BRL virtual accounts

KYC and KYB requirements for opening Trace Finance-issued BRL virtual accounts.

Overview

Virtual accounts are issued directly by Trace Finance and used by customers who run their own treasury, intercompany flows, or proprietary commerce on Trace Finance. Verification follows Trace Finance’s compliance baseline only.

• KYB (Know Your Business) applies to company-owned accounts (owner.type = COMPANY).
• KYC (Know Your Customer) applies to individually-owned accounts (owner.type = INDIVIDUAL) and to every beneficial owner (UBO) registered on a company-owned account.

Information is submitted as structured fields on POST /api/accounts and POST /api/accounts/{accountId}/ubos; supporting documents are uploaded against POST /api/documents once the account exists. The full document list for the current account is returned in requirements.currentlyDue on account creation.

For named accounts, see BRL named accounts.

Details

Business

Applies to companies registering a virtual account as the direct customer of Trace Finance. The same baseline covers Brazilian entities and non-residents.

Common information and documents

Submitted on the create-account request:

Field	Format	Notes
owner.legalName	string	Registered legal name on the company’s incorporation document.
owner.taxId.value	string	CNPJ for Brazilian companies; foreign tax identifier for non-residents.
owner.taxId.type	enum	CNPJ for Brazilian companies; the corresponding type for non-residents.
owner.industry	enum	Industry classification. See the create-account schema for the full list.
owner.incorporateDate	yyyy-MM-dd	Optional. Date of incorporation.
owner.isStartup	boolean	Optional. true when the customer is an early-stage company.
owner.address	object	Full registered address (line 1, city, state, country, postal code).

Each beneficial owner (UBO) is registered via POST /api/accounts/{accountId}/ubos:

Field	Format	Notes
name	string	Full legal name.
taxId.value / taxId.type	string / enum	CPF for Brazilian residents; foreign tax ID for non-residents.
address	object	Residential address.
phone	string	Required. Mobile or contact number.
email	string	Required.
ownershipPercentage	number	Optional. Percentage of ownership.
isLegalRepresentative	boolean	Optional, defaults to false. true if the UBO can sign on behalf of the company.

Documents required for the company. Each bullet shows the canonical documentType value for POST /api/documents:

• Articles of association, bylaws, or equivalent constitutional document, registered with the relevant commercial registry (Junta Comercial in Brazil; companies house or equivalent for non-residents, duly apostilled) — ARTICLES_OF_ASSOCIATION or INCORPORATION_ARTICLES.
• Certificate of incorporation or registration — INCORPORATION_CERT.
• Annual revenue declaration, income statement (DRE), or balance sheet — signed by the accountant and the legal representative — FINANCIAL_STATEMENT.
• Registry of directors and shareholders — DIRECTORS_REGISTRY and SHAREHOLDER_REGISTRY.
• Dated and signed organizational chart, if the corporate structure has multiple layers — ORGANIZATIONAL_CHART.
• Articles or financial statements of any corporate shareholder (PJ partner), if applicable — PJ_PARTNER_DOCUMENTS and PJ_PARTNER_FINANCIAL_STATEMENT.
• Power of attorney, when a signatory acts on the company’s behalf — POWER_OF_ATTORNEY or SIGNING_AUTHORITY_PROOF.

Documents required for each UBO:

• Government-issued photo ID — RG (ID_CARD), CNH (DRIVER_LICENSE), passport (PASSPORT), or RNM (RESIDENCE_PERMIT).
• Proof of residence issued within the last 90 days — PROOF_OF_ADDRESS or UTILITY_BILL.

Additional information and documents

The items below apply only when the account owner is itself a regulated payment entity or otherwise handles third-party funds — payment service providers and facilitators, banking-as-a-service providers, virtual-asset service providers (exchanges, custodians, brokers), foreign-exchange correspondents, and other financial institutions. They do not apply to ordinary corporates onboarding for their own treasury, intercompany flows, or proprietary commerce.

Additional information (collected outside the account record today):

• Public website or primary digital channel.
• Declared economic purpose of the account (proprietary treasury, intercompany flow, payment intermediation, etc.).
• Expected monthly volume, with currency.
• Average ticket size, with currency.

Additional documents:

• AML/CTF (PLD/FT) policies and procedures, including the customer’s onboarding process for its own users, the process for monitoring suspicious user transactions, and the designated person in charge of AML-FT and Compliance — AML_POLICY.
• Evidence of the KYC and transaction or wallet monitoring systems in use — KYC_MONITORING_EVIDENCE.
• Operating or regulatory license issued by the competent authority of the jurisdiction in which the customer operates — PROOF_OF_REGULATORY_LICENSE.
• Evidence of source of funds and source of wealth, where the activity profile requires it — EVIDENCE_OF_SOURCE_OF_FUNDS and EVIDENCE_OF_SOURCE_OF_WEALTH.

Individuals

Applies to natural persons opening a Trace Finance virtual account in their own name.

Common information and documents

Submitted on the create-account request:

Field	Format	Notes
owner.firstName	string	Given name.
owner.lastName	string	Family name.
owner.taxId.value	string	CPF for Brazilian residents; foreign tax identifier otherwise.
owner.taxId.type	enum	CPF for Brazilian residents; the corresponding type otherwise.
owner.birthDate	yyyy-MM-dd	Optional. Date of birth.
owner.address	object	Full residential address (line 1, city, state, country, postal code).

Documents:

• Government-issued photo ID — RG (ID_CARD), CNH (DRIVER_LICENSE), passport (PASSPORT), RNM (RESIDENCE_PERMIT), or MRE (ID_CARD).
• Proof of residence issued within the last 90 days — PROOF_OF_ADDRESS or UTILITY_BILL.
• Liveness selfie matched to the photo ID — SELFIE.

Additional information and documents

Required for individuals with non-standard fiscal residency, higher-risk activity, or where the customer’s compliance team requests reinforced diligence. Collected outside the account record unless an explicit documentType is listed.

Additional information:

• Marital status, and the spouse’s full name and CPF when married.
• Tax identification number (NIF or equivalent) in the country of fiscal residence, for non-Brazilian residents.
• Profession, employer name, monthly income, and net worth.

Additional documents:

• Proof of income — required only when the individual is expected to process more than USD 10,000 per month. Most recent income tax return, the last three pay stubs, or equivalent evidence — EVIDENCE_OF_SOURCE_OF_WEALTH.
• FATCA form for individuals classified as foreign or with fiscal residence abroad — OTHER with descriptive metadata.

Related

• BRL named accounts — requirements for named accounts.
• Open multi-currency account — end-to-end flow that submits owner details, uploads documents, and registers UBOs.
• Create an account — request schema for company and individual owners.
• Upload a document — endpoint used to submit each required document.
• Add a UBO — register a beneficial owner for a company-owned account.