Choice Microfinance Bank is one of the banking partners we work with to provide you with banking services. When you open your Boya account and choose Choice Microfinance Bank as the bank, your funds will be held in a bank account at Choice Microfinance Bank. Below are the required KYC/KYB requirements for the different organization types when you open your Boya account and choose Choice Microfinance Bank as the bank to hold your funds.
1. Limited Companies (Kenyan)
Certificate of Incorporation
KRA PIN Certificate
Latest business search CR 12 must have been obtained within the last 6 months
Signed and Stamped Board Resolution (Mandatory)
Proof of Address Document (utility bill, tenancy agreement, recent rent invoice, or valid business permit) (Optional)
Note: KYC for individual UBO is optional but mandatory if they are a shareholder or a director of the company.
Local Director Requirements:
Valid Mobile Number
Email Address
Photo of ID/Passports for all directors (Front and Back)
KRA PIN Certificate
Passport-Size Photos/Selfies
Note: If there is an Ultimate Beneficial Owner (UBO) of the company (e.g., Delaware company), then the director information of that company and the UBO form must be provided.
Foreign Director Requirements:
Valid Mobile Number
Email Address
Valid notarized Foreign Passport
Notarized Foreign tax document
Clear Selfie/ passport photo.
Foreign resident directors/ shareholders
Valid Mobile Number
Email Address
Valid Alien id (both front and back)
Valid notarized foreign passport (if Alien id is unavailable)
KRA Pin certificate
Notarized Foreign tax document (if KRA Pin is unavailable)
Clear Selfie/ passport photo.
Note: All KYC documents that need to be notarized should all be notarised in the country of origin.
2. Partnerships
Certified Copy of Executed Partnership Deed
KRA PIN Certificate
Proof of Address Document (Optional)
Original Board Resolutions on the Company’s Letterhead (Stamped/Sealed - Mandatory)
Individual Partner Requirements:
Valid Mobile Number
Email Address
Photo of ID (Front and Back)
KRA PIN Certificate
Current Passport Photo/Selfie
3. Clubs/Associations/NGOs/Foundations/SACCO Societies
Certified Copy of Constitution/Rules/By-Laws
Certified Copy of Certificate of Registration/Trust Deed or Exemption
Certified Copy of Board Resolution/Minutes of the Board
List of Registered Officials and Current Board Members
Certified Copy of Residential Address/Business Permit/License in Business Name
KRA PIN Certificate
Current Audited Financial Statements for the Last One Year
Registered Officials Requirements:
Valid Mobile Number
Email Address
Photo of National ID or Passport for Officials and Signatories
Current Passport Photo/Selfie of Officials and/or Authorized Signatories
Work Permit for signatories
4. Sole Proprietorships
Registration Certificate
KRA PIN Certificate
Valid Mobile Number
Email Address
Photo of ID (Front and Back)
Current Passport Photo/Selfie