Participant: completing your KYC check

Overview

You are taking part in a transaction on a company's share capital. Before a subscription or a transfer of shares can be completed, the company and its advisers must verify the identity of every participant. That is a regulatory requirement, not a formality specific to Kapitable.

Kapitable is the platform the transaction team uses to gather those elements in one place rather than by email. Your documents go to the compliance team who review them; they are not published, and they are not shared with the other shareholders.

Allow about five minutes. You can do it from your phone.

This lesson covers a natural person. If the shareholder is a company, the check is longer and comes in two parts — B1.9 for the company, B1.10 for its legal representative.

What you need

• Your passport or identity card — in colour, valid, fully visible in the frame

• A proof of address less than 3 months old: a utility bill (electricity, water, gas), a bank statement, or a tax document, clearly showing your name and address

Steps

1. Sign in. On your dashboard, open the KYC task under Pending tasks.

2. The start step lists the documents required. Check you have them to hand, then continue.

3. Identity document — upload a clear photo or scan of your passport or official identity card. For an identity card, the front and back are requested separately.

4. Personal information — enter your details exactly as they appear on your identity document: title, first name, last name, date of birth, place, country and department of birth, address, phone, email.

5. Proof of address — upload the document. It must be less than 3 months old and clearly show your name and address.

6. Review and submit — read everything back, tick the confirmation that all the information provided is correct and accurate, then finish.

7. The confirmation appears, and the task disappears from your dashboard.

What happens next

Your information is reviewed by the compliance team, who will tell you the outcome. There is nothing further for you to do.

If something is missing or unreadable, your task will reappear marked KYC Information Incomplete, and it lists what needs fixing — that a document has expired, that no proof of address was provided, that the details do not match the documents.

Open it and you go through the same steps again from the beginning. What you entered before is still there, so in practice you pass through the steps you got right and change only what is listed.

If you cannot get it right, tell the transaction team. They can complete the check for you rather than have you keep trying.

Common questions

The photo of my identity document was refused or is unreadable. Four requirements: a clear, well-lit photo; all the text legible; the document not expired; the document fully in frame. Glare from a laminated document is the most common cause — lay it flat, without flash.

Will my proof of address be accepted? A utility bill, bank statement or tax document, less than 3 months old, in your name and showing your address. A mobile phone bill or an insurance certificate are not listed as accepted.

My address has changed since my identity document was issued. Enter your current main residential address; that is the one the proof of address should confirm. Everything else should match the identity document.

I have to do this for several companies. The check is about you, not about each investment: once only, even if you subscribe in several companies of the group.

I have already submitted my information. You will see that the KYC is complete. There is nothing to redo.

Related

• B1.3 — Participant: your dashboard · where the task appears

• B1.9 — Participant: KYC for a legal entity — the company · the same check for a company

• B1.10 — Participant: KYC for a legal entity — the legal representative · its second half

• B1.5 — Participant: providing your bank details · often the next task

• B1.1 — Participant: why you received an invitation · why you are being asked