To verify a business, Grey needs proof that your company is real, who controls it, and where it operates. That usually means registration documents, details for the people who own or run the business, and proof of your business address. This article lists what you should have ready before you start.
What is business verification (KYB)?
Business verification, or KYB (Know Your Business), is the process Grey uses to confirm that a company applying for a Grey Business account is real, properly registered, and operated by people it can identify. It works alongside identity verification, which verifies the individuals behind the business, but focuses on the company itself: its registration, ownership, and activity. Grey requires KYB before activating any Grey Business account.
Which documents does Grey need?
Regardless of your company type, you will need to provide the following three core items:
1. Business Registration Document
This is the primary document proving your entity's legal existence. While the specific name of this document varies by region, it must clearly display:
Legal Business Name
Registration Date
Official Business Address
Registration Authority (e.g., CAC, Companies House, or Secretary of State).
2. Official Shareholder Registry
To verify ownership, we require a document listing all owners and their respective ownership percentages.
3. Tax Documentation
You must provide an official government tax document that confirms the Tax ID (TIN/EIN) entered during your application. This ensures the tax identity matches the registered business name.
For detailed steps, see how to complete your KYB verification
Related Persons
Grey collects information about people connected to your business, such as beneficial owners, directors, and shareholders.
For these related persons, you will provide their:
Full name
Email address
Date of birth
Identity Verification Requirements
Identity verification (Government-issued ID + Selfie Verification) must be completed for:
Shareholders who own 25% or more of the business
All listed Directors, regardless of ownership percentage.
If a person holds more than one role in the business, such as being both a shareholder and a director, they only need to complete one ID verification. Grey verifies the individual, not each role they hold.
Frequently asked questions
How long does business verification take?
Typically 4 to 7 business days after all required documents have been submitted, though it can take longer if we need extra information to verify your business.
What if my company is newly registered?
Newly registered companies can still apply, as long as you have your registration documents and can provide proof of business activity, ownership, and address. Verification may take a bit longer if there is limited business history to review.
Can I use Grey Business before KYB is approved?
No. Your account is not activated, and you cannot send, receive, or hold funds until KYB verification is complete and approved.
Why was my KYB rejected?
KYB may be rejected if Grey cannot verify your company, ownership, directors, or business address.
Quick Submission Tips:
Ensure all documents are clear and legible.
Ensure the information on the documents exactly matches the details provided in your application form.
All documents must be submitted in the right format.