Requirements

Why do I have to be a legal representative (managing director) to open a Penta account?

This is the requirement of the German law. 

Which documents do I need to sign up?

You will need a valid identity card or passport (for personal identification via IDNow). If you already own a company or a company in formation (in Gründung...

Why is it important to declare US tax residency?

If your company was founded in the United Sates it has tax obligations there. Also, if you are personally paying tax in the U.S. or have US persons status, ...

Which documents do I have to upload, and for which legal forms?

In order to open accounts for some legal forms we need to ask for some documents from you.  Please note: Uploading all these documents during your regis...

Which passports are valid to do the personal identification for a Penta account?

In general, every citizen can open an account with us. However, our partner IDNow is responsible for doing the online verification and sometimes they are un...

Why do I have to name all legal representatives (MDs) of my business?

We are legally obliged to identify every legal representative or managing director of the company even if they are not using the account. This is a legal re...

Why do I have to disclose all shareholders who own over 25%?

Penta is legally obliged to know all beneficial owners (those that own above 25%) of a company due to anti-money-laundeirng laws. In case no one in the ...

Can I open an account even if my business address is not in Germany?

Penta currently offers account only to German businesses that have a business address in Germany. If you have multiple business addresses, please use the Ge...

Can I have a residential address outside of Germany?

Yes, you can.

Do you request my SCHUFA history?

 No, we do not request your SCHUFA history.