A business crypto account should be opened in the business's own name, with its ownership and authorised users clearly documented. Kraken's business application involves company verification, commonly called KYB. Preparing the file carefully helps avoid preventable inconsistencies, but cannot guarantee acceptance or a completion date.
Check the current requirements
Kraken's official guide describes a Business application, company and personal verification documents, and an estimated standard processing time of five business days, which can increase. Beneficial-ownership thresholds depend on jurisdiction; the current guide does not present the old 10%/25% country table as a universal rule. Business bank transfers must use an account in the same business name. Official Kraken business-verification guide.
Follow the requirements shown for the actual applicant and verify the contracting entity and service permissions. A regulated provider can still impose product, jurisdiction or activity restrictions.
Prepare a consistent company file
Gather incorporation records, the registered and operating addresses, ownership information and details of people authorised to act. For a group structure, prepare a chart that connects the applicant to its parent entities and ultimate owners.
Use consistent names and percentages across the application, register and supporting documents. Explain legitimate differences rather than uploading contradictory records without context.
Create and protect the account
Use Kraken's verified website to select the business application. Choose a business-controlled email address, complete activation and configure the sign-in security required by the platform.
Keep recovery arrangements under company control. Decide who is allowed to access the account and how that access will change if a director or employee leaves. Never share a recovery phrase or password with someone claiming to accelerate verification.
Identify owners, controllers and users
Ownership, management control and account access are different roles. A person may need to be identified because of control even when their shareholding is below a numerical threshold.
For holding companies, trusts or partnerships, the chain of control may require additional explanation. Apply the current questions for the entity's jurisdiction instead of relying on an old threshold copied from another application.
Submit the requested evidence
Check document dates, legibility, completeness and consistency. An operating-address document and a registered-office document may serve different purposes. Personal identity information should be provided only through the provider's verified process.
Answer activity, source-of-funds and compliance questions according to the company's actual operations. Do not describe a service business as passive treasury management merely to fit an expected application category.
Track requests and review the outcome
Keep a record of the submission and follow-up requests. If support asks for an account reference, use the identifier specified in the verified support process rather than disclosing login credentials.
An estimated processing time is not a service guarantee. Complex ownership, missing evidence or additional checks may extend review. Acceptance also does not mean that every proposed transaction or product is permitted.
Prepare accounting before the first transaction
Set up a routine for retaining transaction exports, fee records, bank transfers and wallet identifiers. Separate company funds from personal balances and document who approved purchases or withdrawals.
The accounting file should explain purchases, sales, swaps, rewards and year-end holdings. Provider statements must be reconciled with other wallets and bank movements. Tax and VAT treatment depend on the actual operations and entity.
How HODL Consulting can help
We can organise the transaction history and supporting records, analyse accounting treatment and prepare the reporting covered by the engagement. We do not decide Kraken's acceptance of an application or guarantee the outcome of a tax review.