Sheepy verification guide

All merchants are required to complete the onboarding and verification process before accessing Sheepy services. Verification is divided into two stages: Know Your Business (KYB) and Know Your Customer (KYC).

Documents must be submitted through the merchant’s Sheepy account in the Verification section or sent to [email protected].

Know Your Business (KYB)

The following documents are required for company verification:

1. Recent company registry extract (issued within the last three months) or Certificate of incorporation / registration
2. Shareholder, Director, and UBO registry/certificate (issued within the last three months)
3. Memorandum and/or Articles of association (required only if a company registry extract is not provided)
4. Business license or proof of authorization (for companies conducting regulated activities)
5. Proof of domain ownership - document from the domain registrar confirming that the verified company owns the domain used on its website
6. IBAN certificate - confirmation of the company’s operational bank account, submitted manually via email to [email protected]. Required only if the merchant uses a bank or payment account for settlements

Each document must originate from an official or verifiable source, such as a government registry, corporate register, or licensing authority. Documents obtained from unofficial or unverifiable sources are not accepted.

Please note that the specific documents required may vary depending on jurisdiction and other relevant factors. We reserve the right to request additional documentation as necessary to comply with applicable laws and regulations. It is your responsibility to ensure that all provided documents are accurate, complete, and up to date.

Know Your Customer (KYC)

KYC verification starts after all KYB documents are received and approved. It is required for all directors/representatives, shareholders (include corporate shareholders), and ultimate beneficial owners. Each person receives a verification link via Sheepy’s partner Sumsub, valid for 7 days.

Accepted identification documents (one of the following):

1. Passport (valid for at least 3 months)
2. National ID card (valid for at least 3 months)
3. Residence permit

Proof of residential address

Merchants can verify their address using GPS-based proof of address by enabling location services on their device. If location sharing is disabled, verification can be completed by uploading one of the listed proof-of-address documents.

1. Bank statements
2. Utility bill for gas, electricity, water, internet, etc.
3. Letters from a recognized public authority or public servant/any government-issued correspondence
4. Credit card statements
5. Employer’s certificate for proof of residence

Documents must be issued within the last three months.

Document standards and authenticity

All documents must be:

1. Clear, complete, and provided in full color
2. Valid at the time of submission

Sheepy accepts only genuine documents issued by official sources. Copies are accepted if they are clearly obtained from the original source, such as a government authority or a corporate registry.

File upload requirements

Documents must comply with the following technical parameters:

1. Accepted formats: JPG, PNG, HEIC, WEBP or PDF
2. Maximum file size: 50 MB
3. Files must not be compressed, cropped, or blurred
4. Multi-page documents must be uploaded as separate files
5. Screenshots are not accepted

Website and domain verification

As part of the KYB process, Sheepy conducts an online presence review.

The verified company:

1. Must be clearly named in the Terms of Use (ToU) as the operator or service provider
2. Must provide proof of domain ownership confirming that the verified entity controls the domain used on its website
3. Undergoes traffic source verification to confirm legitimate business activity

Review and update policy

Verification is completed within one to five business days after all documents are received.

Additional documents are required whenever necessary to confirm ownership, source of funds, or business activity.

If any company information changes, including ownership, directors, address, or banking details, the merchant must notify Sheepy without delay and submit updated documents immediately after such changes occur.

All verification-related communication must be sent to [email protected].