KYB for non-US entities onboarding US businesses – any specific hurdles?

Question

Running into some friction with our existing KYB provider when onboarding US-based entities. We're a non-US company, and it seems like the due diligence for verifying the beneficial ownership and operational legitimacy of these US businesses is taking disproportionately longer, even for relatively straightforward corporate structures.  Are other non-US firms seeing similar bottlenecks, or is it potentially our provider's specific workflows?  Trying to understand if this is a systemic issue with cross-border KYB into the US or if we need to shop for a more efficient vendor that understands US corporate registries better.  The delays are starting to impact our sales pipeline.

thomasandersson · Accepted Answer

It's almost as if the US doesn't want anyone to know who owns what, or something. We've definitely seen extended timelines here too, especially with the more byzantine LLC structures that seem designed to confuse rather than clarify.

range_rider_yuki · Answer

We definitely ran into this earlier last year. The extra layer of cross-border verification for beneficial ownership in the US was a pain. Have you looked into providers that specialize in international KYB, or are you hoping to stick with your current one?

olenastoica · Answer

We've definitely experienced this. It often comes down to the provider's specific data sources and integration with US registries. Have you looked into solutions that specialize in US business verification, or are you hoping to stick with a single global provider?

santos_farid · Answer

That's interesting. I've heard of some companies facing challenges with cross-border KYB, but I didn't realize it was such a specific issue for non-US entities onboarding US businesses. Do you think it's mainly about accessing reliable data sources for US companies, or is there more to it?

KYB for non-US entities onboarding US businesses – any specific hurdles?

Top answers

Related questions