Verifying a private company is a critical process for ensuring regulatory compliance, building trust with financial institutions, and enabling access to institutional-grade services. Whether you're integrating with digital asset platforms or establishing corporate banking relationships, proper verification confirms your business’s legitimacy and ownership structure.
This guide walks you through the complete private company verification process, from submitting foundational documents to confirming key personnel identities—ensuring clarity, compliance, and efficiency.
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Understanding Private Company Verification
Private company verification is a formal procedure used by regulated platforms to authenticate the legal existence, operational structure, and beneficial ownership of a business entity. It's especially important in industries such as fintech, cryptocurrency exchanges, and institutional finance, where anti-money laundering (AML) and know-your-customer (KYC) regulations are strictly enforced.
The goal is to confirm:
- The company is legally registered and active.
- Key individuals (executives, owners, authorized users) are who they claim to be.
- Ownership and control structures are transparent and compliant.
This process helps prevent fraud, ensures regulatory adherence, and protects both the institution and the business.
Step 1: Submit Basic Company Information and Address Details
To begin verification, you must provide accurate and up-to-date corporate details. These form the foundation of your company’s identity on file.
Please include the following:
- Company Name – As officially registered.
- Registration Number – The unique identifier issued by your jurisdiction’s corporate registry.
- Date of Incorporation – When the company was legally formed.
- Registered Office Address – The official address listed in government records.
- Principal Business Address – If different from the registered address, provide where daily operations occur.
Ensure all information matches official documentation exactly. Discrepancies can delay approval or result in rejection.
Step 2: Identify and Verify Key Company Roles
As part of regulatory due diligence, platforms require detailed information about individuals who hold significant roles within the organization. This supports transparency and accountability.
You’ll need to verify at least one individual from each of the following categories:
✅ Company Directors or Senior Managers
Examples include:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Chief Operating Officer (COO)
These individuals have decision-making authority and often represent the company during onboarding.
✅ Secretary (if applicable)
If your company has a formally appointed secretary, their details must also be submitted.
✅ Ultimate Beneficial Owner (UBO)
A UBO is any person who owns or controls more than 25% of the company’s shares or voting rights, or otherwise exercises significant influence. You may need to provide:
- Full legal name
- Date of birth
- Nationality
- Residential address
- Percentage of ownership
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✅ Authorized User
This is the individual who will manage the account on the platform. They may or may not be a director or UBO.
✅ Partners (for Partnership Entities)
If your business operates as a partnership, you must disclose all partners. In cases where a partner is another legal entity (not an individual), you must further disclose that entity’s UBO(s).
Note: For complex ownership chains, full traceability to natural persons is required. This ensures compliance with global AML standards.
Step 3: Upload Photo ID for Key Individuals
Each identified role must submit valid government-issued identification. Acceptable documents typically include:
- Passport
- National ID card
- Driver’s license
Submission Requirements:
- Clear color scan or high-resolution photo
- Both front and back sides (if applicable)
- If no back side exists (e.g., passport), the data page is sufficient
- No expired documents
- No screenshots or digitally altered images
Files should be in common formats such as PDF, JPG, or PNG, and clearly legible.
Step 4: Submit Required Corporate Documentation
Supporting legal documents prove your company’s legitimacy and governance structure. All files should be recent (within the last 12 months unless otherwise specified) and officially recognized.
Required documents include:
📄 Certificate of Incorporation or Business License
Proof that your company is legally registered and active in its jurisdiction.
📄 Partnership Agreement (for partnerships only)
Outlines ownership distribution, roles, responsibilities, and profit-sharing arrangements among partners.
📄 Memorandum and Articles of Association
Defines the company’s purpose, governance rules, shareholder rights, and operational framework.
📄 Register of Directors
Lists all current directors, including their full names, addresses, and appointment dates.
📄 Shareholder Register or Beneficial Ownership Chart
Shows equity distribution and clearly identifies UBOs. A signed ownership chart is acceptable if official registers aren’t available.
📄 Proof of Business Address
Utility bills, bank statements, or lease agreements issued within the last three months. Must show the company name and principal business address.
All documents must be original, certified copies, or notarized translations if not in English.
Step 5: Complete and Submit Required Forms
To authorize account access and confirm internal approvals, you must submit formal documentation such as:
✍️ Board Resolution or Account Authorization Letter
This document confirms that:
- The company authorizes the creation of an account on the platform.
- The designated user has permission to act on behalf of the company.
- Relevant parties have been informed and approve the action.
It should be:
- Signed by at least one director or authorized officer
- Dated within the last 90 days
- Scanned and uploaded in PDF format
Frequently Asked Questions (FAQ)
Q: What qualifies as a Ultimate Beneficial Owner (UBO)?
A: A UBO is any individual who owns more than 25% of shares or voting rights, controls the company through other means, or has significant influence over management decisions.
Q: Can I use a virtual office address for verification?
A: No. Platforms require a physical, verifiable business address. PO boxes and virtual offices are generally not accepted for address proof.
Q: How long does private company verification take?
A: Typically 3–7 business days after submitting complete documentation. Delays occur if information is incomplete or inconsistent.
Q: Do I need to notarize all documents?
A: Not always. However, some jurisdictions or platforms may require notarization for non-English documents or high-risk entities.
Q: Can multiple authorized users be added?
A: Yes, but each must complete identity verification and be approved during onboarding.
Q: Is my data secure during verification?
A: Reputable platforms use encrypted systems and comply with data protection laws like GDPR to safeguard your information.
Final Tips for a Smooth Verification Process
- Double-check all entries – Even minor typos in names or registration numbers can trigger rejections.
- Use consistent naming – Ensure company and individual names match across all documents.
- Submit clear scans – Blurry or cropped files slow down review times.
- Keep digital copies – Store all submitted documents securely for future audits or updates.
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By following this structured approach, private companies can successfully complete verification while meeting international compliance standards. With accurate documentation and clear role identification, businesses gain faster access to secure financial services and institutional-grade tools.