Trade Finance

Introduction

Product specifications

Trade Finance is a product that enables your business customers to finance their trade purchases using a trade credit line issued by Solaris.

In the Trade Finance user flow, business customers apply for trade credit lines through your frontend; when Solaris accepts them, they can request payouts for individual business purchases in the form of trades. This allows businesses to make large purchases that they can then pay back after they have sold the items.

Customers can request trades in Euros and US Dollars.

Trades can be paid back over 30, 60, or 90 days. The customer must pay the full amount of the trade (and any fees you have attached) in one payment on the due date.

This guide explains how to onboard business customers for the Trade Financing product.

System prerequisites

Before integrating Solaris' Business Fronting loans, you must implement the following requirements in your solution:

1. Technical setup:

Set up your environment and get your authentication keys. For step-by-step instructions, check the Technical setup guide.

2. Legal and compliance screens:

Build the necessary legal and compliance screens in your sign-up flow to collect your customers' consent to the necessary legal and compliance requirements.

Create the following screens and record your customers' consent on each screen as a UTC timestamp (e.g., 2019-01-01T00:00:00Z). Afterward, you must pass each timestamp in its respective field to Solaris.

• Collect the customer's consent to Solaris' Terms and Conditions and store the timestamp in the terms_conditions_signed_at field.
• Collect the customer's consent to data processing and store the timestamp in the data_terms_signed_at field.

For step-by-step instructions, check the Legal and compliance screens guide.

Webhooks

Solaris recommends subscribing to the following webhook events to better automate your processes:

• BUSINESS_IDENTIFICATION: Triggered when the status of a business identification changes.
• LEGAL_REPRESENTATIVE: Triggered when a legal representative is linked or unlinked to a business.
• BENEFICIAL_OWNER: Triggered when a beneficial owner is linked or unlinked to a business.
• IDENTIFICATION: Triggered when the status of a person identification changes.
• BUSINESS_CHANGED: Triggered when one or more attributes of the business object change. Contains only business_id and no payload.
• PERSON_CHANGED: Triggered when one or more attributes of the person object change. Contains only person_id and no payload.
• BUSINESS_DELETED : Triggered when the business resource is deleted from our system.
• PERSON_DELETED : Triggered when the person resource is deleted from our system.
• IDENTIFICATION_SESSION: Triggered when the status changes for an identification session.

For detailed instructions on implementing Solaris webhooks, see the webhooks documentation.

Integration flow

Integration steps

Onboard business customers for Trade Finance by completing the following steps:

Business registration

1. Collect the mandatory business data in your sign-up flow, and create a business resource for your customer by completing Step 1.
2. Collect the mandatory data from each of the business' legal representatives, including the consent to the legal and regulatory requirements in your sign-up flow, and create a person resource and assign the legal representative role to this person by completing Step 2.
3. Collect the mandatory data from each of the business' beneficial owner(s), including the FATCA relevance indication in your sign-up flow, and create a person resource and assign the beneficial owner role to this person by completing Step 3.
4. Upload the required business documents by completing Step 4.

Trade Finance application

1. Create a Trade Finance application for the business by completing Step 5.
2. Attach the business's documents to the Trade Finance application.

Business identification process (BKYC)

1. Trigger the business identification flow by completing Step 6.
2. Redirect all of the business' legal representative(s) to complete the video identification process with IDnow.
3. Implement the compliance questions endpoints related to the business' legal identification process. Make sure to redirect the questions (if any) to the business' legal representative(s) and provide the answers to Solaris on time.
4. Ensure that the business' legal identification and the video identification of legal representative(s) are both successful.
5. Ensure all the Customer Due Diligence related properties in the business object are green. In case of any red or yellow status value, abort the customer onboarding process.

Credit scoring

Solaris will run a credit risk assessment for the customer. If the assessment returns a positive result, then Solaris will issue the trade credit line. You can check the status and get the details using GET Retrieve a Trade Finance application. Afterward, the business can request individual trades within the credit line.

Trade requests

1. When your customer requests a trade, submit the necessary information to Solaris using POST Request a trade.
2. Collect the invoice for the trade purchase from the customer and attach it to the trade request using POST Attach document to trade.

3. (Initial onboarding only) When Solaris approves the trade, create an account for the customer with the type CHECKING_BUSINESS_CREDITLINE. Then, attach it to the trade credit line.

   • You can check the status of the trade request using GET Retrieve a trade.

Step 1: Collect business data and create business resource

The customer must provide the mandatory data points in your sign-up flow, including all the timestamps of the business's consent to the legal and compliance screens. Afterward, you pass all the data points to Solaris by creating a business resource to represent your customer.

API reference

For a complete list of endpoints, properties, and examples related to the business resource, visit the following links:

• Business resource API reference:

  • POST Create business
  • GET Retrieve business
  • PATCH Update business

Related webhook events

• BUSINESS_CHANGED
• BUSINESS_DELETED

POST Create a business

This endpoint creates a business resource for your customer. You must collect the following mandatory data points from the customer in your sign-up flow and pass it to Solaris in the request body of this endpoint:

• name

• address

  • line_1
  • line_2
  • postal_code
  • city
  • country
• sector
• legal_form
• nace_code
• foundation_date
• crs_company_type or registration_type
• business_purpose

• tax_information

  • tax_country
  • tax_confirmation
  • registration_issuer: For Germany, it must be preceded by AMTSGERICHT (e.g., AMTSGERICHT Berlin).
  • registration_number
• registration_district
• terms_conditions_signed_at
• data_terms_signed_at
• balance_sheet_total
• number_employees

Request URL:

POST /v1/businesses

Click here to view the full API reference.

Automatic data collection (Optional)

Simplify your customers' onboarding process by opting for the automatic data collection feature. With our external service provider, Business Registry, customers can enter the country and company name, and the remaining business data fields will be automatically filled out.

GET Search for business commercial registration

The customer enters the company's name and country on your frontend and you pass this information using the following endpoint to automatically fetch the business' registration_issuer and registration_number:

Request URL:

GET /v1/commercial_registrations/search_by_name?country={{}}&name={{}}

Example response

{
  "name": "FLOOR 13 GmbH",
  "registration_number": "HRB 198673",
  "registration_issuer": "AMTSGERICHT MÜNCHEN"
}

Click here to view the full API reference.

GET Automatic business data collection

Use the following endpoint to automatically retrieve the remaining business details after obtaining the registration_issuer and registration_number from the response of the previous endpoint:

Request URL:

GET /v1/commercial_registrations/find?registration_number={{}}&registration_issuer={{}}

Example response

{
  "name": "FLOOR 13 GmbH",
  "address": {
    "country": "DE",
    "postal_code": "86919",
    "city": "Utting a.Ammersee",
    "line_1": "Seestraße 9",
    "line_2": ""
  },
  "legal_form": "GMBH",
  "tax_country": "DE",
  "registration_number": "HRB 198673",
  "registration_issuer": "AMTSGERICHT MÜNCHEN",
  "registration_date": "2012-05-09",
  "registry_updated_at": "2015-11-17",
  "legal_representatives": [
    {
      "first_name": "Stefan",
      "last_name": "Schneider"
    }
  ]
  "commercial_registry_industry_key": [
      "66190 - Sonstige mit Finanzdienstleistungen verbundene Tätigkeiten",
      "70109 - Sonstige Verwaltung und Führung von Unternehmen und Betrieben",
      "70220 - Unternehmensberatung",
      "73110 - Werbeagenturen"
  ]  
}

Click here to view the full API reference.

