Setting up a Business Account (KYB)

Getting started

Opening a business account on X4T involves two phases: first we set up the account together with you, then you complete the KYB (Know Your Business) verification yourself in the platform.

Before you begin, it helps to have your company documents ready as digital files (PDF or photo).

Part 1: Requesting your business account

1. Complete the business form

Go to x4t.com/en/business and fill in the form completely.
https://x4t.com/en/business
Please make sure to enter your exact legal company name, your registration and tax number (in Paraguay, the RUC), the email address the account will be operated with, and a contact person who is authorised to represent the company.

2. Create a user account – and leave it unverified

Register a normal account on X4T with the same email address you entered in the business form. Confirm your email address, then log out.
Important: do not start the personal KYC verification in this account. The account has to remain unverified. An account that has already been verified as a private individual can no longer be converted into a business account – in that case a new account with a different email address would be required.

3. We convert your account into a business account

Based on the information from your business form, our team converts your new unverified account into a business account. We will notify you as soon as this is done. From that moment you can log in and start the KYB verification.
After logging in you will see “Business Account Created – Please proceed to complete business verification”. Click Verify Now to begin, or Verify Later to continue at another time.

Part 2: Completing the KYB verification

The verification consists of three blocks, shown as your progress at the top of the window: Company data, Documents and Associated parties. You can pause and continue later at any time.

1. Choose your device

At the start you will see a QR code. Click Continue to proceed on your computer, or scan the QR code to continue on your phone – useful if your documents are only available as photos.
By selecting Continue you accept the End User Terms. Please note that facial recognition is used to verify the identity of the people involved and that the session is recorded on video. Details are available in the Privacy Notice.

2. Find your company

Select your country, then enter your company name and/or your registration number (in Paraguay, the RUC) and click Find company. Entering both values gives a more precise result.

3. Select your company

Choose the matching entry from the results and click Select company. Check that the company name, country and registration number match your documents exactly.
If your company does not appear – for example because it was registered very recently – use “Enter company data manually” and enter the details yourself.

4. Confirm your company information

Found data is pre-filled. Review every field and complete the missing ones. Fields marked with * are mandatory:

• Legal company name – full legal name including the legal form (for example “X4T S. A.”)
• Alternative names – trade names, brands or short forms (optional)
• Registration number and Tax ID
• Country and Company type – registry category (in Paraguay, for example “JURIDICA”)
• Date of incorporation
• Legal Entity Identifier (LEI) – only if your company has one (optional)
• Location of registration and Legal address
• Nature of business – describe concretely what your company does (for example “import and distribution of construction materials”), not just the industry
• Website, Email and Telephone

  
  

  
  These details must match the documents you upload in the next step. Differences in the company name, address or registration number are the most common reason for follow-up questions. Confirm with Confirm and continue.

5. Upload your documents

Documents are requested one category at a time. Each step asks for one document, and you are taken to the next category automatically.
Accepted formats: TIFF, JPEG, PNG, PDF, WEBP, ZIP · PDF up to 30 MB · images up to 6 MB

• Company Registration Document – certificate of incorporation, commercial or public registry extract, articles of incorporation or bylaws, certificate of good standing, or an equivalent official document.
• Proof of Legal Representation – board or shareholders’ resolution, power of attorney, appointment of directors or officers, or a registry extract listing the legal representatives.
• Proof of Business Address – utility bill, bank or account statement, lease agreement, tax notice, or other official correspondence addressed to the company. Ideally no older than 6 months.
• Business Bank Statement – a statement of your company’s main bank or payment account covering a period within the last 3 months, showing the company as the account holder.
• Financial or Tax Statement – audited or unaudited financial statements, annual accounts, balance sheet, profit and loss statement, corporate income tax return, or VAT/sales tax filing. The most recent available period is fine.
• Ownership & Shareholder Structure – shareholder register, UBO declaration, ownership chart, cap table, notarised ownership statement, or a registry extract listing the shareholders, ideally with ownership percentages.

  
  

  
  Please upload complete documents rather than individual pages or cropped sections, make sure all four corners are visible and the text is readable, and combine multi-page documents into a single PDF where possible.

6. Add your key people

Here you register everyone involved in the company:

• UBOs – individuals who own 25% or more of the company. If no UBO can be identified, for example due to public share structures, complex trusts or nominee arrangements, tick the checkbox below this section.
• Shareholders – individuals or entities holding a stake below the UBO threshold.
• Representatives – directors, officers and other individuals who act on behalf of the company. At least one representative is required.

  
  

  
  For each person you provide their name, role, ownership percentage, nationality or country of residence, and an email address. The email address matters: this is where their verification link is sent. Click Continue once everyone has been added.

7. Wait for the personal verifications

The “Awaiting users” overview lists everyone who still needs to complete a personal KYC verification. Each person receives their verification link automatically by email, and their status is shown next to their name (for example KYC PENDING).
If an email does not arrive, use Copy verification link to send the link to that person directly. The page updates automatically as verifications are completed.
Each person needs a valid ID document (passport or national ID card) and a device with a camera.

What happens next

Once all documents have been submitted and all associated parties have completed their KYC verification, our compliance team reviews the application. You will be notified by email as soon as your business account is approved.

If anything is missing or unclear, we will contact you directly. Individual document categories can be re-uploaded afterwards – the parts of the process you have already completed remain saved.

Common issues

• The account was already verified as a private individual – conversion is no longer possible. Please create a new, unverified account with a different email address.
• The company cannot be found in the search – use “Enter company data manually”.
• The company name does not match the document – always use the full legal name including the legal form.
• The bank statement or address proof is too old – bank statements must cover a period within the last 3 months, address proofs should ideally be no older than 6 months.
• The file is too large – PDFs must be under 30 MB and images under 6 MB.
• An associated party did not receive the email – check the spam folder, then use “Copy verification link”.
• The process was interrupted – log in again and continue from the verification prompt. Data you have already entered is saved.

Need help?

If you have any questions about opening or verifying your business account, please contact our support team. We’re happy to guide you through every step.

Updated on: 24/07/2026