South Africa Collections Onboarding + Documents Requirments
Onboarding Requirements for South African ZAR Sub-Accounts
Who this applies to
SA-based companiesThis document set is required for all applications — every SA-registered merchant onboarding onto the platform needs it, regardless of what they intend to use the account for.
Non-SA (foreign) companiesThis is only required for merchants looking to access domestic South African collections and conversion out of south africa — that is, opening a non-resident relationship with Verto's local licensed entity. If a foreign company isn't collecting ZAR domestically in South Africa, this onboarding path doesn't apply to them.
Every merchant onboarding onto a South Africa ZAR sub-account goes through Level 3 KYC. Documentation is uploaded via the Verto API, and each merchant is onboarded as a direct Verto customer — turnaround is T+1 once all required documents have been provided.
Verto can not operate in a reliance model for South Africa, due to license and regulatory restrictions in this market.
What you need to collect depends on where the merchant is incorporated — an SA-based company, or a foreign company. The two paths require different documents, so your integration should branch the upload flow based on incorporation jurisdiction rather than treating all merchants the same.
SA-based company
- CIPC (CoR 14.3) Company Incorporation document
- Beneficial Ownership document from CIPC, or a signed shareholding structure (5% threshold per SA law), or a signed and completed SA Shareholder Declaration
- Colour copy of SA ID (front & back), or certified passport, for each director
- Proof of company address: bank statement or utility bill (≤ 3 months old)
- Proof of residential address for each 5%+ shareholder (≤ 3 months old)
- Signed Verto ↔ end-client mandate
Foreign company
- Company Incorporation document (foreign jurisdiction equivalent)
- Beneficial Ownership document, or a signed shareholding structure verified by an appropriate professional body
- Certified passport copy for each director
- Proof of company address: bank statement or utility bill (≤ 3 months old)
- Proof of residential address for each 5%+ shareholder (≤ 3 months old)
- Signed Verto ↔ end-client mandate
Additional documents may be required on case by case basis, including evidence of operations.
A foreign company doesn't need a CIPC filing, and directors don't need an SA ID — a certified passport is sufficient for every director.
The beneficial ownership document only needs sign-off from an appropriate professional body, rather than a CIPC filing or SA Shareholder Declaration.
South Africa has tigher restrictions then global norm for UBO verification, with 5% mandatory under South Africa regulation.
Quick reference
| SA-based company | Foreign company | |
|---|---|---|
| Incorporation document | CIPC CoR 14.3 | Foreign jurisdiction equivalent |
| Beneficial ownership | CIPC filing, signed shareholding structure, or SA Shareholder Declaration | Signed shareholding structure, verified by an appropriate professional body |
| Director ID | SA ID (front & back) or certified passport | Certified passport |
| Proof of company address | Bank statement or utility bill (≤ 3 months) | Bank statement or utility bill (≤ 3 months) |
| Proof of shareholder address | Required for 5%+ shareholders only (≤ 3 months) | Required for 5%+ shareholders only (≤ 3 months) |
| Mandate | Signed Verto ↔ end-client mandate | Signed Verto ↔ end-client mandate |
Updated about 1 hour ago