Starting point
The client — a small investment fund with a BVI holding and a UAE operating arm — restructured its ownership. After the UBO change Bybit triggered a repeat KYB and:
- locked withdrawals and part of the trading functionality
- requested an updated corporate pack: charter, shareholder registry, UBO declaration
- required proof of source of corporate capital for the past 24 months
- set a 14-day deadline for the full submission
What we did
- Corporate audit (day 1–2). Aligned documents across the BVI holding, UAE operating entity and the trust; flagged inconsistencies between the Certificate of Incumbency and the UBO originally declared to Bybit.
- KYB pack assembly (day 3–5). Sourced apostilled documents from the BVI agent, UAE registry extracts, proof of operating substance (Ejari, DMCC licence) and a source-of-capital declaration backed by bank statements.
- Submission and follow-up (day 6–9). Filed a structured response with a navigation index for the compliance officer; cleared one round of follow-up questions on the trust structure.
- Restrictions lifted (day 10–11). Trading limits fully restored, account moved back to Institutional status, additional withdrawal restrictions removed.
Outcome
Full unfreeze of the corporate account in 11 days, zero losses, Institutional status with preferential fees preserved. The client received an internal playbook for proactively refreshing KYB whenever corporate changes occur.
Takeaway for corporate clients
Any change in UBO, director or ownership structure should trigger a proactive KYB update on the exchange — before compliance spots the discrepancy. The reactive path is always more expensive in time and risk.
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