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    FAQ — Business KYC
    bybit2024-03-27 02:32:00

    What is KYC?

    KYC (Know Your Customer) guidelines for financial services require that professionals make an effort to verify the identity, suitability and risks involved, in order to minimize the risk to the respective account.




    Why is KYC required?

    KYC is necessary to improve security compliance for all traders. Bybit uses KYC to identify customers and analyze their risk profiles. This verification helps stop money laundering and financing of illicit activities.




    How to Submit a Request for Business KYC Verification?

    To proceed with the Business KYC verification, please kindly submit all the required documents via our secured portal - Business KYC Verification by clicking the “Verify Now” button.

     

     

    Below are the required documents to proceed with the verification. 

    1. Certificate of incorporation

    2. Articles, constitution or memorandum of association

    3. Latest register of members 

    4. Latest register of directors

    5. Information (Name and Nationality) of the Ultimate Beneficial Owner (UBO) owning 25% or more interest in the company. Another verification link will be generated separately via email for the UBOs to verify the identity.  

    6. Passport/ID and proof of residency of all the directors (passport/ID, and proof of address within three months) if different from the UBO

    7. Information of the account operator/trader (passport/ID, and proof of address within 3 months) if different from the UBO

    8. Organization Chart (please follow the screenshot below to clearly illustrate the share distribution)

     

    Once the documents are verified by Bybit, you’ll receive email approval and your daily withdrawal limit will increase.

     

     

     

    Which Bybit products and services do not support Bybit corporate users?

    Products and services listed below are not applicable to Bybit corporate users:

    1. Launchpool

    2. Buy Crypto via Fiat-related Services (P2P Trading, Fiat Deposit, Credit Card Payment, etc.)

    For more information regarding the benefits of different KYC levels, please refer here.

     



    What are the daily withdrawal limits after my company completes Business KYC Verification?

    Please refer to the following withdrawal limits for each KYC level:

     

    VIP Level

    Non KYC

    Business KYC

    Non-VIP

    Daily withdrawal limit ≤ 20K USDT

     

    Monthly withdrawal limit ≤ 100K USDT

    Daily limit  ≤ 4M USDT

    VIP 1

    Daily limit ≤ 6M USDT

    VIP 2

    VIP 3

    VIP 4

    Daily limit ≤ 8M USDT

    VIP 5

    Daily limit ≤ 10M USDT

    Supreme VIP

    Daily limit ≤ 12M USDT

    PRO 1

    PRO 2

    Daily limit ≤ 15M USDT

    PRO 3

    Daily limit ≤ 20M USDT

    PRO 4

    Daily limit ≤ 25M USDT

    PRO 5

    Daily limit ≤ 30M USDT


    Note:
    — Daily withdrawal limit is updated every 12AM (midnight) UTC.
    — Monthly withdrawal limit will reset at 12AM (midnight) UTC on the first day of each month.
    — There is no monthly withdrawal limit for users who have completed Business KYC verification.

    — Your company may be required to provide KYC verification before a withdrawal request can be approved by Bybit.




    Can I have both Individual and Business KYC verified at the same time on a single account?

    No. You can only verify one type of KYC per account. If you would like to verify for Business KYC, we will remove your Individual KYC status after approval. If you need an Individual KYC-verified account for more trading products and service usage, you may register another Bybit account and attempt to complete Individual KYC verification again.




    How should I contact customer support if I have questions that need to be clarified before submitting the documents?

    You may write to us at compliance@bybit.com and we will assist with your inquiry as soon as possible. Alternatively, you may also reach out to our 24/7 live chat support.


    Note: Business KYC applications can only be submitted via our Business KYC Portal. We will not process the documents submitted via email. If you do not have a Bybit account, you need to register a new account and submit the documents via the portal.



    How will the company and individual information submitted be used?

    The information you submit will be used to verify the identity of the company and individual(s). We will keep company and individual documents confidential.

     



    What kind of Proof of Identity documents are accepted?

    Bybit only accepts documents issued by your country of origin which contain the following information: photo, name, date of birth, document number, date of issue. These include passport, identity card, residence permit and driving license. Student Visa, Working Visa or Travel Visa are not accepted. 

     

     

     

    What kind of Proof of Address documents are accepted?

    Proof of Address must be dated within the last three months. Documents older than three months will be rejected. 

    The Proof of address documents accepted by Bybit include:

    1. Utility bills 

    2. Official bank statements

    3. Residential proof issued by government 

    4. Internet/cable TV/house phone line bills

    5. Tax returns

    6. Council tax bills

    7. Government-issued certificates of residence, etc.

     

    Bybit does not accept the following types of documents as Proof of Address:

    1. Domestic Passport

    2. Mobile phone statement

    3. Insurance document

    4. Medical bills

    5. Bank transaction slips

    6. Bank or company referral letter

    7. Handwritten invoice/receipt for purchases

    8. Border passes

     

     

     

    What should I do if the verification link does not work and I cannot submit the identity documents to complete the Business KYC verification?

    If you encounter any issue with the verification link generated via email, please let us know via email (compliance@bybit.com) by replying to the ongoing email thread with the screenshot of the error messages.

     

     

     

    Do Service Restricted Country prohibitions only apply to the Company's registered address?

    No. Service Restricted Country proscriptions apply not only to the entity's registered country but also the nationality or residency of UBO. The verification result may vary, depending on the nature of the institution as well as the shareholding structure. Bybit reserves the right to make the final decision on verification approval. For more information regarding Bybit service-restricted countries, please visit here.

     

     

     

    How long does the business KYC verification process take?

    Generally, the business KYC verification process takes approximately 3-5 business days. Due to the complexity of information verification, Business KYC verification may take longer.




    What should I do if the KYC verification process is unsuccessful for more than one week?

    If you encounter any issues with KYC verification, kindly contact us by submitting a case to our Customer Support. Once you have submitted the case, you’ll receive an automated email with the case number stated. The relevant team will reach out to you within one (1) working day. 





    For Individual KYC verification information, please refer to Individual KYC FAQ.

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