Foreign companies examples

If the company is not registered in Germany, you can still use this service for companies in other countries. The following examples describe how to find the business registration details for a French company.

GET Search for business commercial registration (France)

Request

GET v1/commercial_registrations/search_by_name?name=PARISOL&country=FR

Response

{
  "name": "PARISOL",
  "registration_number": "513 937359",
  "registration_issuer": null
}

GET Automatic business data collection (France)

Request

GET  /v1/commercial_registrations/find?registration_number=513937359&country=FR

Response

{
  "name": "PARISOL",
  "address": {
    "country": "FR",
    "postal_code": null,
    "city": "NANTERRE",
    "line_1": "RUE D ARRAS 18",
    "line_2": ""
  },
  "legal_form": null,
  "tax_country": "FR",
  "registration_number": "513 937359",
  "registration_issuer": null,
  "registration_date": "2009-07-27",
  "registry_updated_at": null,
  "legal_representatives": [
    {
      "first_name": "Stefan",
      "last_name": "Schneider"
    }
  ]
}

After creating a business resource, you must create the natural person(s) associated with the business and assign them to their respective roles. The natural person(s) are represented in our system by a person resource that contains their data, and then you must assign each person a dedicated role. The mandatory roles are Legal Representative and Ultimate Beneficial Owner.

Step 2: Create Legal representative(s)

In this step, collect the mandatory data points from the business' legal representative(s) and create a person object for each representative. Then create a legal_representative resource and link it to the corresponding person object.

What is a legal representative?

Legal representatives can be natural persons (individuals) or legal entities (businesses) appointed by a company to act on its behalf. The legal representative(s) of a company may be, for instance, its general manager(s) or its managing director(s). The names of a business' legal representatives (Gesellschafter) are usually recorded in the company's commercial register.

Legal representatives as legal entities

A business' legal representative could be a legal entity instead of a natural person. For example, the legal representative of a GbR company could be another GmbH or AG company.

In this case, you must do the following:

• Collect the business data of the legal entity acting as the legal representative and create a business resource for it.
• The natural persons who are the legal representatives of this legal entity are then the ones who will go through the KYC flow.

2.1 Create person resource(s) for each legal representative

For each of the business' legal representatives, you must collect the following mandatory information and pass them to Solaris by creating a person resource.

API reference

For a complete list of endpoints, properties, and examples related to the person resource, visit the following links:

• Person resource API reference:

  • POST Create person
  • GET Retrieve a person
  • PATCH Update person

Related webhook events

• PERSON_CHANGED
• PERSON_DELETED

POST Create person (Legal representative)

Call this endpoint to create a person resource for the business' legal representative. You must collect the following mandatory data points in your sign-up flow and pass it to Solaris in the request body of this endpoint:

• salutation
• first_name
• last_name

• address

  • line_1
  • line_2
  • postal_code
  • city
  • state
  • country
• birth_date
• birth_city
• birth_country
• nationality
• mobile_number

Request URL:

POST /v1/persons

Click here to view the full API reference

2.2 Create legal representative resource(s)

For each person resource you created in the previous step, you must create a legal_representative resource, and set the value of the legal_representative attribute to its associated person_id.

POST Create legal representative

API reference

For a complete list of endpoints, properties, and examples related to the legal_representative resource, visit the following links:

• Business Legal Representative resource API reference:

  • POST Create a business legal representative
  • GET Index a business legal representatives
  • PATCH Update a business legal representative

Related webhook events

• LEGAL_REPRESENTATIVE

POST Create legal representative

Call this method to create a legal_representative resource on the business and link a person to the business as a legal representative.

Attributes

• type_of_representation: A legal_representative could have a type_of_representation, which indicates whether this legal representative can make decisions alone or jointly with other legal representatives. This attribute is optional. Possible values are ALONE, JOINT, or OTHER.
• power_of_attorney_confirmed_at: In case of JOINT representation, legal representatives need to confirm the power of attorney's timestamp in the power_of_attorney_confirmed_at attribute.

Request URL:

POST /v1/businesses/{business_id}/legal_representatives

Click here to view the full API reference.

Step 3: Create Ultimate Beneficial Owner(s)

In this step, you must do the following:

• Collect the mandatory data points from the business' beneficial owner(s) and create a person object for each beneficial owner.
• Create a beneficial_owner resource and assign it to its corresponding person object.
• Include the definition of the beneficial owner in your UI.

What is a Beneficial Owner?

The Beneficial Owners (BO) are natural persons who, directly or indirectly, own more than 25% of a company's shares.

According to the German Money Laundering Act (Geldwäschegesetz - GwG), a Beneficial Owner is a natural person who:

• Ultimately owns or controls the business.
• On whose behalf a transaction is ultimately carried out.
• On whose behalf a business relationship is ultimately established.

Beneficial owner legal definition

Please ensure that the beneficial owner's full definitions and the checkbox are available to your customers in your sign-up flow.

Full definition in English

The ultimate beneficial owner in the sense of the German Money Laundering Act (Geldwäschegesetz - GwG) is the natural person who ultimately owns or controls the contracting party, or on whose behalf a transaction is ultimately carried out or a business relationship is ultimately established. This particularly includes: 1. In case of legal persons, foundations without legal capacity and, in the case of other companies, any natural person who directly or indirectly holds more than a 25% share of the capital, controls more than 25% of the voting rights or exercises control in any comparable manner (+). Establishing the identity of the beneficial owner can be waived, though, for companies that are listed in an organised market in the EU with in accordance with Sec on 2 para. 5 of the Securities Trading Act or, in case of listed companies from a third country, if they are subject to EU-equivalent transparency requirements regarding voting rights or equivalent international standards; 2. In case of foundations or other legal arrangements with legal capacity (or similar) used to manage or distribute assets or property as trustee (trust management), or through which third parties are instructed with the management or distribution of assets or property, the ultimate beneficial owner is:

• any natural person who is a trustor/settlor, trustee or protector, if applicable
• any natural person who is a member of the board of the foundation,
• any natural person designated as a beneficiary,
• the group of natural persons in whose favour the assets are mainly to be administered or distributed, provided that the natural person who is to be the ultimate beneficial owner of the assets or property has not yet been determined
• any natural person who, by any other means, directly or indirectly exercises control over the asset management or property or the distribution of income.

3. In the event of acting on behalf of another party, the ultimate beneficial owner includes the party upon whose initiative the transaction is performed. If the contracting party acts as a trustee, he also acts on behalf of another party. (+) Indirect control exists particularly if corresponding shares are held by one or more associations pursuant to Sec on 20 para. 1 GwG which are controlled by a natural person. Control exists particularly if the natural person can directly or indirectly exert a controlling influence on the association pursuant to Sec on 20 para. 1 GwG. Sec on 290 para. 2 to 4 German Commercial Code (Handelsgesetzbuch - HGB) applies mutatis mutandis to the existence of a controlling influence. If, after extensive audits have been performed and without the facts according to Sec on 43 para. 1 GwG applying, no natural person has been identified or if there is any doubt that the identified person is the ultimate beneficial owner, the ultimate beneficial owner shall be the legal representative, managing partner or partner of the contracting party.

