> For the complete documentation index, see [llms.txt](https://help.rails.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.rails.xyz/signup/verify-your-account/business-verification.md).

# Business Verification

Know Your Business (KYB) verification is a process used to verify the legitimacy of business entities that wish to use the Rails Exchange platform, and is a requirement to meet anti-money laundering (AML) regulations.

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#### Know Your Business (KYB)

Complete the Business Questionnaire, input your ownership and control structure, and upload business documents that verify the entity.

See [Business Document Requirements](/signup/verify-your-account/business-verification/business-document-requirements.md).
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#### KYC for Relevant Individuals

Identity verification for all applicable Ultimate Beneficial Owners (UBOs) and controllers.

See [Required Individuals for Business Verification](/signup/verify-your-account/business-verification/required-individuals-for-business-verification.md).
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We've detailed the key requirements below to help streamline your sign-up. Having all necessary information prepared in advance will make the process faster and smoother, and if you need help, we are here to assist you. Please [submit a support request](https://railsxyz.zendesk.com/hc/en-us/requests/new), and our team will contact you as soon as possible.

Our team will then complete our review of your submission within **one business day**.

## Step 1: Know Your Business (KYB)

Through KYB, we verify information about your company, such as its legal status, ownership structure, and business activities. Similar to Know Your Customer (KYC), which focuses on individuals, KYB ensures business clients are compliant with anti-money laundering (AML) regulations and helps prevent fraudulent or illicit activity.

<details>

<summary>What business details need to be verified?</summary>

The following information must be collected and verified for all eligible business accounts:

**1) Legal Presence:**

* Proof of registration/incorporation
* Registered company name
* Registered address, and any operating office addresses

**2) Ownership Structure:**

* Identification of all Beneficial Owners
* Identification of all Directors
* Identification of all Controllers
* Identification of all Trustees, Settlors, Beneficiaries, Contributors of capital, Protectors and Enforcers of a Trust (if applicable)

**3) Proof of Good Standing:**

* Evidence that the entity is active and in good standing (verified within the last 6 months)

</details>

<details>

<summary>What documentation is required?</summary>

We use public records and trusted third-party tools to attempt to verify entities independently. However, due to our global user base, documentation is required.

The documents we'll need to collect will vary based on your organization type (corporation, trust, partnership etc.) and jurisdiction.

Review the [Business Document Requirements](/signup/verify-your-account/business-verification/business-document-requirements.md) for a list of acceptable documents based on your organization type.

</details>

<details>

<summary>Which individuals must verify their identities?</summary>

Some beneficial owners and controllers are required to complete KYC verification. The number of individuals varies by business type and ownership structure.

Review [this guide](/signup/verify-your-account/business-verification/required-individuals-for-business-verification.md) to confirm which owners and controllers will be required to complete identity verification.

</details>

We've partnered with [SumSub](https://sumsub.com/), a trusted partner, to conduct user verification by capturing key information about your business.

### Business Questionnaire

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[Sign back in to Rails](https://exchange.rails.xyz/) after verifying your email to start verification.

1. Select **Continue** to begin the questionnaire.
2. Enter your company details and select **Find company**.
3. If your company is listed in the public registry search, select your company, then **Select company**. Otherwise, you'll be prompted to enter your company information manually. If prompted, enter your details and select **Save and continue**.
4. Answer all questions in the **Business Application** and **Investor Questionnaire** sections accurately. Select **Continue** at the end of each page as required.

If you see a screen indicating you are not eligible for Rails Exchange, select the link for more information or [contact us](https://railsxyz.zendesk.com/hc/en-us/requests/new) if you need support.
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### Upload business documents

Here you will provide [acceptable business documents](/signup/verify-your-account/business-verification/business-document-requirements.md) that collectively verify the following information about your business:

* Registration/incorporation date
* Registered business name and address(es)
* Ownership and control structure
* Proof of good standing

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All documents need to be dated within the last 12 months, except for the Certificate of Good Standing, which must be dated within the last 6 months.

1. Read which documents are required to complete KYB verification. At least one document per section is required unless it's indicated to be *Optional*.
2. Select the drop-down icon and choose the document you'd like to upload.
3. Select the box containing the upload icon and choose a document from your device.
4. Select **Continue** and repeat for all required documents.
5. Once you have a green checkmark next to all required sections, select **Continue**.

{% hint style="info" %}
You may need to submit a [certification form](/signup/verify-your-account/business-verification/document-certification-requirements.md) if we can't verify your company via a public registry.
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### Ownership and control structure

Here you will *identify* the beneficial owners and controllers required to complete KYC verification.

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Review [Required Individuals for Business Verification](/signup/verify-your-account/business-verification/required-individuals-for-business-verification.md) to determine which owners and controllers must complete KYC for your business.

1. Confirm the declarations shown by checking the **Submit** boxes, then select **Continue**. Read each declaration carefully and accept where it applies. This is required to ensure Rails abides by all laws in all jurisdictions.
2. Select **Add individual** in each section to identify all required individuals for your business. Select **Submit** to continue.
3. Enter the details of each individual and select **Create beneficiary**.
4. Once all required individuals have been identified, select **Submit**.

Different entity types will have slightly different language on screen.
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{% hint style="info" %}
If an individual holds multiple roles, tick the applicable boxes to reuse their details across positions. All identified individuals will need to [complete KYC](#step-2-complete-kyc-for-relevant-individuals) before the application can be approved.
{% endhint %}

## Step 2: Complete KYC for Relevant Individuals

The final step is for all individuals identified in the ownership and control structure stage to complete identity verification.

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Notify each person prior to requesting verification so it does not get confused for spam or phishing.
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1. Send the verification link to each associated individual by selecting **Send to email**, which will email them automatically, or **Copy link** to send it to them personally.
2. Notify each person that you've requested them to verify their identity to trade on Rails.
3. Each person must verify their identity via the KYC steps outlined for [Individual Verification](/signup/verify-your-account/individual-verification.md).

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All individuals must complete this step prior to the application being approved.
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## What Happens Next

A member of the Rails team will notify you of the status of your application within 1 business day of all individuals completing KYC verification. See [what happens after you submit](/signup/verify-your-account.md#what-happens-after-you-submit).