Verify the identity of UBOs (shareholders) in real time while completing an application.
Any application for a Limited type company (Limited Company, Limited Partnership or Limited Liability Partnership) requires the details of the Ultimate Beneficial Owners (UBOs) or Shareholders of the business. The follow steps describe how this works:
1. When completing an application for a Limited Company, Limited Partnership or Limited Liability Partnership (some details will be pre-filled) complete the 'Business
Information' / 'Directors' or 'Partners' sections as normal.
2. Select the 'Ultimate Beneficial Owners' section.
3. Select 'Edit details' on any UBOs that are already listed (or select 'Add UBO' to add a new one).
4. Check and complete the Ownership % and full name – Save Details.
5. Once you have saved the Ultimate Beneficial Owner details, you'll see an orange banner which will explain what to do next. It will also have a 'Refresh' button which you can click to update the status of each UBO.
6. Select 'Verify ID' to start ID Verification of a UBO.
7. In the pop-up that appears, select 'Start ID Verification' if you have the details outlined in the info box (date of birth and home address). You may also be asked to add documentation such as a driving licence, passport and a document showing proof of address (e.g. a utility bill). If you don't have this, copy the link shown, and send it to the person for them to complete verification themselves.
8. If you're completing the ID verification yourself, you'll see a pop up from our verification partner Onfido – follow the instructions shown on screen.
9. Once complete, close the pop up window (you'll see a 'thank you' screen when complete.)
10. Select the 'refresh' button in the banner to update the verification status; it'll change to 'complete'.
11. If you sent the link to the person to complete, they can complete the process on desktop or mobile, and use their mobile camera to take photos of any requested documentation. In most cases, you'll only need to send the link to the person if the extra documentation is required.
12. You can save your application and come back any time, hitting the 'refresh' button on the UBO page to see if those who you've sent the link to have completed ID verification. You'll see the listed person with 'Complete' above their name.
13. The UBO section in the application will show as 'Complete' (in the sections menu on the left) when all UBOs have a completed verification. Complete the remaining sections of the application (if you haven't already) and submit. The UBOs being pre-approved will help speed up your application.