What is Know Your Business (KYB) verification?
KYB verification is the process of verifying a company's identity, ownership structure, key personnel, and business information.
It helps Toobit confirm who is behind a business account and assess risks associated with the company and its activities.
Why do I need to complete KYB verification?
If you use Toobit on behalf of a business, KYB verification allows you to verify your company and access eligible business services.
Once approved, your company name and a business verified badge will appear on the verification page. Available services and account limits may vary based on your account and applicable Toobit policies.
What documents do I need for KYB verification?
Toobit currently requires documents in nine categories:
1. Certificate of incorporation: Confirms that your company is legally registered and should show key details such as the company name and registration number.
2. Memorandum and articles of association: Sets out your company's structure, purpose, and governance rules.
3. Current register of shareholders: Shows your company's current shareholders and their shareholdings.
4. Current register of directors: Shows your company's current directors.
5. List of ultimate beneficial owners (UBOs): Identifies individuals who own 25% or more of the company.
6. Passport or identity card of the legal or authorized representative: A valid identification document for the person legally representing or authorized to act on behalf of the company.
7. Proof of residence: Confirms the residential address of the person specified in your application.
8. Company organizational chart: Shows your company's ownership structure, including its shareholders and UBOs.
9. Proof of operating status: Confirms that your company is currently operating.
Files must be in PDF, JPG, JPEG, or PNG format and no larger than 10 MB each. You can upload one to five files per category.
Make sure your documents are valid and consistent with your company’s official records. If a required document doesn't apply to your company or isn't available, contact customer support for guidance.
What information do I need to provide about company representatives and beneficial owners?
On the Member information page, you will need to provide details about your company's authorized representative and UBOs.
For the authorized representative, provide their first name, last name, position, email address, and country. The country should match the one shown on their passport.
For each UBO, provide their first name, last name, shareholding percentage, position, and email address. You can add between one and five beneficial owners.
All personal and ownership details should match your company documents.
What if the same person is both the authorized representative and a UBO?
Enter the person's details in both the Company authorized representative and Ultimate beneficial owner (UBO) sections. Make sure the information is consistent across both.
You don't need to select multiple roles within the same section. Director information should be provided through the relevant company documents, such as the current register of directors.
What if no one owns 25% or more of the company?
Contact customer support with details of your company's ownership and control structure. Our team can advise you on how to complete the form and which documents to provide.
Don't enter inaccurate ownership or shareholding information simply to meet the form requirements.
Can an employee or third-party agent be the authorized representative?
Yes, as long as they are formally authorized to act on behalf of the company. Toobit may ask for proof of authorization.
If requested, the authorization documents should identify the authorized person, explain the scope of their authority, include the date of signature, and be signed by someone authorized to represent the company.
What documents do I need if my company has changed its name?
Provide a certificate of change of name or an equivalent document issued by the relevant authority.
The document should show the previous company name, the new company name, and the date the change took effect. If some of your company documents still show the previous name, Toobit may ask for additional documents to confirm that both names belong to the same company.
What can I use as proof of address?
Common examples include:
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Utility bills, such as water, electricity, gas, internet, or landline bills
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Bank statements
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Proof of residence or address issued by a government authority
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Tax returns, council tax bills, or tax invoices
The document should clearly show the relevant person's or company's name, address, and issue date.
Check the KYB verification page or the instructions provided during your application to confirm whose proof of address is required, which documents are accepted, and how recent they need to be.
Can I use my registered address as my business address?
Yes, as long as your company actually operates there.
If your registered address is used only for company registration, such as an address provided by a registered agent or company secretary, provide your actual operating address instead.
For a business based in a shared workspace, use the address where your company operates. If you run your business from home, use the residential address where you conduct your business activities. You may be asked to provide supporting documents.
Why can't I find my country or region on the verification page?
KYB availability and requirements vary by country or region.
If your country or region isn't listed on the verification page, check the applicable Toobit policies or contact customer support for more information.
Can I complete KYB verification in the Toobit app?
Not currently. KYB applications must be completed on the Toobit website.
In the app, go to Identity verification → KYB, select Verify now, then select Copy link when prompted. Open the link in a desktop browser and log in to continue your application.
Do I need to complete KYC before applying for KYB?
No. You can apply for KYB verification whether or not you've completed KYC verification.
Check the verification page to see whether KYB verification is available for your account.
How long does KYB verification take?
KYB applications are generally reviewed within five business days.
Keep an eye on your registered email and account notifications in case additional information or documents are required. If you haven't received a result after five business days, check your application status on the verification page.
How can I find out why my KYB application was rejected?
Check the review result email, in-app notification, or the KYB verification page for the reason your application was rejected.
Select the option to verify again, make the requested changes, and resubmit your application. Your existing information and uploaded files will remain available for you to update.
What should I do if Toobit asks for additional documents?
Return to the KYB verification page and follow the instructions provided. Add or replace the requested files, make any other necessary changes, and resubmit your application.
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 you need to correct information you've already submitted, contact customer support for assistance.
Who can I contact if I need help with KYB verification?
Contact customer support if you need help with your application, document uploads, additional document requests, or review results.
Include your company name, account UID, application date, and any relevant screenshots so our team can better assist you.
Note: KYB document requirements, availability, and review procedures may vary by country or region. Check the KYB verification page, applicable Toobit policies, and any instructions provided during the review for the requirements that apply to your application.