Full definition in German

Wirtschaftlich Berechtigter im Sinne des Geldwäschegesetzes, ist die natürliche Person, in deren Eigentum oder unter deren Kontrolle der Vertragspartner letztlich steht, oder auf deren Veranlassung eine Transaktion letztlich durchgeführt oder eine Geschäftsbeziehung letztlich begründet wird. Hierzu zählen insbesondere: 1. Bei juristischen Personen, außerrechtsfähigen Stiftungen und bei sonstigen Gesellschaften jede natürliche Person, welche unmittelbar oder mittelbar mehr als 25 Prozent der Kapitalanteile hält, mehr als 25 Prozent der Stimmrechte kontrolliert oder auf vergleichbare Weise Kontrolle ausübt(2). Auf die Abklärung des wirtschaftlich Berechtigten kann aber verzichtet werden bei Gesellschaften, die innerhalb der EU an einem organisierten Markt im Sinne des § 2 Abs. 5 des Wertpapierhandelsgesetzes notiert sind, oder bei börsennotierten Unternehmen aus einem Drittstaat, wenn sie dem Gemeinschaftsrecht entsprechenden Transparenzanforderungen im Hinblick auf Stimmrechtsanteile oder gleichwertigen internationalen Standards unterliegen; 2. Bei rechtsfähigen Stiftungen und Rechtsgestaltungen, mit denen treuhänderisch Vermögen verwaltet oder verteilt oder die Verwaltung oder Verteilung durch Dritte beauftragt wird, oder diesen vergleichbaren Rechtsformen zählt zu den wirtschaftlich Berechtigten:

• jede natürliche Person, die als Treugeber, Verwalter von Trusts (Trustee) oder Protektor, sofern vorhanden,
• jede natürliche Person, die Mitglied des Vorstands der Stiftung ist,
• jede natürliche Person, die als Begünstigte bestimmt worden ist,
• die Gruppe von natürlichen Personen, zu deren Gunsten das Vermögen hauptsächlich verwaltet oder verteilt werden soll, sofern die natürliche Person, die Begünstigte des verwalteten Vermögens werden soll, noch nicht bestimmt ist,
• jede natürliche Person, die auf sonstige Weise unmittelbar oder mittelbar beherrschenden Einfluss auf die Vermögensverwaltung oder Ertragsverteilung ausübt.

3. Bei Handeln auf Veranlassung zählt zu den wirtschaftlich Berechtigten derjenige, auf dessen Veranlassung die Transaktion durchgeführt wird. Soweit der Vertragspartner als Treuhänder handelt, handelt er ebenfalls auf Veranlassung.

3.1 Create person resource(s) for each beneficial owner

For each of the business' beneficial owners, you must collect the following mandatory information and pass them to Solaris by creating a person resource.

POST Create person (Beneficial owner)

Call this endpoint to create a person resource for the business' beneficial owner. You must collect the following mandatory data points in your sign-up flow and pass it to Solaris in the request body of this endpoint:

• first_name
• last_name

• address

  • line_1
  • line_2
  • postal_code
  • city
  • state
  • country
• birth_date
• nationality

Request URL:

POST /v1/persons

Click here to view the full API reference

3.2 Create beneficial owner resource(s)

For each person resource you created in the previous step, you must create a beneficial_owner resource, and set the value of the person_id attribute to the id of the associated person resource.

POST Create beneficial owner

API reference

For a complete list of endpoints, properties, and examples related to the beneficial_owner resource, visit the following links:

• Business Beneficial Owner resource API reference:

  • POST Create a business beneficial owner
  • GET Retrieve a business beneficial owner
  • PATCH Update a business beneficial owner

Related webhook events

• BENEFICIAL_OWNER

POST Create beneficial owner

Call this method to create a beneficial_owner resource on the business and link a person to the business as a beneficial owner. You must add the following properties in the request body of this endpoint:

• person_id: The ID of the person resource you created for the beneficial owner.
• voting_share: The beneficial owner's voting share in the business.

Request URL:

POST /v1/businesses/{business_id}/beneficial_owners

Click here to view the full API reference.

Step 4: Upload business documents

In this step, you must do the following:

• Collect the required documents from the business in your sign-up flow. The required documents depend on different factors, such as the business's legal form, sector, etc. Check the appendix for a list of required documents per legal form.
• Upload the documents to Solaris by creating document resources for all the collected documents and attach them to the business.

API reference

For a complete list of endpoints, properties, and examples related to the business document resource, visit the following links:

• Business Documents API Reference Documentation:

  • POST Create a business document
  • GET Retrieve a business document
  • GET Download business document
  • PATCH Update a business document
  • DELETE Delete a business document

POST Upload a document

This endpoint uploads a document and links it to the business with the business_id specified in the request URL.

You have to add the following properties to the request body:

• document_type: The document type. For a list of possible values, check the API reference.
• file: The file to be uploaded.

Request URL

POST /v1/businesses/{business_id}/documents

Click here to view the full API reference..

Step 5: Create Trade Finance application

Now you must create a Trade Finance application for the customer. Submit the following data points in the API call listed below:

• requested_credit_line: The amount of money requested for the business's trade credit line (in Euro cents).
• recipient_iban: IBAN of the account where the trade loans should be paid out.
• partner_score: An optional scoring value to apply to the Trade Finance application. The value A will cause the application to be accepted automatically.
• partner_reference_number: Your internal reference number for the Trade Finance application.
• partner_contact_number: The telephone number of a contact person in your organization.
• partner_contact_name: The name of a contact person in your organization.
• nominal_interest_rate: The nominal interest rate to apply to the trade credit line, expressed as a value between 0.0 (i.e., 0%) and 1.0 (i.e., 100%) with up to four decimal places. For example, 0.01 would apply a nominal interest rate of 1% to the trade credit line.
• identification_id: ID of the relevant business identification.
• creditreform_score: The score calculated for the business by a credit risk agency (e.g., Credit Reform).
• creditreform_pd: The probability of default calculated for the business by a credit risk agency (e.g., Credit Reform).
• application_date: The date when the business submitted the application.

POST Create Trade Finance application

Request URL:

POST /v1/businesses/{business_id}/trade_finance_applications

Example request:

{
    "requested_credit_line":
    {
        "value": 100000,
        "currency": "EUR",
        "unit": "cents"
    },
    "recipient_iban": "DE32110101001000000029",
    "partner_score": "B",
    "partner_reference_number": "3738dbd0-a547-4c11-99e7-770066a39292",
    "partner_contact_number": "+49303003000",
    "partner_contact_name": "Magda Musterfrau",
    "nominal_interest_rate": 0.02,
    "identification_id": "4c74c804eaea5d2a2d64ef400a27a4d3bid",
    "creditreform_score": 0.02,
    "creditreform_pd": 0.3,
    "application_date": "2022-05-31"
}

Example response:

The API will return the trade_finance_application resource. It will have an initial status value of PENDING. Solaris will run a credit risk assessment on the business and then decide on the application. Use the GET endpoint below to check on the application status.

{
    "status_detail": "Application is created",
    "status": "PENDING",
    "requested_credit_line":
    {
        "value": 100000,
        "unit": "cents",
        "currency": "EUR"
    },
    "recipient_iban": "DE11200144559095555555",
    "partner_score": "B",
    "partner_reference_number": "3738dbd0-a547-4c11-99e7-770066a39292",
    "partner_contact_number": "+49303003000",
    "partner_contact_name": "Magda Musterfrau",
    "nominal_interest_rate": 0.02,
    "identification_id": "4c74c804eaea5d2a2d64ef400a27a4d3bid",
    "id": "fb7e312ee0e24148b2bc90c0cbe565bc",
    "creditreform_score": 0.02,
    "creditreform_pd": "0.3",
    "application_date": "2022-05-31"
}

Click here to view the full API reference.

POST Attach documents to Trade Finance application

You must call this endpoint to attach the business's documents to their Trade Finance application. Note that you must have previously uploaded these documents as described in Step 4. For each document, you must specify its type and the id returned when you uploaded it.

