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How to add a Business Entity as a Shareholder

  • Updated
When verifying your business on Float, you’ll be asked to confirm your company’s ownership structure in the Confirm Business Owners section.

If your business is owned by another business (for example, a parent company or holding company), you’ll need to define the ownership of that business. This may involve adding multiple layers of ownership before reaching an individual owner who can be verified.
 

Ownership Involving Business Entities

When you add a business entity as a shareholder, you must define who owns that business. This ensures Float can verify the individuals behind each entity as part of regulatory requirements.
 

How this works:

  1. In the Confirm Business Owner section, click Add Shareholder > Business entity
  2. Enter the Legal business name, and assign the ownership percentage. (25% or more)
  3. Indicate whether any Individual or business owns 25% or more shares of the business entity added.
  4. Click Save
  5.  You’ll be prompted to add a shareholder for that business. At this stage, you can:
    • Add an individual
    • Add yourself
    • Add another business entity

Scenario 1: Single-Level Business Ownership

If a business structure has only one level of business ownership, you should add an individual owner at the next step 

Example:

  • Company A is owned 100% by Company B
     Next step: add an individual owner for Company B

Please note: Even if a business is assigned 100%, you cannot proceed without adding at least one individual owner. 

 

Scenario 2: Adding Multiple Business Entities (Up to 2 Levels)

If you add another business entity as a shareholder again, you’ll be asked to define ownership for that business in the same way.


This means the ownership structure can include two business ownership layers before reaching an individual owner.

How this works:

  1. In the Confirm Business Owners section, click Add Shareholder and select Business entity.
  2. Enter the legal business name, assign the ownership percentage (25% or more)
  3. Click Save.
  4. You’ll be prompted to add a shareholder for that business.
  5. If you select Business entity again, you are creating another layer of ownership.
  6. Enter the legal business name, assign the ownership percentage, and click Save.
  7. You’ll again be prompted to add a shareholder for that business.
  8. At this stage, add an individual owner or yourself

Example:

  • Company A is owned 100% by Company B
  • Company B is owned 100% by Company C
  • You must add an individual owner for Company C. 

That individual is required to complete ID verification. 

(If  ID verification was previously completed using the same email address, no verification email will be sent. Their verification status will appear as Verified on the Welcome Guide page.)
 

 
 

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