As part of the verification process in the UAE and Singapore, we are required to verify the ultimate beneficial owners of your business. This may include owners from holding companies if your business is partially or wholly owned by other entities.
Important! You will need to upload a single PDF document containing the proof of registration documents for both your business, as well as any holding companies. You can find instructions on how to merge PDF documents below. If you do not merge PDF documents, verification will fail!
Any individual person who holds 25% or more ownership share of the business must be added to the Stripe account as an owner and provide their documents for verification. If a holding company owns a larger than 25% stake in your company, you’re required to upload a business registry document for that company and enter any individual that owns a larger than 25% stake, either directly or indirectly.
If no beneficial owners hold more than a 25% stake, we'll need to verify business owners with a stake - directly or indirectly - equal to or greater than 10%.
Example: Example LLC - a holding company - owns a 40% stake in your business and John Doe holds 75% shares of Example LLC. You will need to upload a proof of registration document of the holding company and John Doe should be keyed in as a beneficial owner of your business, because he indirectly owns more than 25% of the business; 30% to be exact (75% * 40%).
To confirm the ultimate beneficial ownership of your company, we require you to upload proof of registration documentation - both for your business and for any holding company - in a single PDF file:
Any individual person who holds 25% or more ownership share of the business must be added to the Stripe account as an owner and provide their documents for verification.
If your business is partially or wholly owned by another legal entity, the individual owners of that business should be added to your Stripe account as owners if they ultimately have a 25% or more ownership share of your business. These owners may not be involved in the operation of your business but are still required to be present on the Stripe account as they are legally beneficial owners.
The memorandum of association (or equivalent document) for all legal entities with 25% or more ownership of your business will need to be uploaded for verification also. This document is required to identify which beneficial owners are required to be present on the Stripe account.