How do I create a company/corporate account?

To upgrade/convert your existing personal account to a company account, please contact us and submit a request.

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In the process of account upgrade (please contact us first and wait to receive an email with the instructions), you will be asked to provide us with the following information:

Note: Upgrade to a company account is only possible if the existing personal account has no transaction history. In case of any transaction history, please register a new/separate ICONOMI account which can be upgraded to a company account.

1. Check that your personal account is Tier 2 verified and you have enabled 2FA.

2. Send us some background information about your company, as outlined below:

• Full company name
• Business address
• Legal organizational form (LLC, holding company, publicly traded company, etc.)
• Registration number
• Registration date
• Extract from your country’s business/company register, not older than one week

For the authorized representatives of the legal entity:

• Name and surname
• Address
• Type of representative (director, board member, CEO, procurator, etc.)
• Manner of representation (for example: can this person represent the legal entity independently?)
• Restrictions of representation (for example: can this person represent the company independently for transactions up to 5,000.00 EUR/GBP?)
• Photograph/scan of a valid, government-issued ID (ID card, passport, driver’s license)
• Proof of residence document (such as a bank statement, utility bill, tax return, council tax, or certificate of residence issued by a government authority), not older than 3 months

For natural persons owning 25% or more of the company’s equity:

• Name and surname
• Address
• Photograph/scan of a valid, government-issued ID (ID card, passport)
• Proof of residence document (such as a bank statement, utility bill, tax return, council tax, or certificate of residence issued by a government authority), not older than 3 months

For legal entities owning 25% or more of the company’s equity:

• Full company name
• Business address
• Legal organizational form (LLC, holding company, publicly traded company, etc.)
• Registration number
• xtract from your country’s business/company register, not older than one week

3. Beneficial owner(s) of your company

Please note that we also need information about the beneficial owner of your company. If your company is owned or controlled by a second company or natural person, we also need their information. For example, if your company is legally owned by a second company (according to its corporate registration information), the beneficial owners are actually the natural persons who are behind that company or the ultimate holding company in the chain of ownership and whoever controls it.

If company A owns  25% of your company’s equity and natural person B holds 25% of the shares of company A, we need information about A and B as well. Please also provide information about any legal and natural persons who have so-called indirect control over your company (e.g. shareholders who exercise control alone or with other shareholders, including through any contract, understanding, relationship, intermediary, or tiered entity).

BENEFICIAL OWNER(S) → A → B → C → … → YOUR COMPANY

For all legal entities and natural persons in this chain of ownership, please provide us the information outlined above.

Note: Please make sure your submitted documents are clearly visible in full, high quality and your ID documents are valid, with the expiry date clearly visible. Also please note that we have a 5MB file size limit for attachments in our support system.