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Verification of your business

As part of the account setup, we have to verify your business information and know the owners and management of your business. In case you are running a non-profit or similar organization which has no owners, we need to know who the board members and chairman is.

Every bank and payment institution in Europe must comply with the anti-money laundering regulation which e.g. requires us to identify and verify each business and their activity. This process is often called “KYC” or “Know Your Customer”.

You can submit the information and documentation through the Paylike dashboard by clicking the ⓘ icon on your live account.

Country and incorporation types

We support businesses from all over Europe, see the full country list here. Your business must be fully legal and be legally registered for your activities*.

* In some countries you can run a small business without registration which we do allow.

Required business information

We require the following information about your business:

  • Legal name including e.g. your entity type such as “LTD”
  • Company registration number
  • Address
  • IBAN (for settlements)

Required documents

You must include a document which:

  • Verifies the business information, e.g. a business registration document stating your legal name, registration number and address
  • States the owners and management of the business, e.g. an excerpt from the registry or articles of association**

** If you run a non-profit or similar organization, include a document stating the board members as well as the chairman.

The documents must be in one of the following languages: Danish, English, French, German, Hungarian, Italian, Norwegian, Portuguese, Romanian, Spanish or Swedish. You are free to have your documents translated by an authorised translator to one of the accepted languages, preferably English.

Required information on the owners and management

We require the below from at least one manager (e.g. a director/CEO for a company or the chairman of a non-profit). If you have multiple people in your management, start by adding the primary or top manager. In case we need information on more from your management team, we will reach out.

If any individual owns or controls 25 % or more of the business (directly or indirectly through e.g. holding companies), you must add each of those individuals.

For the individuals above we require the following details:

Verification process and request for more information

The above information and documentation is what we require for every business. In some cases, we may require further documentation or information in which we will reach out on email.