If you are opening or operating a Toobit account for a business, you can complete Know Your Business (KYB) verification to verify your company and access eligible business services.
Before you start, have your company and ownership details ready, along with the required documents listed below.
Please note: KYB applications currently cannot be submitted through the Toobit app. If you are on the app, copy the verification link and open it in a desktop browser to continue.
Step 1: Go to KYB verification
1. Log in to your Toobit account, select your profile icon, and go to Identity verification.
2. Select the KYB tab.
3. Check the list of required documents, then select Verify now.
Step 2: Add your company details
Fill in the following information about your company:
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Company name and registration number
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Business contact email
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Date of incorporation
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Country of registration and registered address
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Country of operation and business address
Use the information shown on your official company documents.
For the business address, enter the location where your company actually operates. This may be different from its registered address.
Once you've checked the details, select Next.
Step 3: Add your company members
Next, provide details about the people who represent or own your company.
Authorized representative
Add the person authorized to operate the account on behalf of your company. You will need their:
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First and last name
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Position in the company
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Email address
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Country
For Country, use the country shown on their passport. Their personal details must match their identification document, and the email address must be valid.
Ultimate beneficial owners (UBOs)
Add each individual who holds 25% or more of the company's shares. For each UBO, provide:
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First and last name
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Shareholding percentage
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Position in the company
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Email address
If there's more than one UBO, select Add beneficial owner to add another. At least one beneficial owner is required, and you can add up to five.
Use the ownership information shown in your company documents, including the correct shareholding percentage for each UBO.
If no individual holds 25% or more of the company's shares, or the form doesn't reflect your company's ownership structure, contact customer support for assistance.
When you are done, select Next.
Step 4: Upload your documents
On the Upload documents page, select + under each category to add the required files:
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Certificate of incorporation
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Articles of association or memorandum of association
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Current register of shareholders
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Current register of directors
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List of UBOs holding 25% or more of the company's shares
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Passport or identity card of the legal or authorized representative
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Proof of residential address
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Company organizational structure chart
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Documents confirming the company's current operating status
Upload requirements:
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PDF, JPG, JPEG, and PNG files are accepted
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Each file can be up to 10 MB
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You can upload one to five files per category
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Categories marked with an asterisk (*) are required
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Documents must be clear, complete, and consistent with the information in your application
Check your application and uploaded documents before submitting. If anything needs to be changed, return to the relevant page and update it. When you are ready, select Submit.
Please note: Your progress won't be saved if you leave before submitting your application. It's best to have all required documents ready before you start.
Step 5: Check your application status
KYB applications are expected to be reviewed within five business days. We will send the result to your registered email address and through an in-app notification.
You can also return to the KYB verification page to check your application status:
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Approved: Your company name and a business verified badge will appear on the verification page.
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Rejected: Check the reason provided, select Verify again, make the required changes, and resubmit your application.
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Additional documents required: Follow the instructions provided, select Provide additional documents, and upload or replace the requested files.
If your application is rejected or additional documents are required, you won't need to start over. Your existing information and files will remain available for you to update. Once you resubmit, your application will return to pending review.
Things to know about KYB verification
Authorized representatives and beneficial owners
Your authorized representative must have the authority to act on behalf of your company.
The ownership details in your application must match your supporting documents, including the register of shareholders, UBO list, and company organizational structure chart.
Registered and business addresses
Your registered address and business address can be the same, as long as your company actually operates there.
If your registered address is only used for company registration, such as an address provided by a registered agent or company secretary, provide your actual business address separately.
For businesses operating from a shared workspace, use the address of the office where you work. You may be asked to provide documents showing that your company uses the premises.
If you run your business from home, use the residential address where you conduct your business activities. Supporting documents may be required.
Availability by country or region
KYB verification and its requirements may vary by country or region. Check the verification page for the requirements available to your account.
Your account after verification
Once your application is approved, your verified company information will appear on the verification page. You will also be able to view the deposit and withdrawal limits that apply to your account.
KYC verification will no longer be available after your business completes KYB verification.
Some Toobit services are currently unavailable to business-verified accounts, including P2P, credit card purchases, and third-party payments. We recommend checking whether the services your business needs are supported before applying.
FAQs
1. Do I need to complete KYC before applying for KYB?
No. You can apply for KYB verification without completing KYC first. KYB availability and requirements may vary by country or region, so check the verification page for the details that apply to your account.
2. How long does KYB verification take?
Most applications are expected to be reviewed within five business days. Keep an eye on your registered email and account notifications in case we need any additional information or documents from you.
If you haven't received an update after five business days, contact customer support for help.
3. Can I submit another KYB application while one is under review?
No. You can only have one KYB application under review at a time.
If your application is rejected or we ask for additional documents, you can update your existing application and resubmit it. You don't need to start a new one.
4. Why am I seeing "This company has already been verified. Duplicate submission is not allowed"?
This means the company registration number you entered has already been used for an approved KYB application.
Double-check that you entered the correct registration number. If the number is correct and you are still seeing this message, contact customer support.
5. What is an ultimate beneficial owner (UBO)?
A UBO is an individual who holds 25% or more of a company's shares or voting rights.
6. What should I do if my KYB application is rejected?
Check the rejection reason provided with your review result. You can also find the latest status on the KYB verification page.
Select Verify again, make the requested changes, and resubmit your application for review.
If you are not sure what needs to be changed or have trouble resubmitting, contact customer support with your company name, account UID, and a brief description of the issue.
