Allowed Business Types for Allowances

Written by Konky Wang
November 5, 2024

Currently, the embedded financial services are offered only to organisations of the following types (legal forms of the company/organisation):

• Private limited liability company (Ltd Co / LLC/ inc / GmbH)
• Partnerships (including Scottish limited partnership (SLP))
• Public limited company (plc)
• Sole traders (currently applicable to the UK and Italy only)

Onboarding and KYB cannot be offered to other organisation types.

Frequently encountered organisation or business types which are NOT supported for KYB include:

• Non-profit organisation (please enquire based on jurisdiction)
• Educational establishment
• Trust
• Unincorporated trust or foundation
• Sports club
• Governmental body
• Organisation under a royal charter
• Industrial and provident society
• Private company limited by guarantee
• Fund
• Special Purpose Vehicle
• Housing association
• Companies in liquidation, administration, or receivership (LARs)

For other onboarding businesses/organisations from the not-supported list above, please contact us.