Corporate Due Diligence Requirements: Complete Guide to Documents and Information Needed to Open a Kanzum's Bank Account
2026-01-07 19:00
Introduction
Opening a corporate bank account at Kanzum - the best solution for fast, secure, and cost-effective cross-border payments - requires a thorough corporate due diligence process. This ensures your company, ownership structure, and financial operations are verified and compliant with regulatory standards.
This guide details all documents and information you may need to provide when opening a Kanzum account, why each is required, how to meet acceptance criteria, and common reasons for rejection. Preparing these documents in advance helps make the onboarding process smooth and efficient.
1. Business and Account Information
1.1 Legal Status
What we ask
Your personal or business legal status.
Explanation
Legal status determines how you are recognized under the law and which regulatory obligations apply. It also defines what documents are required and how ownership and control are assessed.
Understanding the purpose of the account helps assess whether the intended use aligns with your profile, industry, and transaction behavior. This is a core regulatory requirement under AML laws.
Acceptance criteria
Clear, specific, and legitimate purpose
Common rejection reasons
Vague or generic explanations
1.3 Business Type / Industry
What we ask
The industry or sector in which you operate.
Explanation
Industry classification allows risk assessment based on regulatory exposure and sector-specific risks. Certain activities require enhanced due diligence or licensing.
Acceptance criteria
Industry clearly described
Common rejection reasons
Prohibited or undisclosed high-risk activities
1.4 Description of Activities, Products, or Services
What we ask
A detailed explanation of what your business does.
Explanation
This information helps validate that your operations are lawful, coherent, and aligned with your declared industry, turnover, and customer base.
Acceptance criteria
Clear, complete, and lawful description
Common rejection reasons
Incomplete or misleading explanations
1.5 Expected Monthly Turnover
What we ask
Your estimated monthly transaction volume.
Explanation
Expected turnover is used to assess transaction monitoring thresholds and whether projected activity is realistic for your business model and size.
Acceptance criteria
Reasonable and internally consistent estimates
Common rejection reasons
Unrealistic or contradictory figures
1.6 Customers and Target Jurisdictions
What we ask
Your customer types and operating countries.
Explanation
This allows screening against sanctions, high-risk jurisdictions, and regulatory restrictions. It also supports ongoing transaction monitoring.
An official document confirming that the company legally exists.
Explanation
This document proves the company was validly incorporated and is recognized by the relevant authority. It forms the foundation of all corporate verification checks.
Acceptance criteria
Issued by an official registry
Clear and complete
Common rejection reasons
Unofficial extracts or altered documents
2.2 Memorandum / Articles of Association
What it is
The company’s constitutional framework.
Explanation
These documents define what the company is legally allowed to do, how decisions are made, and who has authority. They are reviewed to confirm activity scope and governance structure.
Acceptance criteria
Complete and current version
Common rejection reasons
Missing pages or outdated versions
2.3 Certificate of Incumbency
What it is
Confirms current directors and officers.
Explanation
This document ensures that individuals claiming authority over the company are legitimately appointed and currently in office.
Acceptance criteria
Issued by a qualified third party
Recent issuance
Common rejection reasons
Self-issued or outdated certificates
2.4 Certificate of Good Standing
What it is
Confirms the company is compliant and active.
Explanation
It demonstrates that the company has met filing obligations and is not dissolved or struck off.
Acceptance criteria
Issued by an official registry
Common rejection reasons
Expired or unofficial documents
2.5 Register of Directors
What it is
Record of all company directors.
Explanation
Used to identify individuals with management control and verify governance consistency across documents.
Acceptance criteria
Official or signed internal register
Common rejection reasons
Missing signatures or outdated data
2.6 Register of Shareholders
What it is
Record of company ownership.
Explanation
This document establishes ownership percentages and helps identify beneficial owners.
Acceptance criteria
Ownership percentages clearly shown
Common rejection reasons
Incomplete or unsigned registers
2.7 Beneficial Owner Register (EU)
What it is
Official EU register of ultimate beneficial owners.
Explanation
This register confirms who ultimately owns or controls the company, which is a legal AML requirement.
Acceptance criteria
Official extract with verified UBOs
Common rejection reasons
Missing or unverifiable information
3. Ownership Structure
3.1 Ownership Chart
What it is
Visual representation of ownership.
Explanation
Ownership charts make complex structures easier to understand and help confirm consistency across shareholder records.
Acceptance criteria
Signed and dated
Clear ownership percentages
Common rejection reasons
Missing layers or signatures
3.2 Ownership Chart – Complex Structures
What it is
Detailed group ownership diagram.
Explanation
Required when ownership spans multiple entities or jurisdictions, ensuring transparency through independent certification.