Request URL:

POST /v1/businesses/{business_id}/trade_finance_applications/{id}/documents

Example request:

{
    "type": "xml/credit_summary",
    "document_id": "6bb6aea0c0c9058412cd43b0b58c3e92cdoc"
}

Example response:

HTTP/1.1 204 No Content

Click here to view the full API reference.

GET Retrieve Trade Finance application

This endpoint retrieves information about a Trade Finance application. Use this endpoint to check on the application status.

Example request:

GET /v1/businesses/{business_id}/trade_finance_applications/{application_id}

Example response:

{
    "status_detail": "Application is created",
    "status": "PENDING",
    "requested_credit_line":
    {
        "value": 100000,
        "unit": "cents",
        "currency": "EUR"
    },
    "recipient_iban": "DE11200144559095555555",
    "partner_score": "B",
    "partner_reference_number": "3738dbd0-a547-4c11-99e7-770066a39292",
    "partner_contact_number": "+49303003000",
    "partner_contact_name": "Magda Musterfrau",
    "nominal_interest_rate": 0.02,
    "identification_id": "4c74c804eaea5d2a2d64ef400a27a4d3bid",
    "id": "fb7e312ee0e24148b2bc90c0cbe565bc",
    "creditreform_score": 0.02,
    "creditreform_pd": "0.3",
    "application_date": "2022-05-31"
}

Click here to view the full API reference.

Step 6: Complete the business identification (BKYC) process

In this step, must do the following:

• Trigger the business identification process to identify the business legal entity and all legal representative(s). This process is called BKYC.
• Make sure all the business' legal representative(s) are successfully identified.
• Implement the endpoints related to compliance questions.

Business identification

What is BKYC?

Solaris' BKYC solution uses RESTful APIs to perform a series of identification and compliance checks for business customers.

How does BKYC work?

The business identification consists of two asynchronous processes:

• Legal identification: Solaris' Banking Operations team verifies the completeness and accuracy of the data submitted by the business customer and ensures that all legal representatives and ultimate beneficial owners are disclosed and linked to the business.
• Video identification(s): All of the business' legal representatives and authorized persons must undergo a video identification session with IDnow to validate their data against their identification documents.

API reference

For a complete list of endpoints, properties, and examples related to business identification (BKYC), visit the following links:

• Business identification API reference:

  • POST Create business identification
  • GET Retrieve business identification

Related webhook events

• BUSINESS_IDENTIFICATION
• IDENTIFICATION

POST Initiate business identification

Call this endpoint to initiate the business identification process, which automatically triggers both the legal identification of the business and the video identification of applicable natural person(s). You have to specify the identification method in the request body. The default method is idnow.

Request URL

POST /v1/businesses/{business_id}/identifications

Response

The API response returns an identification object with a unique id representing the business identification resource and its overall status. Additionally, the payload contains individual identification objects for the video identification sessions of legal representatives, including their respective resource id, IDnow status, reference, and url for completing the process.

The payload also provides information on the legal identification process, including its dedicated legal_identification_status. You must call the API to monitor the progress of this process, particularly the legal_identification_missing_information field, where Solaris will highlight compliance questions requiring answers from the business.

Click here to view the full API reference.

Compliance questions

During the legal identification process, Solaris' legal and compliance team may require additional information from your customers, including answers to certain compliance questions and/or additional documents to be uploaded.

How to identify compliance questions and documents?

1. If Solaris needs further clarification during the business identification, you will receive a notification on the BUSINESS_IDENTIFICATION webhook.
2. Call the GET Retrieve a business identification endpoint to retrieve the required details.

Only compliance questions

If Solaris has compliance questions for the business, the field legal_identification_missing_information will contain only COMPLIANCE_QUESTIONS as a value. In this case, customers can simply provide answers to the questions on your frontend. Additionally, we recommend to have document upload set as optional to enable the customer to add supporting documents.

Example payload

{
  "legal_identification_status": "information_required",
  "legal_identification_status_missing_information": "COMPLIANCE_QUESTIONS"
}

Both compliance questions & documents

If Solaris requires both answers to compliance questions and documents from the business, the field legal_identification_missing_information will contain COMPLIANCE_QUESTIONS and a document_type enum, e.g., FOUNDATION_DOCUMENT or any other document_type. In this case, customers need to provide answers to the questions on your frontend. Additionally, they need to upload the required document type specified in the payload. You should have document upload set as mandatory on your frontend and submit the document to Solaris using the POST Create a Business Document endpoint.

Example payload

{
  "legal_identification_status": "information_required",
  "legal_identification_status_missing_information": 
  [
    "COMPLIANCE_QUESTIONS",
    "FOUNDATION_DOCUMENT"
  ]
}

How to retrieve compliance questions and provide answers?

In case your customer must answer compliance questions, you need to call the following endpoints to retrieve the questions and allow to the customer to answer them on your frontend:

GET Retrieve compliance questions

To get the compliance questions, call the following endpoint:

Request URL

GET /v1/businesses/{business_id}/identifications/{business_identification_id}/legal_identification/questions

Response example

The API call returns an object that includes the question(s) with a unique ID and the corresponding text. You must redirect these questions to your customers and retrieve their answers as part of your workflow. You should also provide a dedicated page for answering all questions separately.

{
  "question_id": "ebb463137becc09788dfe21fc066e670qstn",
  "question_text": "Please provide the license for security / guarding services (Bewachungsgewerbe): § 34a GewO",
  "legal_identification_id": "14eb210435e09ab7f6a06c8b9b86ce27lid",
  "business_identification_id": "4c74c804eaea5d2a2d64ef400a27a4d3bid",
  "business_id": "880bbac68a34add190786b9c74f4c82fcbiz",
  "answer_id": null,
  "answer_text": "string",
  "asked_at": "2021-07-16T13:38:06.000Z",
  "answered_at": null
}

Click here to view the full API reference.

Create answers for compliance questions

After receiving the compliance question answers from the customer, call the following endpoint to share them with Solaris. Note that you must make a separate API call for each answer.

Request URL

You have to provide the question's answer in the request body of this endpoint.

POST /v1/businesses/{business_id}/identifications/{business_identification_id}/legal_identification/questions/{question_id}/answers

Click here to view the full API reference.

PATCH Update business legal identification

Call this method to update the legal identification and mark it as ready to resume the identification process after adding all answers to the compliance questions. This endpoint changes the legal_identification_status from information_required to pending when called.

Request URL

PATCH /v1/businesses/{business_id}/identifications/{id}/legal_identification/mark_as_ready

Click here to view the full API reference.

Customer Due Diligence

Solaris conducts risk screening and customer vetting checks, known as the Customer Due Diligence process, on the business legal entity. The results are returned in the GET business resource. For more information, check the Customer Due Diligence guide.

In case of any red or yellow status value for any of the CDD-related properties, you must abort the customer onboarding process. You can proceed with the remaining steps only if all the CDD-related properties have a green status value.

