Onboarding Requirements
To open an account with Hercle, all clients must complete an onboarding process that includes identity verification and compliance review. The requirements differ depending on whether you are onboarding as a legal entity (company) or as an individual.
To get started, contact us at onboarding@hercle.com and our team will send you the relevant onboarding link.
Legal Entities (KYB)
Onboarding for companies is conducted via Sumsub, our identity and compliance verification platform. You will receive a link to complete the process directly on Sumsub.
Company documents
The following documents must be provided for the entity being onboarded:
Certificate of Incorporation
Bylaws / Articles of Association — latest available version
Company Register Extract — issued within the last 3 months
Shareholder Register, signed by the legal representative — required only if not included in the Company Register; issued within the last 3 months. Complete disclosure of the entire shareholding structure is required
Register of Directors and proof of legal representation authority — issued within the last 3 months
Board Resolution or Power of Attorney — clearly identifying the legal representative(s) authorised to act on behalf of the company
Financial Statements — most recent available, preferably externally filed or audited; if unavailable, a version signed by the legal representative is acceptable
Proof of Business Address — issued within the last 3 months
Ownership Chart — signed by the legal representative, issued within the last 3 months
Source of Funds documentation — documentary evidence of the origin of funds used (e.g. intercompany loan, reserves, shareholder fees, shareholding financing, trust fund, real estate sale, liquidity, or equivalent)
Regulatory licence — if the company is authorised and regulated by an official supervisory body, proof of the relevant licence must be provided
Authorized Traders Form — fully completed and signed by the legal representative (provided by Hercle upon request)
AML Questionnaire for Legal Entities — completed for every company via the dedicated link provided during onboarding. The questionnaire covers the following topics: source of funds and annual revenue, last financial statements, description of business activity, countries in which the company has its main business relationships, business relationships with high-risk jurisdictions, top client sectors and jurisdictions, sectors of operation, pending or past legal proceedings, government or state ownership or control, PEP status among shareholders, directors, or UBOs, receipt of public funds, regulatory authorisation and supervisory body, proof of licence (if applicable), stock exchange listing, statutory audit obligations, appointed business control functions, AML provisions and mandatory KYC procedures, AML policies, Wolfsberg Questionnaire, reason for buying or selling crypto, type of incoming assets, expected monthly trading volume with Hercle, type of wallet from which crypto assets will be sent, and preferred funding currencies
If the company is subject to AML provisions and mandatory KYC procedures, the following additional documents are required:
Wolfsberg Questionnaire — fully completed and up to date
AML policies of the entity
MLRO identification documents (passport or national ID, and CV)
Board resolution appointing the MLRO
UBO and legal representative verification
Each Ultimate Beneficial Owner (UBO) and legal representative must complete individual identity verification via Sumsub. The following is required for each person:
Valid identification document (passport or national ID)
Liveness check
Proof of residential address (e.g. utility bill or last tax return, issued within the last 3 months)
AML Questionnaire for Natural Persons — completed via the dedicated link provided during onboarding. The questionnaire covers the following topics: country and city of residence, full legal address and domicile, country and city of birth, current occupation and professional activity, sector of specialisation, gross annual income and approximate net worth, Tax ID code, source of funds used and supporting proof of funds, pending or past legal proceedings, PEP status and relationships with PEPs, business relationships with high-risk jurisdictions, reason for buying or selling crypto, year of first activity in the digital asset space, type of incoming assets, expected monthly trading volume with Hercle, and preferred funding currencies
Individuals (KYC)
Individual clients must complete the following:
Valid identification document (passport or national ID)
Liveness check
Proof of residential address (e.g. utility bill or bank statement, issued within the last 3 months)
AML Questionnaire for Natural Persons — completed via the dedicated link provided during onboarding. The questionnaire covers the following topics: country and city of residence, full legal address and domicile, country and city of birth, current occupation and professional activity, primary source of personal wealth, business relationships with high-risk jurisdictions, Tax ID code, pending or past legal proceedings, and whether the individual is a Politically Exposed Person (PEP) or has a close relationship with a PEP
Proof of wealth (e.g. tax declaration, last tax return, employment contracts, payslips)
Additional information
The documents listed above represent the minimum requirements. Hercle's compliance team reserves the right to request additional documentation and to conduct Enhanced Due Diligence (EDD) based on the risk assessment arising from the initial review.
Onboarding timelines depend on the completeness and quality of the documentation submitted. Ensuring all documents are current, legible, and correctly signed will help avoid delays.
If you have questions about the onboarding process or need support, contact us at onboarding@hercle.com.
FAQ
How long does the onboarding process take? Timelines vary depending on the complexity of the entity structure and the completeness of the documentation provided. Our team will keep you informed at each stage of the review.
What if my company is pre-operational and does not have financial statements? If financial statements are not yet available, two alternative documents will be required: documentary evidence of the company's source of funds (e.g. capital contributions, shareholder loans, or equivalent), and proof of source of wealth of the UBO(s).
Does Hercle accept KYC already performed by another platform? No. Hercle conducts its own independent identity and compliance verification for all clients, regardless of verifications performed elsewhere.
What is the Wolfsberg Questionnaire? The Wolfsberg Questionnaire is an industry-standard document used to assess the AML/CTF controls of financial institutions and regulated businesses. It is required for clients that are themselves regulated entities (e.g. VASPs, payment institutions, banks). If you are unsure whether this applies to you, our onboarding team will advise.
What is the Authorized Traders Form? The Authorized Traders Form identifies the individuals authorised to operate the account and execute transactions on behalf of your company. It must be signed by the legal representative. Hercle will provide the form as part of the onboarding documentation.
Can I resume an onboarding I started but did not complete? Yes, in most cases the onboarding link remains active. Contact onboarding@hercle.financial to check the status of your application and whether a new link is needed.
Can I sign an NDA before sharing documents with Hercle? All documentation and information submitted during onboarding and throughout the client relationship is treated as strictly confidential. If your organisation requires a formal Non-Disclosure Agreement before proceeding, we can accommodate this in two ways: we can provide you with our standard NDA, or we can review and sign your own NDA if you have one prepared. In either case, please contact compliance@hercle.com and our compliance team will review the terms before signing.
How often do I need to update my KYB documents? All active clients are subject to periodic reviews. The frequency depends on the risk tier assigned to your account at onboarding. You will be notified when a review is due.
Which documents are optional or not always required? Most documents in the onboarding checklist are required for all clients. However, the following apply only in specific circumstances:
Shareholder Register — only required if the shareholding structure is not already included in the Company Register Extract.
Regulatory licence — only required if your company is authorised and regulated by an official supervisory body.
Wolfsberg Questionnaire, AML policies, MLRO documents, and MLRO Board Resolution — only required if your entity is itself subject to AML/KYC obligations (e.g. VASPs, payment institutions, banks). If you are unsure whether this applies to you, our onboarding team will advise.