How to open a business account at MultiPass?

Our onboarding and account opening process is fully automated, however, real human support is available at any step. To open a business account each applicant has to proceed with online registration on our website here.

How long does it take to open a business account?

The online registration form will take you around 5-10 minutes to complete and as soon as it is submitted, our Onboarding team will start the initial application review. If all the provided information is correct and sufficient, and no additional information from the client’s side is required, the account can be opened within a day.

What information will I need to provide?

The application submission consists of 4 parts:

1. Account holder* verification The applicant has to verify their email address and telephone that will be used as credentials for the account access in the future; additionally, the applicant has to verify their identity by providing the scan/photo of their passport/ID original, scan/photo of the original proof of address that should not be more than 3 months old (e.g. utility bill, bank statement, government-issued official correspondence) and selfie with passport/ID document.

(!) Please note that video verification will be requested as well within 3 months of the account opening date.
(!) The onboarding review will be started only after successful identity verification. In case some of the steps were missed or the information provided was insufficient/incorrect, the applicant will be notified additionally.

*The person submitting the application is considered an account holder and must be authorised by the company: for example, it can be a company director or another company representative – company UBO or an authorised accountant having Power of Attorney to maintain company account

2. Company details, type of business, details on the intended account use In this section, the applicant describes their business model, planned activity, partners and other information related to the company’s activity.

3. Identity verification of other authorised individuals** All individuals who are ultimately entitled to exercise or control the exercise of 25% or more of the voting rights of the company, either directly or indirectly through their beneficial ownership of an underlying corporate shareholder, should be regarded as Principal Shareholders/Beneficial Owners of the company.
   These persons will receive an email invitation for online verification and will have to verify their identity by providing a scan/photo of passport/ID original, scan/photo of the original proof of address that should not be more than 3 months old (e.g. utility bill, bank statement, government-issued official correspondence) and a selfie with passport/ID document.

**All the persons authorised by the company must proceed with identity verification. These are all company directors or partners (for LP companies) and all company UBOs (holding at least 25% of company shares).

4. Company documents At this final stage the applicant will have to upload the following legal documents:
   • Certificate of Incorporation (or Formation);
   • Extract from the Registry showing the particulars of company's directors and shareholders, and particulars of Company (reg. number, reg. address);
   • Articles of Assocation

   For LP/LLP:

   • Certificate of Incorporation (or Formation);
   • Partnership agreement;
   • If partners are corporates, we additionally request COI, Certificate of Incumbency (showing particulars of Directors and Shareholders of Company);
   • In case the shareholders are nominees, we request the Declaration of Trust/Trust agreement/Agreement of providing nominee services (between Nominee and a real UBO).

   In addition to above mentioned corporate documents we ask the following:

   • Account statements for the last six months + annual financial report (the most recent available). If the company is newly registered, we also ask to provide a bank account statement of the UBO for the last 6 months to see the source of funds or Tax declaration of UBO;

   • UBO's CV or a link to their LinkedIn profile;

   • Agreements (or other documents, e.g., invoices, etc.) with partners (suppliers/clients)

   • In some cases, we request proof of operational address (if different from registered address)

   • For trade companies we may request transportation documents (CMR, bill of lading, airway bill, etc.)