This FAQ covers common questions about the Subotiz Accounts application process, including KYC review, required documents, additional document requests, and application issues.
Review Timelines and Fees
How long does the review take after I submit an application?
- Review hours: The KYC team reviews applications during business hours in Beijing Time (UTC+8).
- Standard timeline: Applications with complete and valid documentation are typically reviewed within the same business day.
- Additional review: The review may take longer if information is missing or additional documents or verification are required.
If your application status has not changed for an extended period, check whether you need to provide additional documents or complete identity verification. If no action is required, contact Subotiz Support or your account manager for assistance.
Is there a fee to apply for Subotiz Accounts?
- Application fees: There is currently no fee to apply for Subotiz Accounts, complete the KYC review, or maintain the account annually.
- Service fees: Foreign exchange, global payouts, and other Subotiz Accounts services may incur fees. Refer to the applicable feature page for current fees.
Business Application Documents
What if my Hong Kong company is less than one year old and does not have an NAR1?
Hong Kong companies incorporated within the past year may submit an NNC1 instead of an NAR1 Annual Return.
When is a shareholding structure chart required?
If the system requests a shareholding structure chart, make sure it meets the following requirements:
- Show ownership relationships: Clearly show all direct and indirect ownership relationships.
- Include ownership percentages: Specify the percentage held by each individual or entity.
- Include a signature or company seal: Have a company director sign the document or affix the company seal.
- Include the date: Specify the date the document was signed or sealed.
Why do I need to declare Ultimate Beneficial Owners (UBOs) with 25% or more ownership?
To meet KYC and anti-money laundering (AML) requirements, Subotiz Accounts must identify the company's Ultimate Beneficial Owners (UBOs).
Provide the required information and identity documents for all individuals or entities that directly or indirectly own 25% or more of the company.
Why does my UBO documentation keep getting rejected?
Check the on-screen requirements and make sure your documents clearly show the UBO's name and ownership interest.
Depending on your business structure, you may need to provide one or more of the following:
- Company registration documents
- Shareholding structure chart
- Share certificate
- Operating agreement
- Other documents showing the shareholders and their ownership percentages
If the company has a single shareholder who owns 100% of the business, make sure the documents clearly show that ownership.
How should I enter representative information for a US company if the representative is a Chinese national?
Enter the representative's nationality and identity information based on the identity document being submitted.
For example, if the company is registered in the United States and the representative is a Chinese national using a mainland China ID card, select China as the representative's nationality and submit the corresponding identity document. The representative's nationality does not need to match the company's country of incorporation.
How should a US sole proprietorship submit ownership documentation?
A sole proprietorship owned entirely by one individual does not need to provide a complex ownership structure chart.
- Enter ownership information: Provide the required owner information based on the actual ownership structure.
- Upload supporting documents: Provide documents showing 100% ownership along with any required business documentation.
Which business entity should I use to apply for Subotiz Accounts?
Where applicable, keep the following business entity information consistent:
- Subotiz store
- Acquiring or payment account
- Subotiz Accounts application
- Bank account
Using consistent business entity information helps streamline the review process and reduces the need for additional verification later.
Additional Documents and Review Issues
What should I do if my application is returned?
Check the reason shown in Subotiz Admin and resubmit the requested documents.
Common reasons include:
- Blurry or unreadable documents
- Expired identification documents
- Incorrect information
- Missing documents
- Missing signatures or company seals
If the issue involves company registration documents, ownership information, or UBO information, make sure the type of document you submit matches the on-screen requirement. For example, a tax identification document cannot replace an official company registration document.
If your application is rejected and you cannot resubmit it, contact your account manager or Subotiz Support for assistance.
What should I submit if my company registration document is rejected?
Submit an official company registration document issued by the relevant government or business registration authority.
For US companies, an EIN document is a tax identification document and does not serve as proof of company registration. If the system requests a company registration document, submit the appropriate official document based on the company's state of registration and entity type.
If the system also requests a shareholding structure chart, director appointment document, or other company documentation, submit each document according to the on-screen requirements.
I received a request for additional documents, but there is no upload option. What should I do?
Complete the following steps:
- Refresh the page: Reopen the application and check whether the upload option appears.
- Verify your account: Make sure you are signed in to the correct store account.
- Contact Subotiz Support: If the upload option is still unavailable, provide:
- Store ID
- Business name
- Screenshot of the page
Do I need to resubmit everything after receiving a request for additional documents?
No. Only upload or replace the documents requested by the system. Information and documents that have already been approved do not need to be submitted again.
How can I avoid delays in my application review?
Before submitting your application:
- Submit clear documents: Upload high-resolution, complete, and unobstructed photos or scans.
- Verify business information: Make sure the company name, registration number, and other information match the official business registration documents.
- Prepare UBO documents: Have the required identity documents ready for all UBOs who directly or indirectly own 25% or more of the company.
- Check file requirements: Make sure all files meet the supported format and size requirements.