Fintech KYC
Revolut Asks for a Certified Shareholder Structure Document. Here's What to Send, Wherever You're Incorporated
Applying for a Revolut Business account and got a "Proof of shareholders structure" request asking for a certified shareholder structure document? This KYC step catches companies everywhere, not just in Sweden, whenever the national company register doesn't list shareholders. It's usually solved within 24 hours without leaving your desk.
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Quick answer
If your company's register doesn't show shareholders, send Revolut a certified copy of your internal share register instead (called an aktiebok in Sweden). We coordinate certification remotely for companies in 120+ countries, typically within 24 hours, for 75 EUR.
The exact message Revolut sends
If you're seeing this in the Revolut Business app, here is the notice word for word:
Please provide a valid shareholder structure document
Please help us to understand the ownership structure by uploading an extract from an official register, clearly listing the shareholders of the company and the shares they own. The document must be certified as a true copy of the original by one of the following:
- a notary,
- an internal or external qualified lawyer, solicitor, advocate with a registration number or information on the legal professional body which authorised the individual to practise the law or stamp from a Law firm in EEA,
- a certified accountant registered with a professional body within the EEA,
- or an external auditor, containing the date, name, occupation address of the certifier.
If such information is not available in the official registry, please send us an alternative document containing this information (e.g. Memorandum of Association, share certificate or any other founding document), certified as previously mentioned.
Whatever country your company is registered in, the fix is straightforward once you know which document to send. Read on.
What is Revolut actually asking for?
Revolut's compliance team needs to verify who owns the company and how many shares each shareholder holds. They accept either an extract from an official company register listing shareholders, or, if the register doesn't show shareholders, an alternative ownership document such as a share register, share certificate or memorandum of association. In both cases the document must be certified as a true copy of the original by a notary, a qualified lawyer with a registration number or bar membership, a certified accountant registered with an EEA professional body, or an external auditor. The certification itself must include the date, name, occupation and address of the certifier.
Why this happens in many countries, not just Sweden
Some national company registers publish shareholder details directly. Others, like Sweden's Bolagsverket, only record board members and signatories. If your country's register falls into the second group, Revolut's "official register" route is a dead end, and you need the alternative document route instead. Below is the Swedish case in detail, since it's the one we see most often, followed by what to do if your company is registered elsewhere.
The problem: Bolagsverket doesn't list shareholders
Here's what catches most Swedish businesses off guard. Unlike the UK's Companies House or many other European registers, Bolagsverket does not record or publish shareholder information for private limited companies (aktiebolag). A registreringsbevis shows board members and signatories, but not shareholders. So when Revolut asks for "an extract from an official register listing the shareholders," that document simply doesn't exist in Sweden, and companies need to use Revolut's alternative route instead.
Which Swedish document should you send?
The standard solution is the aktiebok (share register). Under the Swedish Companies Act, every aktiebolag is legally required to maintain an aktiebok listing all shareholders and their shareholdings, which is precisely what Revolut's compliance team needs.
| Document | What it shows | Accepted by Revolut? |
|---|---|---|
| Aktiebok (share register) | All shareholders and their shareholdings | Yes, the standard choice |
| Share certificate (aktiebrev) | Individual shareholding | Yes, if it covers full ownership |
| Stiftelseurkund (memorandum of association) | Founders and initial share allocation | Yes, for newly formed companies |
| Registreringsbevis (Bolagsverket) | Board members and signatories, not shareholders | No, not sufficient on its own |
The document must be current, signed, and consistent with the ownership details entered in the Revolut application. If ownership has changed since incorporation, the aktiebok needs to be updated and signed by the board before certification.
What if your company isn't Swedish?
Bolagsverket's silence on shareholders is actually the exception, not the rule. In several of the jurisdictions we work with most often, the official register already lists shareholders directly, so Revolut's first route (an extract from an official register) can work without an internal document at all.
| Country | Does the official register show shareholders? | What to send |
|---|---|---|
| Sweden | No, Bolagsverket only shows board members and signatories | Certified copy of the aktiebok (share register) |
| Cyprus | Only via a paid Certificate of Shareholders, the free basic search doesn't include it | Order the Certificate of Shareholders from the Registrar, then certify or apostille if Revolut asks for it |
| Malta | Yes, the Malta Business Registry issues a Shareholders Certificate | Order the certificate directly from the MBR |
| Luxembourg | Yes, for SARLs the Extrait RCS lists shareholders (associés) directly | Order the Extrait RCS from Luxembourg Business Registers |
| Estonia | Yes, the e-Business Register lists shareholders publicly and free of charge | Order a certified extract from the e-Business Register |
Whichever country you're in, Revolut may still want the document certified as a true copy, or apostilled if it's used outside the EEA. We coordinate that remotely, wherever your company is registered. Not listed above, or unsure what counts in your jurisdiction? Book a short call and we'll confirm exactly what to send.
Getting the document certified, remotely
Once the aktiebok (or alternative document) is ready, it needs to be certified as a true copy of the original by a Notarius Publicus. The process runs entirely via video:
- Send the document. Upload a scan or photo of the aktiebok.
- Verify identity by video call. A short meeting with ID verification, from wherever you are.
- The notary certifies the copy. A Swedish Notarius Publicus certifies it as a true copy, including the date, name, title and address Revolut's checklist requires.
- Receive the certified document. A scanned PDF ready for upload to Revolut, with the physical original available by courier if needed.
Turnaround is typically within 24 hours. Notarisation is 75 EUR per document, fixed price. See our pricing page for full details.
Do you need an apostille for Revolut?
Usually not. Revolut's standard KYC request asks for notarial certification, not legalisation. But if a bank or authority needs the document for use outside the EEA, or specifically requests it, an apostille can be added to the same remote process. Read our full apostille guide for when it applies.
Frequently Asked Questions
Notary Direct coordinates notarisation and apostille through appointed Swedish Notarius Publicus professionals. This article is general information, not legal advice.
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