Step 7: Request the first trade

Once Solaris approves the customer's Trade Finance application, they can start requesting financing for their business purchases in the form of trades. Call the following endpoint to create a trade:

POST Request a trade

This endpoint creates a trade. You must provide the following information:

• trade_purpose: The purpose of the trade.
• trade_origin_country: The seller's ISO 3166-1 alpha-2 country code.
• trade_company_website: The seller's website.
• trade_company_registration: The seller's company registration number.
• trade_company_name: The company name of the seller.
• trade_company_address: The seller's address.
• seller_bank_account_details: An object containing information about the seller's bank account. This depends on your implementation; ask your Onboarding Project Manager for more information.
• requested_trade_currency: The currency requested for the trade by the customer. Can be EUR or USD.
• requested_payout_amount: The amount to be paid out to the customer (i.e., the value of the trade), in Euro cents.
• reason_for_extension: A reason to postpone the payback process beyond the original deadline.
• partner_score: A score that you calculate for the customer, which controls auto-approval behavior. (A triggers auto-approval)
• partner_reviewer: The individual in your organization who reviewed the trade.
• original_invoice_amount: The original amount listed on the invoice of the trade.
• original_invoice_number: An alphanumeric identifier generated by the seller for the invoice.
• order_reference: (For non-Euro trades) A reference for you to match the trade with the generated currency conversion order.
• invoice_date: The date when the invoice must be paid.
• incoterm: The relevant incoterm that applies to the trade.
• fx_rate: (For non-Euro trades) The foreign exchange (FX) rate to apply to the trade.
• financing_term: The number of days from the payout of the loan when the customer must pay it back. Can be 30, 60, or 90.
• business_trade_no: A serial number you may generate to identify the trade.

Request URL:

POST /v1/businesses/{business_id}/trade_credit_line/trades

Example request:

{
    "trade_purpose": "Buying machinery",
    "trade_origin_country": "DE",
    "trade_company_website": "docs.solarisbank.com",
    "trade_company_registration": "HRB 168180 B",
    "trade_company_name": "SolarisDealz GmbH",
    "trade_company_address": "Cuvrystraße 53, 10997 Berlin",
    "seller_bank_account_details":
    {
        "iban": "DE11200144559095555555"
    },
    "requested_trade_currency": "EUR",
    "requested_payout_amount":
    {
        "value": 50000,
        "unit": "cents",
        "currency": "EUR"
    },
    "reason_for_extension": "No moneys",
    "partner_score": "A",
    "partner_reviewer": "Ray Liotta",
    "original_invoice_number": "AAA1223731",
    "original_invoice_amount":
    {
        "value": 1000,
        "unit": "cents",
        "currency": "EUR"
    },
    "order_reference": "string",
    "invoice_date": "2022-05-31",
    "incoterm": "CFR",
    "fx_rate": 0.03,
    "financing_term": 30,
    "business_trade_no": "e3b3ecd1-72b5-4786-9588-15671b035b42"
}

Example response:

The API returns the trade resource, which will have an initial status of PENDING. Use the GET endpoint to check on the status.

{
    "trade_purpose": "Buying machinery",
    "trade_origin_country": "DE",
    "trade_company_website": "docs.solarisbank.com",
    "trade_company_registration": "HRB 168180 B",
    "trade_company_name": "SolarisDealz GmbH",
    "trade_company_address": "Cuvrystraße 53, 10997 Berlin",
    "status_detail": "string",
    "status": "PENDING",
    "seller_bank_account_details":
    {
        "Payout amount": "7654,80",
        "Payout Currency": "EUR",
        "Another entry": "Another value"
    },
    "requested_payout_amount":
    {
        "value": 50000,
        "unit": "cents",
        "currency": "EUR"
    },
    "reason_for_extension": "No moneys",
    "partner_score": "A",
    "partner_reviewer": "Max Mustermann",
    "original_invoice_number": "AAA1223731",
    "original_invoice_amount":
    {
        "value": 1000,
        "unit": "cents",
        "currency": "EUR"
    },
    "order_reference": "string",
    "invoice_date": "2022-05-31",
    "incoterm": "CFR",
    "id": "80620f0c57594a2cac337f401889bf6f",
    "fx_rate": 0.03,
    "financing_term": 30,
    "documents":
    [
        {
            "type": "invoice",
            "document_id": "6bb6aea0c0c9058412cd43b0b58c3e92cdoc",
            "created_at": "2018-10-18T15:57:01.000000Z"
        }
    ],
    "business_trade_no": "e3b3ecd1-72b5-4786-9588-15671b035b42",
    "beneficiary_id": "e0277fae750a4c849660da873f94cbiz"
}

Click here to view the full API reference.

GET Retrieve a trade

This endpoint returns information about a trade. Use this endpoint to check on the status of an open trade request.

Request URL:

GET /v1/businesses/{business_id}/trade_credit_line/trades/{id}

Example response:

{
    "trade_purpose": "Buying machinery",
    "trade_origin_country": "DE",
    "trade_company_website": "docs.solarisbank.com",
    "trade_company_registration": "HRB 168180 B",
    "trade_company_name": "SolarisDealz GmbH",
    "trade_company_address": "Cuvrystraße 53, 10997 Berlin",
    "status_detail": "string",
    "status": "PENDING",
    "seller_bank_account_details":
    {
        "Payout amount": "7654,80",
        "Payout Currency": "EUR",
        "Another entry": "Another value"
    },
    "requested_payout_amount":
    {
        "value": 50000,
        "unit": "cents",
        "currency": "EUR"
    },
    "reason_for_extension": "No moneys",
    "partner_score": "A",
    "partner_reviewer": "Max Mustermann",
    "original_invoice_number": "AAA1223731",
    "original_invoice_amount":
    {
        "value": 1000,
        "unit": "cents",
        "currency": "EUR"
    },
    "order_reference": "string",
    "invoice_date": "2022-05-31",
    "incoterm": "CFR",
    "id": "80620f0c57594a2cac337f401889bf6f",
    "fx_rate": 0.03,
    "financing_term": 30,
    "documents":
    [
        {
            "type": "invoice",
            "document_id": "6bb6aea0c0c9058412cd43b0b58c3e92cdoc",
            "created_at": "2018-10-18T15:57:01.000000Z"
        }
    ],
    "business_trade_no": "e3b3ecd1-72b5-4786-9588-15671b035b42",
    "beneficiary_id": "e0277fae750a4c849660da873f94cbiz"
}

Click here to view the full API reference.

Step 8: Attach documents to the trade

Call the following endpoint to attach the relevant documentation (e.g., the invoice) to the trade:

POST Attach document to trade

Adds a supporting document (e.g., the trade invoice) to a trade. Note that you must first upload these documents using the POST Upload a document for a business described in Step 4.

Request URL:

POST /v1/businesses/{business_id}/trade_credit_line/trades/{trade_id}/documents

Example request:

{
    "type": "invoice",
    "document_id": "6bb6aea0c0c9058412cd43b0b58c3e92cdoc"
}

Example response:

HTTP/1.1 204 No Content

Click here to view the full API reference.

Step 9: Attach payback plan to the trade

Next, you must amend the trade resource with information about when the trade should be paid out, when the trade must be paid back, and the charges that the customer must pay.

PUT Attach payback plan to trade

Request URL:

PUT /v1/businesses/{business_id}/trade_credit_line/trades/{trade_id}/payback_plan

Example request:

{
    "payout_date": "2020-01-01",
    "payback_date": "2020-01-31",
    "partner_transaction_charges_expected":
    {
        "value": 1250,
        "unit": "cents",
        "currency": "EUR"
    },
    "other_charges":
    {
        "value": 6700,
        "unit": "cents",
        "currency": "EUR"
    },
    "customer_fees_expected":
    {
        "value": 10000,
        "unit": "cents",
        "currency": "EUR"
    }
}

Example response:

HTTP/1.1 204 No Content

Click here to view the full API reference.

Step 10: Create Trade Finance bank account (first trade only)

Finally, when Solaris approves the customer's first trade, you must create a Trade Finance bank account for the customer and attach it to their trade credit line.

POST Create business account

See the API reference for the full list of values you must provide in this request.

