In order to create regulatory required transaction reports, Upvest must maintain certain identifiers per user. By default, the Investment API supports the onboarding of users for the following nationalities (as a single nationality or, in the case of multiple nationalities, the first nationality if the nationalities array is in alphabetical order):
- AT - Austria
- DE - Germany
- FR - France
- HU - Hungary
- IE - Ireland
- LU - Luxembourg
Any other user nationalities require an additional identifier when investing in most instruments. However, user identification is not required for clients that only offer money market funds and/or mutual funds. Clients that do not expand into other asset classes (e..g., stocks, bonds, etc.) do not need to collect user identifiers.
You can add the relevant identifier, by sending
POST /users/{user_id}/identifiers
More information on the accepted user identifiers can be found here.
After successfully creating a user on the Investment API, you can proceed with opening an account group and an account for the respective user. The accounts will only become active once the user's onboarding has been successfully completed.