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Business verification checklist
Get verified without the back and forth
See exactly what we need to verify your company, trust, SMSF or partnership. Tailor the list to your structure, tick items off as you go, and apply when everything is ready.
Before you start
Three things to know before you apply
Who should apply
A director of the business. If a director cannot apply, an authorised representative can apply with a signed authorisation letter.
How long it takes
Most accounts are verified within 24 hours, provided every document is complete and correct.
What happens next
We review your documents, verify each owner's identity, and let you know as soon as your account is active.
Your checklist
Tailor the list to your structure
Answer a few questions and the list updates to match. Your ticks are saved in this browser, so you can come back to it.
What are you verifying?
Who is the trustee?
Are you a director, trustee or partner?
Business details
0/0Have these ready to type in. You do not need to upload anything for this part.
- Full legal name and country of registration
Plus any business or trading names you use.
- ACN and ABN
Your 9-digit Australian Company Number, and your ABN.
- Foreign company registration number
Your ARBN if registered with ASIC, otherwise the number your home registry issued.
- ABN
If the entity has one.
- The fund's ABN
Every SMSF has one.
- The type of trust
For example discretionary (family), unit, or bare trust.
- Registered business address
- Principal place of business, if different
Where the business actually operates.
- Website, or an active social profile
- What the business does, and its industry
- Annual revenue
- Where your funds or crypto come from
For example trading revenue, investment returns, or member contributions.
- How you will use Blacksheep, and expected monthly volume
For example paying overseas suppliers, or converting to stablecoins for treasury. A rough estimate is fine.
- Politically exposed person (PEP) declaration
Whether anyone who owns or controls the entity holds, or has held, a prominent public role.
Business documents
0/0Upload each document as a PDF, not a photo or screenshot. Extracts and proof of address must be dated within the last 90 days.
- Company extract or register of members
Shows your company details, directors and shareholders. For an Australian company, a current ASIC extract is ideal.
- Certificate of incorporation or registration
Issued by your home-country registry.
- Company extract or register of members
An official document showing current directors and shareholders.
- Fully executed trust deed, with every amendment
All pages, including schedules and any deeds of variation.
- Fully executed SMSF trust deed, with every amendment
All pages, including schedules and any deeds of variation.
- Current ASIC extract for the trustee company
- Partnership agreement
The signed version, including any amendments.
- Proof of business address
A utility bill, bank statement or government letter showing the business name and address, issued in the last 90 days.
- Organisational structure chart
Needed if other companies or trusts hold shares. One page showing every entity and each shareholding percentage. Use the template below.
- English translations of any document not in English
- Signed authorisation letter
A letter signed by a director authorising you to act for the business.
People who verify their identity
0/0Each person below verifies their own identity through the Blacksheep platform. They need their full name, business email and residential address, a passport or driver licence, a quick selfie check, and a PEP and sanctions declaration.
- You, the person applying
- Everyone who owns 25% or more
Directly, or through other companies or trusts.
- One controlling person, such as a director or CEO
Can be the same person as an owner.
- Every partner
- Every individual trustee
- The trustee company's controlling person and 25% owners
- The settlor
Usually named in the deed.
- Any appointor, guardian or protector named in the deed
- Beneficiaries, by name or by class
For a family trust, the class described in the deed is usually enough.
- Every fund member
Document quality
Send it once, in a form we can accept
Most delays come from documents we cannot read or that are missing pages. A quick check before you upload saves a round trip.
We accept
- PDFs of the original document or an official extract
- Every page of a deed or agreement, including amendments
- Fully executed, signed versions
- Extracts and proof of address dated within the last 90 days
We cannot accept
- Photos or screenshots of documents
- Partial deeds, or only the signature pages
- Unsigned drafts
- Extracts or proof of address older than 90 days
- Documents not in English without a translation
Process tip
Get your owners verifying first
Each owner and controlling person verifies their own identity through the Blacksheep platform. Their checks usually set the pace of the whole application, so send them their invites before you gather the rest.
At minimum that is one controlling person and each owner of 25% or more. They can be the same person.
Ownership template
Map your ownership in one table
If other companies or trusts hold shares in your business, list every layer here, copy it into your own document, and upload it with your application.
| Name | Individual, company or trust | Owns or controls | Share or control | Role |
|---|---|---|---|---|
| Example Holdings Pty Ltd | Company | Your business | 60% | Shareholder |
| A. Example | Individual | Example Holdings Pty Ltd | 100% | Director and shareholder |
Frequently asked questions
What documents do I need to open a business account with Blacksheep?
It depends on your structure. A company needs its ASIC extract or register of members and proof of business address. A trust or SMSF needs its fully executed trust deed. The people who own or control the entity each verify their identity through the platform. The checklist on this page tailors the list to your structure.
How long does business verification take?
Applying online takes minutes, with no sales call. Most accounts are verified within 24 hours, provided every document is complete and correct. Each owner verifies their identity individually, so getting them started first is the fastest way through. More complex structures may need a few extra checks.
Can I apply if I am not a director?
Yes. Someone else, such as an employee or adviser, can apply as an authorised representative. You will need a signed authorisation letter from a director, and at least one controlling person, such as a director or CEO, still verifies their identity.
Who counts as a beneficial owner?
A beneficial owner is any individual who ultimately owns 25% or more of the business, directly or through other companies or trusts. For a trust, it also includes the trustees, the settlor, and anyone named in the deed with control, such as an appointor.
Can a trust or SMSF open an account?
Yes. A trust or self-managed super fund can open its own Blacksheep account in its own name. You will need the fully executed trust deed with any amendments. Each trustee, and for an SMSF each member, verifies their identity through the platform.
What if my documents are not in English?
Upload an English translation alongside the original document. If a specific document needs a certified translation, we will tell you.
Why do you need all this?
Blacksheep is registered with AUSTRAC. Australian anti-money laundering and counter-terrorism financing law requires us to verify every business customer, and the people who own and control it, before we provide a service. Every regulated provider has to do the same.
What happens to my information?
We use it to verify your business and meet our AML/CTF obligations, and we keep records for as long as the law requires. Our Privacy Policy explains how we collect, use and store your information.
Blacksheep is a trading name of Blacksheep Operations Pty Ltd (ABN 16 674 111 392), registered with AUSTRAC as a digital currency exchange provider (DCE100860053-001) and as an independent remittance dealer, and registered on the New Zealand Financial Service Providers register. All accounts are subject to business verification (KYB), AML and CTF checks, and acceptance. This checklist is a guide to help you prepare. We may ask for other information depending on your structure and activity.
Begin Your Journey with Blacksheep
Join the community of Australian investors using Blacksheep today
ACN 674 111 392 | ABN 16 674 111 392
Blacksheep Operations Pty Ltd is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as an Independent Remittance Dealer and Digital Currency Exchange provider, registration number DCE100860053-001.
Registered on the New Zealand Financial Services Provider Register, FSP number FSP1009556.
Registered as a Money Services Business (MSB) in Canada, registration number N300000174.
Address: Level 11, 88 Tribune St, South Brisbane QLD 4101
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