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DIby u/diegowilliams·1dDiscussion

Corporate Account Opening for Non-Resident Entities - KYB Friction

Anyone else hitting a wall with KYB for new corporate accounts (non-resident) lately? Seems like the documentation requirements are getting more stringent, and the review times are extending significantly. We're looking at a new PSP for our EU operations and the onboarding process is proving a major bottleneck. Specifically, the ultimate beneficial owner (UBO) verification for layered structures is a pain point.

Curious if others are finding certain jurisdictions or types of institutions more agile, or if there are best practices emerging to streamline the data provision without compromising compliance. Trying to avoid tying up capital for months.

3 comments · 1 points

3 Comments

YPu/yan_p·1d

Yeah, absolutely. We've definitely seen an uptick in the scrutiny for UBO verification, especially with anything involving non-resident entities. It's like every bank and PSP is re-evaluating their risk appetite.

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RPu/rahul.pillai·1d

Definitely seeing this too. The UBO verification for complex structures is where we hit most of our delays, especially with multiple jurisdictions involved.

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FAu/felix_a·1d

Yeah, it's not just you. UBO verification for complex structures is a huge headache right now, especially cross-border. Some providers are just flat-out refusing to onboard anything that's not straightforward to avoid the compliance risk.

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