Business KYC requirements
In this section, we will outline the KYC requirements tailored to each jurisdiction and business structure, ensuring that you have a clear understanding of the necessary documentation and steps involved. By following these guidelines, you can confidently navigate the onboarding process.
Sole trader sub-types
Airwallex supports two sub-types of sole trader, which differ in their KYC and KYB requirements:
| Registered sole trader | Non-registered sole trader | |
|---|---|---|
| Definition | An individual operating a business that is formally registered with a government authority (for example, has an ABN in Australia, BRN in Hong Kong, UEN in Singapore, or UTR/VAT in the United Kingdom). | An individual operating a business without formal registration with a government business registry. |
business_structure value | SOLE_PROPRIETOR | SOLE_PROPRIETOR |
| Business identifier | Required. Provide the registration number in business_identifiers. | Not applicable. Omit or leave business_identifiers empty. |
| Business documents | Required. Upload registration certificates or business registry extracts as applicable for the jurisdiction. | Not applicable. No business registration documents are required. |
| Business verification (KYB) | Performed. Airwallex verifies the business through registry searches or document verification. | Not performed. The business is verified solely through the individual's identity. |
| Individual identity verification (KYC) | Required. Government-issued ID with document verification and biometric/liveness check. | Required. Government-issued ID with liveness check (document verification as fallback). |
The presence or absence of business_identifiers determines which sub-type applies. If you provide a business identifier, the account is treated as a registered sole trader. If you omit it, the account is treated as a non-registered sole trader.
Each jurisdiction page below includes requirements for both registered and non-registered sole traders where applicable.
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