Acceptance criteria
Certified by an independent professional
Common rejection reasons
Self-certified or incomplete charts
3.3 Authorized Representatives
What it is
Proof of signing authority.
Explanation
Confirms who is legally allowed to act on behalf of the company during onboarding and account operations.
Acceptance criteria
Formal authorization documented
Common rejection reasons
No valid authorization provided
4. Operational Presence and Financial Background
4.1 Proof of Operational Address (Business)
What it is
Evidence of where the company operates.
Explanation
Used to confirm that the business has a real operational presence and is not solely a registered shell entity.
Acceptance criteria
Company name and address visible
Common rejection reasons
Address not verifiable
4.2 Source of Funds – Company
What it is
Origin of specific transaction funds.
Explanation
Allows verification that funds originate from legitimate business activities rather than illicit sources.
Acceptance criteria
Clear explanation with evidence
Common rejection reasons
Vague or unsupported claims
4.3 Source of Funds – Individual
What it is
Origin of personal funds.
Explanation
Ensures personal funds used are consistent with the individual’s profile and income sources.
Acceptance criteria
Supporting documentation provided
Common rejection reasons
Unsupported explanations
4.4 Source of Wealth – Company
What it is
Overall funding background of the company.
Explanation
Provides a holistic view of how the company sustains itself over time, beyond individual transactions.
Acceptance criteria
Consistent with business profile
Common rejection reasons
Unclear funding sources
4.5 Source of Wealth – Individual
What it is
How personal wealth was accumulated.
Explanation
Used to assess whether the individual’s financial position is credible and lawful.
Helps assess viability and expected activity for companies without historical data.
Acceptance criteria
Realistic and coherent plan
Common rejection reasons
Generic or implausible projections
5.2 Flow of Funds Diagram
What it is
Visual explanation of money movement.
Explanation
Clarifies transaction mechanics and the role of each party, including Kanzum.
Acceptance criteria
Clear, logical flows
Common rejection reasons
Missing or inconsistent information
5.3 Payment Service Providers Used
What we ask
Your PSPs and banking partners.
Explanation
Allows assessment of reliance on third parties and potential exposure to high-risk platforms.
Acceptance criteria
Full disclosure
Common rejection reasons
Undisclosed PSPs
6. Identity and Compliance Documents
6.1 Proof of Identity
What it is
Official photo identification.
Explanation
Used to verify the identity of directors, shareholders, and authorized persons.
Acceptance criteria
Valid and readable
Common rejection reasons
Expired or unclear documents
6.2 Proof of Address
What it is
Confirmation of residential address.
Explanation
Ensures accurate personal information for compliance and correspondence purposes.
Acceptance criteria
Recent and complete document
Common rejection reasons
Outdated or incomplete information
6.3 Licence
What it is
Authorization for regulated activities.
Explanation
Required to confirm that regulated services are legally permitted.
Acceptance criteria
Valid and activity-relevant
Common rejection reasons
Licence does not cover activities
6.4 AML, KYC, and Transaction Monitoring Policies
What they are
Internal compliance frameworks.
Explanation
Demonstrate the company’s ability to prevent financial crime and meet regulatory obligations.
Acceptance criteria
Signed, current, and tailored
Common rejection reasons
Generic or outdated policies
6.5 Legal Opinion
What it is
Formal legal confirmation.
Explanation
Used to clarify complex legal or regulatory matters where documentation alone is insufficient.
Acceptance criteria
Issued by a qualified lawyer
Common rejection reasons
Vague or unqualified opinions
6.6 MiCA Compliance
What it is
EU crypto regulatory compliance confirmation.
Explanation
Ensures crypto businesses operate legally within the EU framework.
Acceptance criteria
Evidence of authorization or transitional status
Common rejection reasons
Unsupported compliance claims
6.7 Appointed MLRO
What it is
AML compliance officer information.
Explanation
Confirms accountability for ongoing AML obligations.
Acceptance criteria
Identification and professional background
Common rejection reasons
Missing qualifications or details
6.8 Confirmation of Non-Anonymity Controls
What it is
Written compliance confirmation.
Explanation
Ensures no support for anonymity-enhancing or privacy-focused services that increase financial crime risk.
Acceptance criteria
Signed statement
Common rejection reasons
Support for prohibited services
7. Additional Information Requests
What it is
Case-specific follow-up requests.
Explanation
Additional information may be required to clarify risk, structure, or activity inconsistencies.
Acceptance criteria
Clear, detailed, and consistent responses
Common rejection reasons
Contradictory or vague information
Conclusion
Providing accurate and complete documentation is essential to successfully open a bank account with Kanzum, the trusted solution for international B2B payments. By following this corporate due diligence checklist, you ensure that your company, ownership structure, and financial flows are verified and compliant, reducing onboarding delays and enabling seamless cross-border transactions.