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Can I open a business account and how do they work?

Who can open a business account?

Available forSingle or multiple beneficiaries?
UK & Estonian private limited companiesSingle and multiple
  • The person opening the account must reside in a country in which Lightyear is already available for personal accounts (see What services do you offer and in which country?)
  • Business accounts are available for certain low-risk industries. Please see the document “List of high-risk industries” in our Legal documents, which describes the industries we currently do not onboard
  • If you have more than one business, you can open multiple business accounts with us

Multi-access to a company with multiple beneficiaries

Lightyear does not permit opening multiple business accounts for the same company. However, upon request, where applicable (see table above) we can grant access to multiple persons to the same business account. To start the process for multi-access, please contact Lightyear Support below. Note that access can be granted only by the associated persons who have the Right of Representation (members of the management board, director). Granting access requires a filled-out and digitally signed User Authorisation Form (UAF) by the representative, which is provided by Lightyear upon request.

Do I need a personal account with Lightyear?

Yes, to create a business account, you need to hold a personal account with Lightyear first. They both only take a few clicks to set up — and switching between the accounts is super smooth.

How much does it cost to open a business account?

It’s free to open up a business account. We also don’t charge any custody or monthly fees. Investing through a business is low-cost and priced just like investing from your personal account. We also pay interest on uninvested cash for businesses. Check out our full pricing information here.

Opening an account and navigating

How to open a business account?

Go to your profile view and select "Business account". The app will guide you through the whole process.

How to navigate from one account to another?

Go to your profile view and choose which of your accounts you want to view or swipe down from the top of the screen to navigate between your accounts.

How long does it take to open a business account?

Once you’ve signed up, our team will take care of the next steps – typically our verifications take a few minutes during business hours but sometimes, it may take a couple of business days. We’ll keep you updated in the app and reach out to you in case we need more information about your company.

How does depositing to my business account work?

See Everything about deposits and make sure you’re using your business account not your personal account when following these steps.

Will you make business accounts available to companies from other countries?

We definitely want to welcome more businesses to Lightyear. We’re working on introducing company accounts to new countries, as well as expanding the feature for those we’re already available in. Keep a keen eye on our social media and newsletters!
If you wish, you can add your company to the waitlist. Go to your personal profile and tap on the button to open your business account where you can fill out a short request. Relax and let us take care of the rest – we’ll let you know when we’re ready for you.

Transferring stocks

  • If your business holds stocks with another broker and we offer these stocks on our platform, you can transfer them over. Read more from Transferring stocks to Lightyear.
  • You can request to move stocks from your personal Lightyear account over to your Lightyear business account. To request that, reach out to us below and let us know which ones you want to transfer.
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