Introduction
Ensuring a smooth onboarding and KYC (Know Your Customer) process is essential for your account approval and IBAN issuance. To help with this, the payswix team has set clear requirements to thoroughly review your information, evaluate your application, and make a final decision. Please note that payswix cannot enter into a business relationship with anyone who has not completed the KYC requirements during onboarding.
Online Registration Form
When filling out the online registration form, please provide accurate and up-to-date information. Double-check your entries if needed. Paying attention to details like contact information, company managers’ data, and documentation will help ensure a smoother and faster onboarding process for your account.
ID Verification
Our ID verification system allows you to confirm your identity, which is an essential part of the onboarding and KYC process. This procedure involves taking a live photo of yourself and either your international passport or EEA national ID card. Please ensure the following when performing ID verification:
- Take a photo showing your face and shoulders.
- Use a valid document for verification (only an EEA national ID card or an international passport is acceptable).
- If using an ID card, take one photo of the front and one of the back.
- If using a passport, take a photo of the main page with your photo.
- Ensure all text on the document is visible and readable; otherwise, we cannot accept it.
Notarization vs. Apostille, vs. MOFA
There are requirements set for when the submitted documents must be notarized, apostilled, or legalized by the Ministry of Foreign Affairs (MOFA). Please see them below:
- EU/EEA jurisdictions must provide documents with a Notary Stamp;
- Non-EU/EEA but *Hague convention jurisdictions must provide documents with a Notary Stamp + Apostille;
- Non-EU/EEA and non-Hague convention jurisdictions must provide documents legalized by the Ministry of Foreign Affairs.
The exception is applied to Cyprus as the country does not have a notary. Therefore, documents must be stamped by a certifying officer and apostilled.
Important note: in case of document legalization, it must be legalized in the country of the company’s incorporation (the exception is applied to the Power of Attorney document).
*Members of the Hague Convention: Albania, Andorra, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burundi, Canada, Cape Verde, Chile, China, People's Republic of (Including Hong Kong & Macao Special Administrative Regions), Colombia, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, El Salvador, Estonia, Fiji, Finland, France, Georgia, Germany, Greece, Grenada, Guatemala, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Jamaica, Kazakhstan, Korea, Republic of, Kosovo, Kyrgyzstan, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Malawi, Malta, Marshall Islands, Mauritius, Mexico, Moldova, Republic of, Monaco, Mongolia, Montenegro, Morocco, Namibia, Netherlands, New Zealand, Nicaragua, Niue, North Macedonia, Republic of, Norway, Oman, Pakistan, Palau, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russian Federation, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Suriname, Swaziland, Sweden, Switzerland, Tajikistan, Tonga, Trinidad and Tobago, Tunisia, Turkey, Ukraine, United Kingdom of Great Britain, and Northern Ireland, United States of America, Uruguay, Uzbekistan, Vanuatu, Venezuela.
Guidelines for Corporate Documentation
Please be aware that all documents provided to payswix must be in English or Lithuanian languages or officially translated to English/Lithuanian accordingly (proof of the official translation must be visible in the submitted document). The documents provided must be visible and readable, none of the parts can be covered, redacted or hidden. The documents must be provided by replying to the payswix team’s initial email request. Below, please find a list of general corporate documentation requirements, including cases when Notarization, Apostille, or legalization by MOFA (‘N. A. or M. needed’ column) is needed, as well as the validity period. In case we can access the state registry to get required company documents we would do so for your convenience and would ask you to provide the documents which are not publicly available.
Type of document | Validity period | N. A. or M. needed |
Deed of Establishment/Incorporation document | Not older than 3 months (applies for both, the N. A. or M. stamp and the document itself) | ✔ |
Articles of Association/Memorandum | Latest version | ✔ |
Shareholders & Directors Register | Not older than 3 months (applies for both, the N. A. or M. stamp and the document itself) | ✔ |
Power of Attorney (when applicable) | Not applicable | ✔ |
Signed and dated company structure chart | Not applicable | |
Nominee and Trustee agreements (when applicable) | Not applicable | |
The last annual (audited if required) financial statement of the company (when applicable) | Depends on when the audit was carried out | |
Company’s account bank statement (if the company has an open bank account elsewhere) | The term and validity will be stated with the initial email request from the AML team | |
Valid and signed agreements with business partners + 2 invoices each (when applicable) | Not applicable | |
Valid and Signed agreements with clients + 2 invoices each (when applicable) | Not applicable | |
UBO(s), Director(s), Shareholder(s), Authorized signatory identity documents (valid passport or ID card). | Not applicable | |
Proof of address (POA) of authorized person(s), shareholders, and beneficial owner(s) (acceptable forms of POA: water, gas, phone, internet, council tax); For EU residents, an EU bank statement can also be accepted as a POA. | Not older than 3 months | |
Proof of website domain ownership (invoice) (when applicable). | Not applicable | |
Company's utility bill (acceptable forms of POA: water, gas, phone, internet, council tax) (when applicable). | Not older than 3 months | |
Additional documentation for licensed institutions only: | ||
Operating License (link and a simple copy of the document) | Not applicable | |
Letter from Gambling Commission (when applicable) | Not applicable | |
AML policy and controls (when applicable) | Not applicable | |
Valid and signed agreements with AML solutions (when applicable) | Not applicable | |
AML Questionnaire (when applicable, sent by the payswix AML team) | Not applicable | |
Wolfsberg Questionnaire (when applicable, sent by the payswix AML team) | Not applicable | |
Depending on your business industry and jurisdiction the payswix AML team may request you to provide different Corporate Documents.
Source of Wealth
In some cases, to understand how and which activities generated your source of wealth, the payswix AML team will send you a separate questionnaire to fill out and provide supporting documentation. If you receive one, please make sure that:
- You indicate your Name, Surname, Date of Birth, and Occupation;
- You provide a clear explanation of how the source of funds has been accumulated;
- Based on your explanation, you provide supporting documentation from the list mentioned in the form.