At Verto, our goal is to empower businesses to move money globally. However, to maintain regulatory compliance and secure our transactional network, we cannot onboard companies that maintain primary, high-risk connections to unsupported jurisdictions or countries placed under comprehensive international sanctions.
When is an application automatically turned down?
We cannot open a Verto profile if your company has an absolute, direct connection to an Out of Risk Appetite (OORA) country. This restriction applies if your business falls under any of the following categories:
The country where your business is officially registered is on our restricted list.
The primary day-to-day physical operations or headquarters of your business are located in a restricted country.
Any Ultimate Beneficial Owner (UBO) holding a 25% or greater stake in your business lives in a restricted country.
What if my business is registered in an approved country but has secondary connections to a restricted region?
If your corporate entity is set up in a supported country, but your business maintains secondary exposure out of a restricted region, you may still be eligible to open an account. We evaluate these scenarios on a case-by-case basis through three approved pathways:
Transactional Flows: Moving funds safely without direct domestic exposure.
Group Links: Managing corporate relationships with parent companies or subsidiaries located in these areas.
Business Relationships: Working directly with international clients or suppliers based in these regions.
Important Setup Requirement: To move forward with an account under any of these secondary exposure pathways, an authorized company representative must confirm in writing that no funds generated within or tied to an unapproved country will be processed through your Verto accounts.
What if a business owner holds nationality from a restricted country but lives somewhere else?
If a major shareholder or director is a citizen of an unsupported country but permanently resides in an approved region, the application can proceed under our Enhanced Due Diligence (EDD) process. In this scenario, the owner must provide:
Private individual bank statements displaying the last 6 months of consecutive transactions.
A signed, formal Source of Wealth (SOW) declaration form.
Explicit written confirmation that they retain no substantial operational or financial connections inside the restricted home country.