Perform KYB business verification including beneficial ownership and UBO identification

Steps

1. Collect the legal business name, registration number, jurisdiction of incorporation, and registered address from the applicant
2. Submit the business data to your KYB vendor's business verification endpoint to confirm the entity exists in official registries and retrieve any available registry data
3. Request the ownership structure by calling the beneficial owner or UBO endpoint, which may return a hierarchy of shareholders and controlling parties
4. Identify all natural persons who own or control above your threshold percentage (commonly 25 percent) as required by your jurisdiction's beneficial ownership rules
5. Run each identified UBO through your standard KYC and AML screening workflow as if they were an individual applicant
6. Obtain and store supporting documentation (certificate of incorporation, ownership chart, or government registry extract) for the audit file