# Convert to an entity (/store/store-ownership/convert-to-entity)



<Callout type="warn">
  This guide is **deprecated**. The steps below may no longer reflect the current process.
</Callout>

Stores are initially owned by the person who signed up and completed KYC. If you register a company, you can request to transfer ownership to it.

Turnaround is up to **14 business days** from a complete submission.

## Start a conversion [#start-a-conversion]

Email [compliance@pandabase.io](mailto:compliance@pandabase.io&#x29; with the subject &#x2A;*"Convert store to entity — \[store ID]"** and a one-line request. &#x2A;*Don't attach documents.**

We reply with a link to a private submission portal scoped to your account. The link is single-use and expires after 7 days.

<Callout type="warn">
  Don't email ID, bank details, or ownership documents. The portal is the only supported intake channel.
</Callout>

<Callout type="info">
  Submitted documents are stored encrypted in our internal compliance vault. Access is limited, logged, and audited. Documents are deleted after the regulatory retention window expires, where law allows.
</Callout>

## What you'll upload [#what-youll-upload]

### Entity [#entity]

* Certificate of incorporation or formation (Companies House extract, K-bis, SIRET, IRS EIN letter, etc.)
* Operating agreement, bylaws, or shareholder register
* Proof of registered address (dated within 90 days)
* Tax ID (EIN, VAT, GSTIN, or local equivalent)

### Ownership [#ownership]

If you're not a citizen of the country where your company is registered, the company must have at least one shareholder who is a citizen of that country and owns **at least 50% of the company**.

Companies must demonstrate a legitimate business purpose and verifiable operations, disclose their ultimate beneficial owners and controllers, and disclose any nominee arrangements. The required local shareholder must beneficially own at least 50% of the company, rather than hold those shares on another person's behalf. We may request supporting evidence and decline or suspend service where ownership, control, or business activity cannot be verified.

**Example:** If you're not a US citizen and your company is registered in the US, at least one US citizen must beneficially own 50% or more of the company. A US citizen who owns 50% for their own benefit satisfies the local ownership requirement, subject to verification of the company's ownership, control, and business activity. Someone listed as a 50% shareholder who holds those shares on your behalf does not satisfy the requirement.

* For each beneficial owner with **≥25% stake**: full legal name, date of birth, residential address, nationality, and government-issued ID
* Name and role of the primary controller if different from the largest owner

### Bank account [#bank-account]

Business bank account in the entity's legal name. Personal accounts can't be carried over.

| Country  | Fields                                                   |
| -------- | -------------------------------------------------------- |
| US       | Account number, 9-digit ABA routing number, account type |
| UK       | Account number, sort code                                |
| EU / EEA | IBAN                                                     |
| Canada   | Account number, transit number, institution number       |
| Other    | IBAN or local equivalent — SWIFT for international rails |

## Process [#process]

<Steps>
  <Step>
    ### Request [#request]

    Email compliance with your store ID.
  </Step>

  <Step>
    ### Portal link [#portal-link]

    We send a single-use submission link.
  </Step>

  <Step>
    ### Upload [#upload]

    Submit documents through the portal. Save progress if needed.
  </Step>

  <Step>
    ### Review [#review]

    KYB on the entity and every beneficial owner. Follow-ups come through the portal.
  </Step>

  <Step>
    ### Convert [#convert]

    Store ownership re-assigned to the entity. Your personal account becomes the **controller**.
  </Step>

  <Step>
    ### Confirmation [#confirmation]

    Email confirming the new ownership record.
  </Step>
</Steps>

## What changes [#what-changes]

|                       | Before                | After                               |
| --------------------- | --------------------- | ----------------------------------- |
| Store owner           | Individual            | Entity                              |
| Merchant of record    | Your name             | Entity name                         |
| Invoices and receipts | Your name             | Entity name                         |
| Verification          | Individual KYC        | KYB + UBO KYC                       |
| Payouts               | Personal bank account | Business bank account               |
| Login                 | Your personal account | Same account, now as **controller** |

## What stays the same [#what-stays-the-same]

* Store ID, products, orders, customers, balances
* API tokens, webhook endpoints, paylinks
* Active subscriptions and renewals
* Past payout history (new payouts route to the business account from the conversion date)

## First payout after conversion [#first-payout-after-conversion]

The new business bank account goes through the standard **In Review** period and the **7 to 14 day waiting period** on the first payout, regardless of prior payout history. This is a compliance requirement.

## Cancelling [#cancelling]

You can halt a conversion any time before final approval. After approval, converting back to individual ownership isn't supported.