As part of the KYC (Know Your Customer) requirements, we request that you provide us with various information to set up your account with Shares. Once your account is up and running, we might ask you to provide us with some additional details, to comply with regulatory requirements, and to make sure that all the details you provided us with earlier are still accurate and up to date. This is in line with industry standards and helps us to ensure the security of our platform and all of its members. For more information, please visit our Terms & Conditions.
What data might be requested?
Depending on the regulations and other factors, we might require you to provide us with different data and documents. Below you can find a list of most common data we might request - please keep in mind that the list is not exhaustive and might differ according to your individual situation.
UK members:
Full name,
Current residential address,
Country of residence and citizenship,
Current ID and selfie (in case your ID is expired, or you changed your name),
Current proof of address document (in case you changed your address),
Invest range (the maximum amount you feel comfortable investing),
Funding source (how you fund your account: employment income/investments/inheritance/business income/savings/family),
Employment status (employed/self-employed/unemployed/student/retired),
US tax residency (information whether you are a US tax resident - yes/no),
Approximate annual income (range),
Political involvement / relative or close associate of a Politically Exposed Person (PEP) (yes/no).
EU members:
Full name,
Current residential address,
Country of residence and citizenship,
Current ID and selfie (in case your ID is expired, or you changed your name),
Current proof of address document (in case you changed your address),
Invest range (the maximum amount you feel comfortable investing),
Funding source (how you fund your account: employment income/investments/inheritance/business income/savings/family)
Employment status (employed/self-employed/unemployed/student/retired/CEO),
US tax residency (information whether you are a US tax resident - yes/no),
Approximate annual income (range),
Political involvement / relative or close associate of a PEP (yes/no),
Employer industry (agriculture/art/charities/construction or real estate/defence or security/finance/gambling/hospitality/legal or accountancy/logistics/manufacturing/medical/mining/other/pharmaceuticals/ public sector/religion/remittance or technical equipment/retail/tourism/unregulated crypto),
Nature of transactions (short-term investment/long-term investment/other),
Reason for investing (speculative trading/income earning/savings/hedging/other),
Approximate net worth (range).
How will you contact me?
If we need to receive some additional details from you, our Support Team will reach out to you via the in-app chat. Please ensure to reply to our team’s message as soon as possible and provide the data and/or documents which are valid and up to date.
What if I don’t provide the additional details?
As we are legally obliged to gather all the additional details we requested from you, we cannot continue offering you our services until all the required information is gathered and successfully verified. In case we don’t hear back from you within the specified time-frame, your account might be temporarily restricted, until all the requested information and documentation has been provided by you and our checks are completed.
How is my data processed?
We can assure you that we have a very strict data usage policy that adheres to the rules of the General Data Protection Regulation, and all the data you provide us with is securely processed and stored. Read more about our Data Privacy policy here.