Why does my sub-merchant have to provide additional documents?

Depending on the sub-merchant, they may get notified about a request for additional documentation requirements, including proof of ownership documentation.

For some sub-merchants, Adyen requires a visual diagram of the ownership and control structure of the legal entity(ies) associated with their company, including the UBOs.

The proof of ownership/control chart must include:

• The full ownership and control structure of all legal entities and UBOs under review, including all intermediate companies.
• The official legal entity name, legal structure, and registered country/region for every entity on the chart.
• The ownership and control relationship between the entities, including ownership percentages.
• Indication of how the criteria for identifying UBOs are fulfilled, for example an individual owning 25% of the total shares of a company.
• A signature confirming the content of the organizational chart, the name and job title of the signing person, and the date of the signature (not older than 6 months from the current date).

If the person signing the organizational chart is one of the following, you do not need to send any additional documents:

• An internal person who is a qualified professional such as a lawyer, accountant or auditor, and whose qualification can be verified through the official website of their professional body. The professional body must be located in the registered country/region of the organization or in the same country/region as another entity in the ownership and control chart.
• An external person or a professional body, certified by a consultancy firm, notary, lawyer, auditor, or other comparable official legal service provider from the registered country/region of the legal entity or entities under review.

External official documents
If the internal person signing the ownership and control chart does not meet the above criteria, you must send official documents that support the submitted ownership and control information. Examples of official documents include:

• Securities register
• Shareholder register
• Ultimate Beneficial Owner register
• Articles of incorporation
• Annual reports
• Annual returns
• Certificate of Corporate Status
• Shareholder Agreements
• Assignment Agreements
• Partnership Agreements
• Board of directors' meeting records of decisions
• Registration document
• Certificate of incumbency

The official document must:

• State the information about the UBOs associated with the legal entity under review, including all intermediate entities involved in the ownership structure
• Not be older than 6 months from the current date
• Be an external document

Note: If your legal entity is located in the Netherlands, Adyen may ask for a UBO extract. This can be downloaded from the KvK website.

These sub-merchants may be required to provide Adyen updated documentation every year (depending on the frequency of their periodic review). You can read more information about proof of ownership documentation on Adyen Docs.