Creating a Sole Proprietor Account on Niobi Introduction If you're a sole owner of a business, a sole proprietor account on Niobi is perfect for managing your business finances. Whether you're a freelancer, consultant, small business owner, or any other self-employed professional, you can manage virtually everything on Niobi—invoicing clients, receiving payments, making payments to vendors, and tracking your finances. The best part? Sole proprietor accounts are streamlined and quick to set up. You'll complete the registration in 10-15 minutes, verify with an OTP code, and then your account goes to compliance review (typically 24-48 hours). No banking information needed upfront, and you can add bank accounts after approval. What you'll learn: - Who qualifies for a sole proprietor account (you can have employees!) - Step-by-step account registration process - Required documents and information - The OTP verification and authenticator setup process - How the compliance review works - Next steps after account approval Time to complete: 10-15 minutes for setup + 24-48 hours for compliance approval Who Should Create a Sole Proprietor Account? A sole proprietor account is ideal if you: - ✅ Are the sole owner of your business - ✅ Are registered as a self-employed individual or sole proprietor in your jurisdiction - ✅ Have a company tax ID (required in most countries) - ✅ Run your business as an individual entity (not as an LLC, limited company, or partnership) - ✅ Can have employees—business size and structure don't matter, only that you're the sole owner What You Can Do:With a sole proprietor account, you can: - 📋 Invoice clients and send payment requests - 💰 Receive payments from customers - 💳 Make payments to vendors and suppliers - 📊 Manage multiple currency accounts - 📈 Track business finances and download statements - 👥 Invite team members to manage your account - And virtually anything else your business requires on the platform Note: If your business is registered as an LLC, limited company, partnership, or corporation, see Registering an LLC/Company Account on Niobi or Setting Up a Partnership Account on Niobi instead. Before You Start To create a sole proprietor account, you'll need to gather the following information. Pro Tip: Collect everything before starting—this speeds up verification! ⚡ Personal Information 👤 - Full Legal Name: Exactly as it appears on your government-issued ID. - Date of Birth: Required for identity verification. - Email Address: Used for account access and important notifications. - Mobile Phone Number: Used for two-factor authentication (2FA) and account updates. - Residential Address: Your current home address. - Government ID: A valid passport, driver's license, or national ID card. Business Information 📊 - Business Name: Your registered business name, trading name, or personal name if operating as an individual. - Business Description: A brief description of the products or services you p