KYB ("Know Your Business") is the regulated process of verifying a corporate counterparty before transacting with it. Confirms legal existence, beneficial ownership, sanctions exposure, and adverse media. Required across EU and UK financial services under AMLD5/6 and the UK Money Laundering Regulations.

How is KYB different from KYC?

KYC verifies an individual; KYB verifies a company. KYB always implies KYC of the ultimate beneficial owners and key officers behind the company, but it adds entity-specific checks (registry existence, group structure, shareholder graph, sector licensing).

Is KYB legally required?

In the EU under the 5th and 6th AML directives, yes — for any obliged entity (banks, payment institutions, EMIs, crypto-asset service providers, accountants, lawyers, real-estate agents). In the UK under the Money Laundering Regulations 2017 (as amended). In the US under the Customer Due Diligence rule (31 CFR 1010.230).

How much does KYB cost to implement?

It depends on the model you choose. Full-service KYB/identity platforms typically price per check and do not publish rate cards, so the figure comes from a sales conversation. API-led data providers usually sell an annual contract, also on quote. With Prometiam the registry and sanctions legs are published and flat — €9.99–€29.99/month — with a free tier of 1,000 calls/month. In either model the compliance-officer time and process design are usually the dominant cost.

How long does a KYB check take?

API-driven verification (registry + sanctions) returns in under a second. The full process — including UBO collection, document review, and approval — typically takes 24–72 hours for a straightforward EU SME and longer for offshore-structured groups.

What is KYB (Know Your Business)?

KYB — Know Your Business — is the process of verifying that a company is real, legally registered, and not controlled by sanctioned or high-risk parties before you transact with it. It is the business-entity counterpart to KYC (Know Your Customer, which verifies individuals) and a legal obligation for regulated firms under EU anti-money-laundering law.

KYB vs KYC

KYC verifies a natural person (ID document, liveness, PEP/sanctions screening). KYB verifies a legal entity: its registration, legal form, registered address, directors and officers, ultimate beneficial owners (UBOs), and sanctions exposure — then screens the people behind it.

The 5 KYB verification steps

Confirm the company exists and is active in an official registry (BORME, Companies House, BODACC/Sirene, CRO, KRS).
Verify legal name, registration number, legal form and registered address.
Identify directors, officers and beneficial owners (UBO / UK PSC).
Screen the company and its controllers against sanctions and export-control lists.
Monitor continuously for change — dissolution, insolvency, new sanctions, ownership changes.

KYB regulation in the EU

KYB duties come from AMLD5/6 today and, from 10 July 2027, the EU Anti-Money-Laundering Regulation (AMLR), which mandates beneficial-ownership verification, sanctions/PEP screening, and ongoing monitoring under one EU rulebook enforced by the AMLA authority in Frankfurt.

How Prometiam helps

Prometiam is the EU + UK data and screening layer for KYB: official registry verification across Spain, France, the UK, Ireland, Poland and Norway, UK beneficial ownership (PSC), and sanctions + US export-control screening (44,000+ entities) — one REST API, one key, transparent pricing, free tier. It does not provide natural-person identity verification or adverse-media data; PEP screening is beta and Spain-only (no relatives or close associates).

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Frequently asked questions

What is KYB?: KYB ("Know Your Business") is the regulated process of verifying a corporate counterparty before transacting with it. Confirms legal existence, beneficial ownership, sanctions exposure, and adverse media. Required across EU and UK financial services under AMLD5/6 and the UK Money Laundering Regulations.
How is KYB different from KYC?: KYC verifies an individual; KYB verifies a company. KYB always implies KYC of the ultimate beneficial owners and key officers behind the company, but it adds entity-specific checks (registry existence, group structure, shareholder graph, sector licensing).
Is KYB legally required?: In the EU under the 5th and 6th AML directives, yes — for any obliged entity (banks, payment institutions, EMIs, crypto-asset service providers, accountants, lawyers, real-estate agents). In the UK under the Money Laundering Regulations 2017 (as amended). In the US under the Customer Due Diligence rule (31 CFR 1010.230).
How much does KYB cost to implement?: It depends on the model you choose. Full-service KYB/identity platforms typically price per check and do not publish rate cards, so the figure comes from a sales conversation. API-led data providers usually sell an annual contract, also on quote. With Prometiam the registry and sanctions legs are published and flat — €9.99–€29.99/month — with a free tier of 1,000 calls/month. In either model the compliance-officer time and process design are usually the dominant cost.
How long does a KYB check take?: API-driven verification (registry + sanctions) returns in under a second. The full process — including UBO collection, document review, and approval — typically takes 24–72 hours for a straightforward EU SME and longer for offshore-structured groups.