Convert to an entity
Move an individual-owned store under a registered company.
This guide is deprecated. The steps below may no longer reflect the current process.
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
Email compliance@pandabase.io with the subject "Convert store to entity — [store ID]" and a one-line request. 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.
Don't email ID, bank details, or ownership documents. The portal is the only supported intake channel.
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.
What you'll upload
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
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
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
Request
Email compliance with your store ID.
Portal link
We send a single-use submission link.
Upload
Submit documents through the portal. Save progress if needed.
Review
KYB on the entity and every beneficial owner. Follow-ups come through the portal.
Convert
Store ownership re-assigned to the entity. Your personal account becomes the controller.
Confirmation
Email confirming the new ownership record.
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
- 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
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
You can halt a conversion any time before final approval. After approval, converting back to individual ownership isn't supported.