INTELLINZ KYC SERVICES
Buy and Sell Company with KYC so that you can be 100% be sure who you are dealing with using Intellinz, B2B KYC Due Diligence
Buying a Business and Know-Your-Customer (KYC)
When it comes to buying businesses in Singapore, you will have to take necessary measures to avoid fraud and comply with local regulations. For instance, all businesses are required to conduct Due Diligence prior to sale.
Buying a business can be a very lucrative business opportunity. Some have lost their hard-earned money buying businesses that involve scammers or insiders within a business or through their customers. Before you go into the acquisition of any business, you should always know what the business is in the first place and the kind of customers they have. This is why Know-Your-Customer (KYC) due diligence is important.
By performing preliminary due diligence, you will need to know about their background and make sure that they are bona fide. Preliminary due diligence is the process of collecting sufficient information to build a complete picture of the business. This allows you to confirm the identity of the business owner and to prevent any fraudulent or illegal business transactions. After the KYC services, you are in a better position to make an informed decision about the business and its financial worth.
In case you are buying a business or a company, you will be required to prove you are tax-paying as well as that you are a bona fide person. The customer side should be thoroughly investigated as well. You will want to make sure the right contacts are added to your database so that when you need them, they will be available for you.
You also have to acknowledge that buying a business that appears to be successful may not necessarily have a better quality of earnings or financial stability. This applies similarly to retired business owners who are selling their companies. You will need to dig deeper into their records before you consider the purchase.
Buying a business is a business decision, however, it may also include several other matters or factors. So, you need to make sure that you are well-informed before deciding to take on a business venture.
Selling your Business & Know-Your-Customer (KYC)
Online KYC Due Diligence verification, Intellinz is quite fast and efficient as opposed to traditional KYC. Therefore, several organizations have begun to incorporate it during mergers and acquisitions of businesses. Also, due to covid-19, physical interactions have become limited. This will only maximize its usage and importance in the near future when all checks are done via an online application. It helps businesses in being compliant with different regulations and minimize loss of value by associating with criminals. Moreover, by implementing it, companies can become protected against online criminal activities.
Buyers have to do a detailed financial analysis of the business to determine the appropriate price to pay. Intellinz, a B2B KYC system allowing data to flow into an AWS server brings better control over the loss of data as compared to traditional Due Diligence. This includes reviewing income and loss statements, balance sheets, key assets, contingent and actual liabilities, and cash flow statements. You may find that it is more cost-effective to start from Intellinz by promoting your business and proceed withKYD Due Diligence in the same platform.
What is KYC Due Diligence?
KYC DUE DILIGENCE
USES OF KYC SERVICES
- Client on-boarding.
- User Registration.
- Processing of high-profile transactions.
- Re-verification of existing users.
- Ensure regulatory compliance.
- Replacement of outdated authentication mechanisms.
Due Diligence Solves the following points.
- Reducing criminal syndicates infiltrating to companies
- Keeping track of STAKEHOLDERS, important suppliers and before awarding major contracts.
- Looking for verified business opportunities such as franchisees and new product suppliers from overseas.
- Searching for suitable investors and getting an investor for your current business.