Open a Kraken Business Account for a US LLC: Documents & Verification

Do you want your US LLC to use Kraken to buy, sell or hold crypto assets on behalf of the company? In that case, the account should be opened as a Kraken Business account in the LLC’s name.

The LLC structure itself is not a barrier: Kraken expressly lists Limited Liability Companies among the business types that can apply for a Business account. The more demanding part is often the verification process.

Beyond the formation documents, Kraken may review the ownership structure, EIN, business address and the origin of the funds being used. International LLCs may also be asked for additional evidence after the initial submission.

This guide explains which documents Kraken requires from a US LLC, which issues are especially important for non-resident owners, and how to prepare the application properly from the outset.

Quick Answer

Can a US LLC open a Kraken Business account?

Yes. Kraken expressly lists Limited Liability Companies as a business type that can apply for a Business account. Final approval depends on completion of the corporate and individual verification checks.

Can the LLC owner live outside the United States?

Kraken’s published Business requirements do not impose a general US-residence requirement on the owner. Kraken serves clients across numerous jurisdictions, although the owner’s country of residence can affect whether Kraken or certain products are available in that location.

Which documents does Kraken require from a US LLC?

The core document groups typically include:

• an official formation document,
• an ownership or member register,
• an organisational chart for multi-layer structures where required,
• EIN and official IRS evidence,
• proof of business address,
• KYC documents for beneficial owners and account users,
• Source of Funds documentation.

Kraken can request additional documents after reviewing the application.

How long does Kraken Business verification take?

Kraken’s current German Business FAQ states that, due to application volumes, verification can take two weeks or longer. Kraken also states that the review begins once the required documents have been received.

Can I use my personal Kraken account for the LLC?

No. A verified personal account cannot be converted into a Business account. The LLC requires a new, separate Business account.

Does the LLC already need a business bank account?

For fiat deposits and withdrawals, yes. Kraken requires the bank account used for a Business account to be held in the company’s name rather than the owner’s personal name.

Our guide to business accounts for US LLCs explains how to prepare the banking side.

What Does a Kraken Business Account Offer?

Kraken Business is intended for companies that want to hold or trade crypto on behalf of the business.

Depending on jurisdiction and eligibility, Kraken lists features including:

• personalised deposit and withdrawal limits,
• Kraken Pro,
• higher API limits,
• OTC Desk access,
• margin trading,
• futures,
• staking.

Not every product is available in every jurisdiction.

If you are still comparing different crypto providers for your LLC, see our broader guide Crypto Account for a US LLC: Kraken, Coinbase & More. The sections below focus specifically on opening and verifying the account with Kraken.

Which Documents Does Kraken Require From a US LLC?

Kraken treats several document categories separately. A Certificate of Formation, for example, proves that the LLC exists, but it does not necessarily establish who owns it or where the business is actually operated.

For a typical US LLC, the following areas should therefore be prepared:

Kraken publishes dedicated requirements and examples for these business-document categories.

Certificate of Formation or Articles of Organization

Kraken requires an official document proving the legal existence of the LLC.

Depending on the state, suitable documents can include:

• Articles of Organization,
• Certificate of Organization,
• Certificate of Formation,
• an official Business Registration Extract.

The document must be complete and come from an official or otherwise independent source.

Kraken specifically states that a simple screenshot from a public business register is not sufficient; the full document is required.

In particular, the following details should be consistent:

• legal company name,
• formation or filing date,
• registration number.

Differences between the formation document and the Kraken application can trigger follow-up questions.

EIN: The Exact IRS Naming Matters

This is particularly important for US LLCs.

Kraken verifies the Employer Identification Number (EIN) against official IRS information.

Accepted evidence can include:

• CP 575 EIN Confirmation Letter,
• 147C EIN Verification Letter,
• SS-4 with official IRS confirmation.

Unofficial EIN lookups or self-created summaries are not sufficient.

Particularly Important for Single-Member LLCs

The company name entered in the Kraken application should match the IRS document closely.

Kraken points out that for a single-member LLC the IRS document may include both the LLC and the owner in the name line.

An IRS letter may, for example, show:

ACME LLC JOHN SMITH SOLE MBR

In such a case, Kraken recommends entering the name in line with the IRS record.

Kraken specifically identifies a mismatch between the EIN record and legal company name as a common cause of delays in Business applications.

A small naming issue can therefore generate several unnecessary follow-up requests.

Ownership Structure: The Operating Agreement May Not Be Enough

In addition to confirming that the LLC exists, Kraken needs to understand who actually owns it.

For this purpose, Kraken asks for a current ownership record or share register.

The document should show in particular:

• names of all owners,
• ownership percentages,
• voting rights where applicable,
• the current ownership structure.

Depending on the structure, a current ownership register, cap table or other suitable ownership record may be used.

The Operating Agreement can contain important information about members and management. Kraken nevertheless treats the formation document, ownership record and organisational chart as separate document categories.

It should therefore not be assumed that one Operating Agreement will satisfy every ownership-related requirement.

If a Holding Company Owns the LLC

If another company owns the LLC, the review does not stop at that parent company.

