The KYC process on AngelList will vary depending on the investment entity. In most cases, the investor will simply have to provide personal information to prove who they are, and potentially upload ID documents. Investors using companies or trusts to invest may need to upload evidence of entity registration and information about the entity’s ownership structure.
KYC must be completed every time an investor makes their first investment through a new entity, regardless if they’ve completed the process before via a different entity.
The timeline for processing KYC checks on AngelList is as follows:
- Individual: 1 business day after upload.
- Company/trust: 1 business day after entity information is submitted.
- Trust/company owned by another entity: 3 business days after entity information is submitted.
Money that’s wired before the KYC process is complete will remain in the investor’s funding account.