Requirement is a valid passport and a utility bill or bank statement issued recently. After submitting the documents, you need to wait for pass KYC step 1. Step 2 involves signing, scanning and returning to them a document certifying certain KYC-related things.

As for re-verification, I was required to submit documents again after a few months. The inconvenient part is it comes without warning. Loading the card takes ages. During the loading process, you might get that unexpected email instructing you to resubmit your KYC documents again. In essence, to do the entire verification process again while your card is downgraded to minimum limits.

So you spend $200+ for the card and you wait forever for your card to be loaded and you have that extra bonus of being surprised with KYC inconveniences every now and then.