When adding an individual shareholder or director to your application dashboard, you must complete the following sections:
1. Required Profile & Personal Data
Full Legal Name & Structure: Enter the individual’s first and last name exactly as written on their official photo ID. For individuals from mainland China, Hong Kong, Macau, or Taiwan, our systems require their name to be structured with the Surname listed first, ensuring it matches official registry filings.
Contact & Vital Details: Provide an active personal email address, a mobile phone number, and their exact date of birth.
Regional Government Numbers: For applications tied to specific countries, you must provide local identity numbers (such as a BVN or NIN for Nigeria , a KRA PIN for Kenya, or a Social Security Number (SSN) for operations inside the United States).
Company Status: Confirm whether this individual also serves as an active director or a senior managing official with executive control over the business entity.
2. Ownership Percentage & Threshold Rules
Verto applies two distinct ownership tracking tiers depending on your business type:
Standard Business Owners (25% Rule): You must declare and verify any individual who directly or indirectly holds an ownership stake or voting rights of 25% or more in your company.
High-Risk or Complex Businesses (10% Rule): If your company operates in a specialized sector (such as digital assets, crypto, or precious metals) or involves a complex legal structure, our enhanced rules require you to verify every individual holding a stake of 10% or more.
Distributed Ownership (No Primary UBOs): If your company's shares are widely distributed and no single individual meets the 25% (or 10% high-risk) threshold, you are required to submit full KYC verification documents for two company directors who share legal management responsibility for the entity.
3. Mandatory Identity and Address Verification Documents
Every declared shareholder or director must submit two baseline verification documents:
Proof of Identity (Photo ID): A clear, uncropped color photograph of a valid government photo ID, such as an international passport or driving license.
Hong Kong ID Criteria: A permanent Hong Kong ID Card (marked with three stars) is fully accepted. Non-permanent Hong Kong ID cards are not accepted as standalone documents; these cardholders must provide their valid international passport to determine true nationality.
China ID Criteria: Mainland China Resident Identity Cards must be accompanied by a valid China passport to verify the individual's legal English name.
Taiwan Passport Criteria: If a Taiwan passport contains a legal "AKA" (Also Known As) preferred name, both the primary legal name and the AKA alias must be entered for system screening.
Proof of Residential Address: A clear utility bill (gas, water, electricity, or landline internet) or a personal bank statement issued within the last 3 months displaying the individual’s full name and home address.
Kenyan Residents Alternative: If standard utility bills are unavailable, Kenyan residents can fulfill this step by uploading a combination of two documents: a Kenyan Revenue Authority (KRA) Tax Compliance Certificate AND proof of a local bank account.
Document Visibility Rule: Bank statements with text redactions may be considered for address proof, but statements submitted to verify your company's Source of Funds (SoF) can never contain redactions.
4. Special Conditions for Specific Nationalities
Out of Risk Appetite (OORA) Nationalities: If a shareholder holds citizenship from an unapproved or restricted country but permanently resides in an active, supported region, their profile may move forward under Enhanced Due Diligence (EDD). They must upload a personal bank statement covering the last 6 months of continuous transactions , complete a formal Source of Wealth declaration form , and provide written confirmation that they maintain no active financial or operational ties to their restricted home country.