Request URL:

POST /businesses/{business_id}/accounts

Example response

HTTP/1.1 201 Created
{
  "id": "8e98fe2c6b0df0cdeff56517494abbadcacc",
  "iban": "DE87110101001000057123",
  "bic": "SOBKDEBBXXX",
  "type": "CHECKING_BUSINESS",
  "purpose": "primary",
  "balance": {
    "value": 0,
    "unit": "cents",
    "currency": "EUR"
  },
  "available_balance": {
    "value": 0,
    "unit": "cents",
    "currency": "EUR"
  },
  "locking_status": "NO_BLOCK",
  "locking_reasons": [],
  "account_limit": {
    "value": 0,
    "unit": "cents",
    "currency": "EUR"
  },
  "business_id": "880bbac68a34add190786b9c74f4c82fcbiz",
  "status": "ACTIVE",
  "closure_reasons": null
}

Click here to view the full API reference.

PATCH Attach account to trade credit line

Use this method to attach the account you just created to the business's trade credit line.

Request URL:

PATCH /v1/businesses/{business_id}/trade_credit_line

Example request:

{
    "account_id": "efdd8c5e7ec0b4e36768c6de39e6cfc0cacc"
}

Example response:

{
    "requested_credit_line":
    {
        "amount": 100000,
        "unit": "cents",
        "currency": "EUR"
    },
    "nominal_interest_rate": 0.02,
    "business_id": "e0277fae750a4c849660da873f94cbiz",
    "account_id": "5526853938474f3e92b22a03ea57a544cacc"
}

Click here to view the full API reference.

What's next?

Congratulations! You have implemented Solaris' Trade Finance product.

Check the following appendices section for additional information on enums and testing data.

For an overview of Solaris' lending products, check the lending products overview page.

Useful resources

Check the following links for additional related guides and API reference documentation.

• Trade Finance API Reference documentation
• Business Identification API Reference documentation
• Video Identification guide
• SEPA Transfers

Appendix I: Enums

CRS company type

The field crs_company_type is required to collect the mandatory tax information and create the business tax_identification resource. The following table includes the possible values for this field and their descriptions:

Document types

The following table includes the possible values for the field document_type and their descriptions.

Idnow status

The following table includes the possible values for the field status for the video identification process carried out by IDnow and the related description of each status.

IDnow provides a reason whenever the identification has a canceled or aborted status. No reason can be disclosed for the final failed status.

Identification documents

1. List of accepted passports for video identification via IDnow: here
2. List of accepted passports for postIdent: here
3. Search for an identification document: here

List of passports with address

The following table lists all ID types that include the bearer's address, which you can use to perform identification without having to provide a proof of address document.

Tax country

The following tables includes the possible values for the field tax_country:

Sector

The following are the possible values for the field sector.

• ECONOMICALLY_SELF_EMPLOYED
• ECONOMIC_DEPENDENT
• FOREIGN_COMPANIES
• FOREIGN_ECONOMIC_DEPENDENT
• FOREIGN_PRIVATE_INDIVIDUAL
• FOREIGN_SELF_EMPLOYED_PRIVATE_PERSON
• GERMAN_BANKS
• MUNICIPALITY_AND_MUNICIPALITY_ASSOCIATION
• OTHER_COMPANIES_WORKMAN
• OTHER_COMPANIES
• OTHER_PRIVATE_INDIVIDUAL

Legal form

The selected value for the field tax_country influences the accepted values for the field legal_form. The following are the possible values for the field legal_form per each tax_country.

Austria (AT)

• AT_SE
• AT_OHG
• AT_KG
• AT_AG
• AT_GESMBH
• AT_EG
• AT_GBR
• AT_EV
• AT_SOLE_PROPRIETORSHIP
• AT_SELF_EMPLOYED
• AT_AMT
• AT_KOR
• AT_STIFTUNGEN
• AT_GMBH
• AT_GMBH_CO_KG

Belgium (BE)

• BE_SNC
• BE_SCS
• BE_SA
• BE_SPRL
• BE_SE
• BE_SCA
• BE_SC
• BE_SCRI
• BE_SEP
• BE_SF
• BE_SPRLU
• BE_SOLE_PROPRIETORSHIP
• BE_SELF_EMPLOYED

Bulgaria (BG)

• BG_AD
• BG_OOD
• BG_KDA
• BG_KD
• BG_SD
• BG_SELF_EMPLOYED
• BG_SOLE_PROPRIETORSHIP

Croatia (HR)

• HR_DD
• HR_DOO
• HR_JDOO
• HR_KD
• HR_JTD
• HR_SELF_EMPLOYED
• HR_SOLE_PROPRIETORSHIP
• HR_ORTA

Czech Republic (CZ)

• CZ_AS
• CZ_SRO
• CZ_KS
• CZ_VOS
• CZ_DRUZSTVO
• CZ_FYZICKA_OSOBA
• CZ_SOLE_PROPRIETORSHIP
• CZ_SELF_EMPLOYED

France (FR)

• FR_AE
• FR_EI
• FR_SNC
• FR_SCS
• FR_SA
• FR_SAS
• FR_SARL
• FR_SE
• FR_SCA
• FR_EURL
• FR_SC
• FR_SCOP
• FR_SELARL
• FR_SOLE_PROPRIETORSHIP
• FR_SELF_EMPLOYED

Germany & others

Solaris accepts the following legal forms for companies in Germany and other countries that are not specified in our system:

• AG
• EG
• EK
• EV
• NEV
• GBR
• GMBH
• GMBH_CO_KG
• GMBH_I_GR
• KG
• KGAA
• LTD
• MUNICIPALITY
• MUNICIPAL_COMPANY
• NONE
• OHG
• PARTG
• PRIVATE_PERSON
• SAVINGS_BANK
• SE
• SELF_EMPLOYED
• SOLE_PROPRIETORSHIP
• UG
• UG_I_GR
• FOREIGN_CORPORATION
• ADOR
• AMT
• KDOR
• STIFTUNGEN
• SECOKG
• AGCOKG

Hungary (HU)

• HU_NYRT
• HU_KFT
• HU_BT
• HU_KKT
• HU_SOLE_PROPRIETORSHIP
• HU_SELF_EMPLOYED
• HU_ORTA

Italy (IT)

• IT_SE
• IT_SNC
• IT_SAS
• IT_SPA
• IT_SRL
• IT_SAPA
• IT_SCPA
• IT_SCARL
• IT_SCOP
• IT_SS
• IT_SOLE_PROPRIETORSHIP
• IT_SELF_EMPLOYED

Luxembourg (LU)

• LU_SNC
• LU_SCS
• LU_SA
• LU_SARL
• LU_SE
• LU_SCA
• LU_SCSP
• LU_SARLS
• LU_SC
• LU_SCOP
• LU_SOLE_PROPRIETORSHIP
• LU_SELF_EMPLOYED
• LU_SECA
• LU_ASBL
• LU_FON
• LU_SP

Poland (PL)

• PL_SA
• PL_SPZOO
• PL_SE
• PL_SKA
• PL_SPK
• PL_SPJ
• PL_SELF_EMPLOYED
• PL_OTHER

Portugal (PT)

• PT_SNC
• PT_SC
• PT_SA
• PT_LDA
• PT_SE
• PT_SUNI
• PT_EIRL
• PT_SCIV
• PT_COP
• PT_SOLE_PROPRIETORSHIP
• PT_SELF_EMPLOYED

Romania (RO)

• RO_SA
• RO_SRL
• RO_SCA
• RO_SCS
• RO_SNC
• RO_SELF_EMPLOYED
• RO_SOLE_PROPRIETORSHIP

Serbia (RS)