Kraken needs to be able to follow the ownership chain through to the natural persons behind the structure.

A multi-layer structure can therefore require evidence for:

US LLC → parent company → additional holding company → natural-person UBOs

Additional ownership documents can be required at each relevant level.

UBOs and Account Accessors Are Personally Verified

Kraken does not verify only the company.

The individuals behind the business are also reviewed.

This includes in particular:

• beneficial owners,
• individuals with significant control,
• people who will have access to the Kraken account.

For ownership verification, Kraken generally identifies individuals with at least 25% direct or indirect ownership, as well as a person with significant responsibility for managing the company.

These individuals may need to provide:

• identity document,
• residential address,
• personal proof of address,
• personal tax ID where applicable,
• individual verification.

A non-resident owner’s actual country of residence should therefore be stated correctly from the beginning.

The LLC’s US address and the owner’s personal residential address are two separate data points.

Who Can Open the Kraken Account for the LLC?

Not every employee or representative of the LLC is automatically authorised to open the Kraken Business account.

For an LLC, the Managing Members or Managers identified under the Operating Agreement are particularly relevant.

If someone else submits the application, Kraken may require additional evidence showing that person’s authority.

Kraken has a dedicated Letter of Authorization process. For an LLC, the required signatures depend on the Managing Members or Managers and the provisions of the Operating Agreement.

For a straightforward single-member LLC, this is often simple.

With several members, an external manager or a holding structure, authority to act should be clearly documented before the application is submitted.

The Business Address Is Particularly Important for Non-Resident LLCs

The business address is one of the areas Kraken itself identifies as a frequent source of delays.

Kraken’s guidance requires a document that:

• shows the exact company name,
• contains a complete physical business address,
• was issued within the previous 90 days,
• comes from an identifiable institution or authority.

Possible documents include:

• business bank statement,
• utility bill in the company name,
• IRS correspondence or Federal Tax Notice,
• letter from a state or local authority,
• signed commercial lease.

Registered Agent, Virtual Office and Operating Address

Many non-resident LLCs use a Registered Agent address in Wyoming, Florida or Delaware.

That address should not automatically be treated as the place where the company’s day-to-day business is carried out.

Kraken distinguishes between Registered Address and Operating Address in the Business application and needs to understand the address actually associated with the business.

A Registered Office or Principal Place of Business may also be relevant, provided the document clearly links the legal company name to a real physical address.

For Virtual Office or Registered Agent arrangements, Kraken recommends contacting the onboarding team in unclear cases before submission to confirm which form of evidence will be accepted.

For international LLCs, clarifying this before applying is generally better than entering an address that later cannot be supported with acceptable evidence.

Source of Funds: Kraken Wants to See the Actual Money Flow

With a Kraken Business account, the company must be able to show where the funds being used come from.

Kraken expressly distinguishes Source of Funds from evidence of how wealthy the business is.

The relevant question is:

Where does the money moving through the account actually come from?

According to Kraken, suitable evidence should generally show:

• company or account-holder name,
• the specific source of incoming funds,
• transaction dates and amounts,
• the issuing bank or institution,
• a current document date.

Kraken lists examples including:

• business bank statements from the previous three to six months,
• audited or certified financial statements,
• investment or brokerage statements,
• loan or credit agreements,
• signed contracts,
• invoices evidencing business revenue.

Example: Ordinary Business Revenue

A clear evidence trail could look like:

Customer contract → invoice → payment into business bank account → transfer to Kraken

That connection matters more than uploading a large number of unrelated documents.

From our own experience with a Kraken Business onboarding, we also know that additional operating evidence such as invoices can be requested after the original submission.

It is therefore useful to have these documents organised before applying.

Existing Crypto Holdings

If the LLC will use existing crypto holdings, Kraken may require additional evidence showing how those assets were originally acquired.

Examples can include:

• statements from other crypto exchanges,
• wallet evidence,
• original acquisition records,
• mining payouts,
• staking records,
• lending documentation.

For larger holdings, reconstructing several years of wallet and exchange history can be considerably more work than opening the account itself.

For more detail, see our guide on Source of Funds for companies.

How the Kraken Business Application Works

Step 1: Create a Separate Business Account

The LLC needs its own Kraken Business account.

An existing personal Kraken account cannot later be converted into a Business account.

Step 2: Enter the Company Details

Kraken asks for information including:

• legal company name,
• registration number,
• formation date,
• legal form,
• Registered Address,
• Operating Address,
• business activity or industry.

These details should be checked against the official documents before anything is uploaded.

Step 3: Add Owners and Relevant Individuals

UBOs, controlling persons and Account Accessors are added and then individually verified.

For holding structures, the ownership levels above the LLC also need to be disclosed.

Step 4: Upload the Corporate Documents

These typically include:

• formation document,
• ownership evidence,
• organisational chart where required,
• EIN evidence,
• proof of business address.

Additional documents may be needed depending on the case.

Step 5: Explain Intended Use and Source of Funds

Kraken may ask about:

• intended use of the account,
• expected deposits and withdrawals,
• trading volume,
• fiat and crypto assets to be used,
• source of the funds.

The information should be realistic and consistent with the actual business model.

