This is how the second page of the signup process looks like:
The user is required to enter valid billing information. We guess the country from the user's IP address and also use it as a piece of evidence for your VAT MOSS reports.
By default this step allows you to select if you're a business or an individual. You can also set this up, so that only either of them are possible (in case you serve only companies or only consumers).
If your customer is a company, we ask some additional information:
In this case, if the customer is in the EU, we require a valid VAT ID, which is validated with the VIES system. The VAT ID also has to belong to the selected country.