• RS_AD
• RS_DOO
• RS_KD
• RS_OD
• RS_SELF_EMPLOYED
• RS_SOLE_PROPRIETORSHIP

Slovenia (SI)

• SI_DD
• SI_DOO
• SI_KDD
• SI_KD
• SI_DNO
• SI_SELF_EMPLOYED
• SI_SOLE_PROPRIETORSHIP

Spain (ES)

• ES_SRC
• ES_SC
• ES_SA
• ES_SAS
• ES_SRL
• ES_SE
• ES_SCA
• ES_SLNE
• ES_SAU
• ES_SLU
• ES_SPRO
• ES_SCOP
• ES_SOLE_PROPRIETORSHIP
• ES_SELF_EMPLOYED

Switzerland (CH)

• CH_DE_AG
• CH_FR_SA
• CH_IT_SA
• CH_DE_GMBH
• CH_FR_SARL
• CH_IT_SAGL
• CH_SE
• CH_DE_KOMAG
• CH_FR_SCA
• CH_IT_SACA
• CH_DE_KG
• CH_FR_SCM
• CH_IT_SAC
• CH_DE_KIG
• CH_FR_SNC
• CH_IT_SNC
• CH_DE_EG
• CH_FR_SS
• CH_IT_SS
• CH_SELF_EMPLOYED
• CH_SOLE_PROPRIETORSHIP
• CH_DE_KMG

The Netherlands (NL)

• NL_VOF
• NL_CV
• NL_NV
• NL_BV
• NL_SE
• NL_CVOA
• NL_COPV
• NL_MTS
• NL_SOLE_PROPRIETORSHIP
• NL_SELF_EMPLOYED
• NL_VERENIGING
• NL_STICHT

Turkey (TR)

• TR_ADI_SIR
• TR_AS
• TR_LS
• TR_KOM_STI
• TR_KOLL_STI
• TR_SELF_EMPLOYED
• TR_SOLE_PROPRIETORSHIP

United Kingdom

• GB_SE
• GB_PARTNERSHIP
• GB_LP
• GB_PLC
• GB_LTD
• GB_COPS
• GB_UAS
• GB_PRCU
• GB_PUCU
• GB_SOLE_PROPRIETORSHIP
• GB_SELF_EMPLOYED

Sector, tax country, and legal form mapping

Please note that there are certain dependencies between the fields tax_country, sector, and legal_form. For example, based on the value selected for the field tax_country, certain values will be accepted for the field sector, and based on the value selected for the field sector, certain values will be accepted for the field legal_form.

The following sections give an overview of the mapping between these fields.

Tax country and sector mapping

The selected value for the field tax_country influences the accepted values for the field sector. The following table gives an overview about the mapping of values between the field tax_country and sector.

Sector and legal form mapping

The selected value for the field sector influences the accepted values for the field legal_form. The following table gives an overview about the mapping of values between the field sector and legal_form.

Legal identification status

The following table includes the possible values for the field legal_identification_status for the legal identification process of the business legal entity carried out by Solaris and the related description of each status.

NACE code

The Statistical Classification of Economic Activities in the European Community, commonly known as NACE, is the industry standard classification system used in the European Union.

NACE uses four hierarchical levels:

• Level 1: 21 sections identified by alphabetical letters A to U;
• Level 2: 88 divisions identified by two-digit numerical codes (01 to 99);
• Level 3: 272 groups identified by three-digit numerical codes (01.1 to 99.0);
• Level 4: 629 classes identified by four-digit numerical codes (01.11 to 99.00).

The first four digits of the code, which is the first four levels of the classification system, are the same in all European countries. National implementations may introduce additional levels. The fifth digit might vary from country to country and further digits are sometimes placed by suppliers of databases.

For example, if the NACE code A 01.11 (Growing of cereals (except rice), leguminous crops and oil seeds) would apply to the person/business, supply the value like such:

nace_code = "A 01.11"

Please visit this site for the list of values of NACE codes values you need to implement in your solution. The list is available in multiple languages.

NACE codes are mandatory for B2B and freelancer customers in Germany, Italy, and Spain. For France, NACE codes are excluded due to the usage of different coding system CODE NAF.

Solarisident status

The following table includes the possible values for the field status, which refers to the overall status of the business identification process (BKYC), including the legal identification of the business legal entity carried out by Solaris and the video identification of the business's natural persons.

Registration district and registration issuer

The following are the possible values for the fields registration_district and registration_issuer. These fields are only relevant for customers in Germany.

• AACHEN
• ALTENBURG
• AMBERG
• AMTSGERICHT
• ANSBACH
• APOLDA
• ARNSBERG
• ARNSTADT
• ARNSTADT_ZWEIGSTELLE_ILMENAU
• ASCHAFFENBURG
• AUGSBURG
• AURICH
• BAD_HERSFELD
• BAD_HOMBURG_VDH
• BAD_KREUZNACH
• BAD_OEYNHAUSEN
• BAD_SALZUNGEN
• BAMBERG
• BAYREUTH
• BERLIN_CHARLOTTENBURG
• BIELEFELD
• BOCHUM
• BONN
• BRAUNSCHWEIG
• BREMEN
• CHEMNITZ
• COBURG
• COESFELD
• COTTBUS
• DARMSTADT
• DEGGENDORF
• DORTMUND
• DRESDEN
• DUISBURG
• DUEREN
• DUESSELDORF
• EISENACH
• ERFURT
• ESCHWEGE
• ESSEN
• FLENSBURG
• FRANKFURT_AM_MAIN
• FRANKFURT_ODER
• FREIBURG
• FRIEDBERG
• FRITZLAR
• FULDA
• FUERTH
• GELSENKIRCHEN
• GERA
• GIESSEN
• GOTHA
• GOETTINGEN
• GREIFSWALD
• GREIZ
• GUESTROW
• GUETERSLOH
• HAGEN
• HAMBURG
• HAMM
• HANAU
• HANNOVER
• HEILBAD_HEILIGENSTADT
• HILDBURGHAUSEN
• HILDESHEIM
• HOF
• HOMBURG
• INGOLSTADT
• ISERLOHN
• JENA
• KAISERSLAUTERN
• KASSEL
• KEMPTEN_ALLGAUE
• KIEL
• KLEVE
• KOBLENZ
• KOELN
• KOENIGSTEIN
• KORBACH
• KREFELD
• LANDAU
• LANDSHUT
• LEBACH
• LEIPZIG
• LEMGO
• LIMBURG
• LUEBECK
• LUDWIGSHAFEN_A_RHEIN_LUDWIGSHAFEN
• LUDWIGSLUST
• LUENEBURG
• MAINZ
• MANNHEIM
• MARBURG
• MEININGEN
• MEMMINGEN
• MERZIG
• MOENCHENGLADBACH
• MONTABAUR
• MUEHLHAUSEN
• MUENCHEN
• MUENSTER
• NEUBRANDENBURG
• NEUNKIRCHEN
• NEURUPPIN
• NEUSS
• NORDHAUSEN
• NUERNBERG
• OFFENBACH_AM_MAIN
• OLDENBURG_OLDENBURG
• OSNABRUECK
• OTTWEILER
• PADERBORN
• PASEWALK
• PASSAU
• PINNEBERG
• POESSNECK
• POESSNECK_ZWEIGSTELLE_BAD_LOBENSTEIN
• POTSDAM
• RECKLINGHAUSEN
• REGENSBURG
• RIBNITZ_DAMGARTEN
• ROSTOCK
• RUDOLSTADT
• RUDOLSTADT_ZWEIGSTELLE_SAALFELD
• SAARBRUECKEN
• SAARLOUIS
• SCHWEINFURT
• SCHWERIN
• SIEGBURG
• SIEGEN
• SOEMMERDA
• SONDERSHAUSEN
• SONNEBERG
• ST_INGBERT_ST_INGBERT
• ST_WENDEL_ST_WENDEL
• STADTHAGEN
• STADTRODA
• STEINFURT
• STENDAL
• STRALSUND
• STRAUBING
• STUTTGART
• SUHL
• TOSTEDT
• TRAUNSTEIN
• ULM
• VOELKLINGEN
• WALSRODE
• WAREN_MUERITZ
• WEIDEN_ID_OPF
• WEIMAR
• WETZLAR
• WIESBADEN
• WISMAR
• WITTLICH
• WUPPERTAL
• WUERZBURG
• ZWEIBRUECKEN

