KYB Compliance in Mozambique: 2025 Guide for Fintechs and Digital Platforms

Mozambique is tightening corporate transparency and compliance rules. For fintechs, digital wallets, payment platforms, gig-economy apps, and marketplaces, verifying business customers is mandatory. This guide explains how KYB works in Mozambique in 2025, the updated regulatory framework, practical challenges, and how early stage companies can streamline onboarding of local businesses or partners using tools like VOVE ID.

Regulatory Framework for Business Registration

Business registration follows the updated Commercial Code of 2022. It defines company types, registration procedures, governance, and beneficial ownership disclosure. Companies are registered with CREL, the national legal entities registry.

Regulations from 2024 strengthened UBO disclosure requirements. Companies must submit detailed information on who controls or owns the business. This applies to both new and existing companies.

Mozambique uses a one stop shop model for incorporation. Several steps can be completed in a single location. This speeds up formation when documents are complete.

Company Types

Common structures in Mozambique include:

• Sociedade por Quotas (LDA) — widely used for SMEs.
• Sociedade Anónima (SA) — for larger or more complex companies.
• Branch or representative office of a foreign entity.

Foreign ownership is generally allowed. KYB workflows should be prepared for both local and foreign shareholders and documents.

Beneficial Ownership Requirements

Since 2024, companies must disclose their beneficial owners to CREL. Data required includes full name, valid ID, nationality, tax number (NUIT), address, contact information, ownership percentage or control type, and supporting documents.

Coverage is still incomplete. Many businesses have not yet updated their UBO data. This means manual collection and identity checks are often necessary. VOVE ID can help automate UBO verification and director ID checks, reducing manual burden.

Key KYB Checks for Mozambique

When onboarding a Mozambican company, request:

• Proof of registration with CREL
• Incorporation certificate and articles of association
• Directors and management information
• Shareholder list and structure
• Updated UBO declaration
• Valid ID documents for directors and UBOs
• Tax identification number (NUIT)

Add a short questionnaire to confirm business activity, operational footprint, and source of funds. This helps detect informal operators or unregistered companies.

New KYB Developments in 2025

Annual KYB refresh for high-volume business clients

From 1 July 2025, the Bank of Mozambique (Notice 02/GBM/2025) requires payment institutions and EMIs to maintain a registry of all business clients with annual turnover over 5 million MZN and perform full KYB verification every 12 months. Many fintechs are still adjusting to this requirement.

CREL’s online portal

CREL is testing a portal to request company extracts and UBO data electronically. It is in Portuguese, unstable, and paid (2 500–4 000 MZN per extract). Automated verification providers, including VOVE ID, have started API integrations. Coverage is currently around 60% of active companies.

LDAs with nominee shareholders

LDAs using nominee shareholders must submit a “pacto social” showing real quota distribution. Without it, CREL rejects updates. This change caused many rejections in 2025.

Tax authority enforcement

The tax authority (AT) now fines companies when UBO data in CREL and tax declarations (IES) do not match. Fines start at 50 000 MZN. Onboarding teams should warn clients about this risk.

Practical Challenges

• Incomplete UBO coverage — many companies have not updated their data.
• Informal ownership structures — small businesses may have opaque or unofficial agreements.
• Slow registry updates — CREL document processing can take time.
• Fragmented documentation — scans and photos vary in quality, requiring review or automated normalization.

Why KYB Matters for Fintechs, Wallets, and Digital Platforms

Digital products depend on accurate KYB to avoid onboarding unregistered or opaque businesses. Early stage companies have small compliance teams, limited budgets, and cannot risk mistakes.

Automated KYB tools can help. VOVE ID supports document validation and identity verification for directors and UBOs, which is critical in Mozambique’s environment with uneven data quality and evolving regulations.

Recommendations for a Strong KYB Workflow

1. Request CREL registration and incorporation documents at the start.
2. Collect UBO declarations and verify directors’ IDs.
3. Maintain structured checklists for all required documents.
4. Refresh KYB data periodically, at least annually or after structural changes.
5. Use automated verification tools to reduce manual effort.
6. Be aware of turnover thresholds (5 million MZN) that trigger mandatory annual KYB refresh.
7. Warn clients about potential fines from AT for mismatches in UBO data.

Conclusion

Mozambique’s updated corporate registration and beneficial ownership regulations provide clarity and stronger compliance standards. For fintechs and digital platforms, KYB is essential for safe scaling and regulatory alignment. By combining structured workflows, diligent document collection, and modern verification tools such as VOVE ID, startups can onboard business clients confidently while remaining fully compliant.