate Beneficial Owner). It might seem like bureaucracy, but it's an important safeguard: it helps determine who really owns and controls the company, as required by European anti-money laundering regulations.
In simple terms
Beneficial owner: someone who owns a significant share of the company (generally 25% or more) or otherwise controls it.
Director: someone with the power to manage the company (for example, the sole director or members of the board).
Representative: the person opening the account on behalf of the company — often the same as the roles above.
What you need to do
1. In the «Company structure» step, enter the first name, last name, email, phone number, role, and ownership percentage of each person. If you've uploaded your company registration certificate, everything will already be pre-filled: just check and confirm.
2. Each person receives their own link for identity verification (document + selfie). The account is only approved once everyone has completed their verification — this is the most common reason for delays!
💡 Tip: let your partners know they'll be receiving the link, so they don't mistake it for spam. You can track everyone's status from the summary and resend the link to anyone who hasn't received it.