Registration - Business Client
What is a Business account?
The NFT account number for Business Clients starts with the digit 8, such as 8751 or 812.
Business Accounts are reserved for legal persons like companies, as opposed to Individual Accounts for people.
Each Business Account must be associated with at least one Individual Account (usually of the person opening the Business Account).
We reserve the right to invite you to open your Business Account in person at our Zurich office.
Note: Please note that currently only Swiss legal entities are eligible to open Business Accounts.
Can I register as Business account in the Fiat24 mobile dapp?
No. Unfortunately only Individual clients can be verified through the Fiat24 mobile dapp.
However, to easy our regulatory compliance, we do require that for every business account, at least one person (usually the one opening the Business Account) have an Individual Account with Fiat24.
Is an account for a Business Client free?
No. A 5-digit Business account NFT costs 500 F24 tokens. You can also purchase the Business NFTs from our homepage (connect wallet and select "Business").
The compulsory Individual Account associated with the Business Account is free.
How do I register for a Business Account?
You must first acquire an NFT starting with the digit 8.
After you have successfully purchased the Business NFT, please open a free Individual Fiat24 Account. You can learn how to do it here.
Please contact service@fiat24.com to initiate the onboarding process as follows:
In your initial contact email, please indicate:
the Business NFT number you have purchased
the Individual NFT you have onboarded for.
your legal entity name and registration number,
full registered address including the country,
website,
business sector of activities, and
a brief summary of what the purpose of the Fiat24 Business Account would be for your entity.
Note: it is not necessary to send any documents attached to the initial contact email.
You will be pre-screened for eligibility and receive a response with the next steps. If your pre-screening is successful, you will be asked for additional information and documentation.
Which documents do I need to prepare?
It is not necessary to send any documents attached to the initial contact email described above. The first contact email is to pre-screen your company's eligibility for a Fiat24 Business Account.
If your pre-screening is successful, you will be receive an email response asking for a number of documents for the company onboarding, including the following:
Extract from the Commercial Register of the country where the company is registered
Valid biometric passport(s) of all the natural Controlling Person(s) of the company (owning 25% or more of the company's shares)
Valid biometric passport of the natural person(s) opening the account for the company
Board of Directors Resolution authorising the above to act on behalf of the company
An onboarding questionnaire to fill out
Documentation regarding the company's financials.
Furthermore, depending on the specific situation, we may ask for residence permits, bank statements, business presentations, and/or employment, sales or office rental contracts. The extra documentation requirements depend on your specific case.
Why does the website say I can open a Business Account when I can't?
There may be several reasons why you are unable to open a Business Account. Please see the questions above regarding the first steps. Unfortunately, due to regulatory, legal, and policy reasons, your application may be rejected based on the pre-screening after your initial contact email or during the document review process.
What countries do you accept?
Please check our service coverage (option "eligible countries for business account" in the drop-down menu) to see if we open business accounts for entities from your country.
How long will it take to open an account?
We aim to open your Business Account within two weeks of receiving all the required documents.
Does Fiat24 accept domiciliary companies?
No.
Can one company have more than one Business Account?
Currently only one Business Account can be opened for every legal entity.
However, one person from the company owning the Business Account must be registered as the owner of a Fiat24 Individual Account.
My business gets paid in crypto. Can I use Fiat24 as my account to accept payments there?
Yes. The cryptocurrency tokens (=payments in crypto) will ultimately have to be transferred to the same wallet address that holds the Fiat24 Business Account NFT, and then converted to FIAT currency using the Fiat24 crypto top-up service.
How much do Business Account financial services cost?
Please refer to our Pricing for Business Accounts page for more information regarding pricing.
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