Step 6: Submit the Complete Application

Kraken states that the review starts once the required documentation has been received.

Step 7: Answer Follow-Up Questions Precisely

If the verification team requests another document, the response should address exactly the point being reviewed.

More documents are not automatically better.

The goal is to make the relationship between the company, business activity, owners and money flow easy to understand.

How Long Does Kraken Business Verification Currently Take?

Kraken’s German Business FAQ states that, due to current application volumes, verification can take two weeks or longer.

Additional follow-up requests can extend the process.

Common causes include:

• missing documents,
• company name not matching the EIN record,
• business address cannot be evidenced,
• ownership structure is incomplete,
• individual verification is still outstanding,
• Source of Funds is unclear.

The most effective way to reduce avoidable delays is therefore to submit the first application as completely as possible.

Common Problems With a US LLC

Company Name and EIN Do Not Match

For single-member LLCs in particular, the exact wording shown on the IRS document should be checked carefully.

Kraken identifies mismatches here as a common cause of delays.

The Operating Agreement Is Used as the Only Ownership Evidence

Kraken treats the Formation Document, Ownership Register and, where relevant, Organizational Chart as separate document categories.

For more complex structures, the ownership chain should therefore be documented explicitly.

The Registered Agent Address Is Used Without Checking It

Whether an address is accepted depends on whether it can be clearly linked to the company through suitable current evidence.

With a Virtual Office or Registered Agent setup, the specific documentation should be clarified before filing.

Source of Funds Is Explained Too Broadly

“Business income” on its own is not evidence.

Kraken wants documentation showing the source, amount and actual flow of the money.

Additional Documents Are Collected Only After Kraken Asks

Kraken can request further information even after a complete initial submission.

Invoices, contracts, bank statements and evidence relating to existing crypto holdings should therefore already be available.

How Bizkonto Supports the Kraken Business Opening

Bizkonto maintains direct contacts with several providers in the business-crypto sector, including Kraken.

This allows us to make a personal introduction to Kraken and then administratively prepare and support the account-opening process. For international LLCs in particular, this can make the process easier because the company documents, ownership structure, business address and Source of Funds can be organised before submission.

Our support can include:

• reviewing the available LLC documents,
• checking the EIN and company-name wording,
• preparing the ownership and UBO structure,
• reviewing the Business Address and available evidence,
• organising Source of Funds and, where relevant, Source of Wealth,
• compiling the required documents,
• making the personal introduction to Kraken,
• submitting the application,
• coordinating administrative follow-up questions during verification.

For non-resident structures, it is often useful to review the documentation before the first submission rather than resolving each requirement only once the review is already underway.

The individuals involved must still complete their personal KYC steps and provide truthful explanations themselves.

Final approval is made exclusively by Kraken. Bizkonto cannot guarantee account opening or verification.

Conclusion: Prepare the Kraken Business Application Properly

Kraken allows US LLCs to apply for a Business account. For international structures, however, a smooth onboarding process depends heavily on whether the documentation is complete and internally consistent before the application is submitted.

Five areas deserve particular attention:

Formation document → EIN → ownership structure → business address → Source of Funds

Small inconsistencies can create follow-up questions. The company name should match the IRS record, the ownership chain should be traceable to the natural persons behind the business, and the stated business address should be supported by suitable current documentation.

For larger fiat or crypto balances, Source of Funds becomes equally important. The company should be able to show where the money or assets came from and how they are connected to the LLC before the verification team asks.

Kraken currently states that Business verification can take two weeks or longer due to application volumes. Good preparation therefore helps avoid unnecessary additional rounds of questions.

Bizkonto can review the existing documentation, make a personal introduction to Kraken, submit the application administratively and support communication during onboarding.

Frequently Asked Questions

Can a US LLC open a Kraken Business account?

Yes. Kraken expressly lists LLCs among the business types that can apply for a Business account.

Can I use Kraken with a US LLC if I do not live in the United States?

Kraken’s general Business requirements do not state that the owner must live in the United States. The owner’s country of residence must, however, be supported, and product availability can vary by location.

Which EIN documents does Kraken accept?

Examples include CP 575, 147C and an SS-4 with official IRS confirmation.

Does the owner need an SSN?

Kraken asks for personal tax information. An SSN is required only where applicable to the individual or jurisdiction. Other tax IDs may be relevant depending on the case.

Can the Registered Agent address be used?

Not automatically. Kraken requires suitable evidence linking the company’s legal name to a real physical address. For Registered Agent or Virtual Office arrangements, Kraken recommends clarifying the specific setup with the onboarding team.

Does Kraken ask for invoices?

Not in every application as a standard requirement. Kraken can, however, request further evidence relating to business activity or Source of Funds. Contracts and invoices are expressly listed among possible Source-of-Funds documents.

How long does Kraken Business verification take?

Kraken’s current German FAQ states two weeks or longer due to application volumes. Additional requests can extend the processing time.

Can I convert my personal Kraken account into a Business account?

No. The LLC needs a separate Business account.

Does Kraken require a business bank account for the LLC?

For fiat deposits and withdrawals, the bank account used must be held in the company’s name.