Registration type

• AT_FB_CD
• AT_GEM_CD
• AT_IDENT_CD
• AT_LAE_CD
• AT_ZVR_CD
• BE_OND_CD
• BG_BULSTAT_CD
• BG_OTHER_CD
• BG_UIC_CD
• BG_VAT_CD
• CY_DRCOR_CD
• CY_NOTAP_CD
• CY_TIC_CD
• CY_VAT_CD
• CZ_ICO_CD
• CZ_NID_CD
• DE_GNR_CD
• DE_HRA_CD
• DE_HRB_CD
• DE_NOTAP_CD
• DE_PR_CD
• DE_VR_CD
• DK_CVR_CD
• DK_FT_CD
• DK_NOTAP_CD
• EE_FON_CD
• EE_RG_CD
• ES_NIF_CD
• FI_ALV_CD
• FI_NOTAP_CD
• FI_SIRA_CD
• FI_Y_CD
• FR_CIB FR_SIREN_CD
• GEN_IPF_CD
• GEN_NBR_ENTTY_CD
• GEN_NCB_ENTTY_CD
• GEN_NSA_ENTTY_CD
• GEN_NSI_ENTTY_CD
• GEN_OTHER_CD
• GEN_PS_CD
• GEN_TAX_CD
• GEN_TRD_RGSTR_ENTTY_CD
• GEN_VAT_CD
• GR_AFM_CD
• GR_IMO_CD
• HR_MB_CD
• HR_MBS_CD
• HR_OIB_CD
• HU_CEG_CD
• HU_FB_CD
• HU_KOZ_CD
• HU_TOR_CD
• IE_CRO_CD
• IE_VAT_CD
• IT_CCIAA_CD
• IT_CF_CD
• IT_UCITS_CD
• LT_INV_CD
• LT_JAR_CD
• LU_RSC_CD
• LV_FON_CD
• LV_NBR_CD
• LV_VAT_CD
• MT_CNUM_CD
• MT_OLE_CD
• MT_VAT_CD
• NL_KVK_CD
• NL_RSIN_CD
• PL_KRS_CD
• PL_NIP_CD
• PL_REGON_CD
• PL_VAT_CD
• PT_FSA_CD
• PT_NIF_CD
• RO_CUI_CD
• RO_TAX_CD
• RO_TRN_CD
• SE_FIN_CD
• SE_MOM_CD
• SE_ORG_CD
• SI_DAV_CD
• SI_DDV_CD
• SI_MAT_CD
• SK_ICO_CD

Appendix II: BKYC required documents

The following table includes the required documents for identification for each legal form:

Appendix III: Testing samples for GET Search for business commercial registration

The following table includes testing samples for the GET Search for business commercial registration endpoint, including values for the fields country, registration_number, registration_issuer, and name.

Appendix IV: FAQs

Legal Representative FAQs

The company I am about to register is a „Gesellschaft mit beschränkter Haftung“ (GmbH) – who is my legal representative?

The easiest and surest way to figure that out is to check your current register excerpt (Handelsregisterauszug). In there you'll find all the official legal representatives which you would need to tell us. As a further indication, these people also need to be listed in the Imprint of your website (Impressum).

The Legal Representative has sole representations rights – do I need to add the other legal representatives as well?

Yes. Even though this legal representative could conclude the process on behalf of the company alone in the following steps, Solaris would need the complete set of information for regulatory purposes. Therefore, please enter the information about all legal representatives associated with the business.

One of our legal representatives is currently unavailable – do we need to reach them to complete the process?

Yes. All legal representative(s) must be identified in a video identification session to complete the business identification process(BKYC).

Our legal representatives are about to change soon – shall I include the new ones already?

No; please submit the information as it is currently written in the official register. If you already know that these individuals will change, then please inform your Onboarding manager accordingly, and they will help sort things out.

Why do I have to submit all legal representatives here?

As a bank, Solaris is obliged to keep a record about the companies it works with and check whether the provided information is correct. Solaris makes every effort to keep the flow as smooth as possible. Nevertheless, the law stipulates that Solaris must collect this information for all legal representatives.

Ultimate Beneficial Owner FAQs

What is a “Beneficial Owner”?

A so-called “Beneficial Owner” is a natural person (a human) who owns directly or indirectly more than 25% of the voting shares of a legal entity today. Ultimately it is the person who benefits from the entered agreement and has the eventual decision power. It can never be another company, as Solaris would need to look up the owner of that company. There is a more detailed (legally-worded) definition here as well. It may significantly help cases with beneficial owners incorporated as trusts or other non-commercial entity types.

The company has no beneficial owners – how should I proceed?

It might be the case after a thorough investigation that nobody has directly or indirectly enough voting shares of the business. In that case, Solaris is required to take the legal representatives instead. Please enter their information accordingly.

I don't know the ownership structure of the company – how shall I proceed?

Ultimately, the ownership structure of a company is determined in the shareholder agreement (Gesellschaftervertrag), which has been signed at least when founding the entity. In the meantime, this may have changed but would need to be noted in an amendment or update of this contract.

Another company owns the company – what shall I do now?

Please submit the information of the natural person (human) owning your shareholders. If this is also another company (holding- or corporate-structure), you would need to follow the trail of indirect ownership until you either find an individual or the ownership is diluted under 25% ownership (through indirect ownership).

What do you mean by direct or indirectly & how do I calculate that?

Direct ownership refers to a natural person (individual) owning him-/herself voting shares in the business. Indirect ownership refers to somebody owning one entity that then owns a specific part of the business. It also qualifies if the entities are stacked into each other (several companies in between). Also, if one individual holds voting shares via different entities in the business, you would need to add up his/ her total indirect ownership to see whether the total engagement reaches more than 25%. When the shareholding structure is stacked over several hierarchies, you multiply the ownership-quotas of each entity to get the ultimate quota for the respective person.

Example:

Adello GmbH needs to provide its beneficial owners. Adello's shareholders are Peter 30% of shares, Susi 10% of shares, Anne 10% of shares, and Toscana GmbH 50% of shares. Toscana's shareholders: Hugo 75% of shares and Marie 25% of shares Direct beneficial owners of Adello: Peter Indirect beneficial owners of Adello: Hugo with 37,5% of shares (Toscana's share in Adello 50% x Hugo's ownership quota in Toscana 75%). Please note that Marie is not a beneficial owner as she has indirectly only 12,5% in Adello.

We have different kinds of shares – which shares are the decisive ones?

Please refer to the shares with decisive voting power as the beneficial owner is ultimately the person deciding the significant strokes of the company.

Does the UBO need to do something, for instance, sign something or perform a video identification?

No, please only submit the information of that person as stated in his/her official documents (ID card or passport). There is no further double-checking of that information. Therefore, the beneficial owner does not need to do anything during this identification process.