Banks, payment providers and large buyers increasingly ask two questions before they work with a new business: who is really behind it, and is the business itself what it says it is? The first question is answered by KYC, short for “know your customer.” The second is answered by KYB, “know your business.”
WBWO does both checks once, thoroughly, so that the businesses we certify don’t have to prove themselves from scratch to every new partner.
KYC: the people behind the business
KYC confirms the identity of the people who own and run a business. For WBWO certification, that means:
- every person who owns 25% or more of the business, directly or through other companies
- every director
- the person making the application, if they aren’t already one of the above
Each of them sends a valid passport or national ID card and a proof of home address dated within the last three months, such as a utility bill or bank statement. The person applying, or one of the directors, also sends a geotagged photo of themselves at the business premises, taken on a phone with location turned on. We compare it with their ID and check that it was taken at the business address.
We then screen everyone named against international sanctions lists and check whether anyone is a politically exposed person. You don’t need to send anything for that part: we do it ourselves.
How long it takes: usually 1 to 3 working days once everyone has completed their check.
KYB: the business itself
KYB confirms that the business is legally registered, that its ownership is what it says, and that it really trades. We check what you send against official company registries and tax records wherever we can.
The core documents are:
- your certificate of incorporation or business registration
- your constitution, such as memorandum and articles of association
- a shareholder register or ownership chart showing everyone with 25% or more
- the latest registry filing that names your directors
- proof of your business address, dated within the last three months
- your tax identification number, and VAT or GST registration if you have it
- statements from your business bank account
- any licence your sector requires
We also check that your website, domain and listings match your registered details.
How long it takes: usually 5 to 10 working days.
What you send depends on your category
You choose the membership category you register in, and each category asks for different evidence. The aim is the same throughout: to show that the business is registered, that its owners are known, and that it deals honestly with tax and with its workers.
Startups
Startup is our entry category. Tax documents are optional: send any accounts or tax returns you already have, and they’ll help your review. We do ask for a cancelled cheque from the business bank account and two recent invoices or contracts that show real trading.
Small businesses
In the Small business category, tax documents are optional too. If you have them, your latest tax return, VAT or GST returns, a tax compliance certificate or your latest accounts all help your review. Every business sends a cancelled cheque, or a bank letter, for its business bank account.
Mid-sized businesses
In the Mid-sized business category, the tax returns and accounts cover the last three years, and the accounts must be reviewed or audited by an independent accountant. If you have written health and safety or anti-bribery policies, send those too.
Large companies and groups
In the Large company or group category, ownership checks reach further: we ask for a group chart from the parent company down to every subsidiary, naming the ultimate owners. Tax returns and audited financial statements cover the last three years, including consolidated group accounts, and we ask for your anti-bribery, health and safety, and supplier conduct policies.
Why WBWO checks how you treat workers
Welfare is part of our name. Every applicant sends a workforce declaration, covering headcount, types of contract, and confirmation that you pay at least the legal minimum wage, plus proof that you’re registered as an employer for social security or payroll tax if you employ staff.
What happens to your documents
Only our verification team and your assigned auditor can see what you send. Your public WBWO record shows your business name, WBWO number, country, sector, certification status and audit dates, and nothing else. It never shows your documents, your owners’ details or your figures.
We keep KYC and KYB records for five years after your membership ends, so we can answer questions about past certifications, and then delete them.
Getting ready
The quickest applications are the ones where everyone named has their ID and proof of address ready before starting. The certification page lists exactly what your stage of business needs, and you can tick documents off as you gather them.