When you sign up to Wise, you’ll need to give some details about your business. It’s how we keep your money safe, and comply with the regulations in the Philippines.
What information we'll ask for
We’ll ask for basic business details, including:
Business name, company type, and activities
Official registration number
Business registration address and trading address
How you intend to use Wise
Directors and Beneficial owners of your company (if applicable)
Learn more about business verification
Business type
On top of the basic details of your business, we'll need additional information to verify your account depending on the company type.
Sole Proprietorship
To open a Wise business account as a sole proprietorship, you’ll need to provide:
Photo ID and a selfie of the person opening the Wise account
Certificate of Registration issued by the Department of Trade and Industry (DTI) — we won't be able to onboard you as a sole proprietorship without a DTI certificate
If you're opening an account on behalf of the business owner, we’ll also need a signed authorisation letter on behalf of a sole proprietorship
Corporation
To open a Wise business account as a corporation, you’ll need to provide:
Photo ID and a selfie of the person opening the Wise account
Certificate of incorporation issued by the Securities and Exchange Commission (SEC)
Article of Incorporation
Latest General Information Sheet (GIS) which shows the ultimate beneficial owners (UBO) and directors of the business
Photo ID for each individual who owns 20% or more of the company, as well as the managing director and controlling person of the company
We’ll also need a letter authorising the account holder to open a Wise business account. This authorisation letter needs to be signed by your company secretary and notarised by a Notary or comparable authority — download a template for the authorisation on behalf of a company
Partnership
To open a Wise business account as a Partnership, you’ll need to provide:
Photo ID and a selfie of the person opening the Wise account
Certificate of incorporation issued by the Securities and Exchange Commission (SEC)
Partnership Agreement which shows Partners / Beneficial owners of the business
Photo ID for each individual who owns 20% or more of the company, as well as the managing director and controlling person of the company
We’ll also need a partnership resolution signed by all partners of the business authorising the account holder to open a Wise business account. This resolution doesn't need to be notarised — download a template for the authorisation on behalf of a partnership
Additional Information
In certain cases, when you create and use your Wise Business account, we might ask you for some additional information such as proof of where your business money comes from. This is how we’re regulated, and it helps us keep Wise safe for everyone.
We might ask you for proof of your business’ funds:
when you open your account
if you make an unusually large transfer compared to your business’ normal activity
if you move an unusually large amount over time — for example, you move a lot in one month
Learn more about proof of business funds
Can’t find your company type?
As of now, we only onboard sole proprietorships, corporations, and partnerships to Wise. Trusts and Cooperatives can’t use Wise to send money from the Philippines at the moment.
Are there any limits for my business?
Yes, there are certain limits that may apply to your business in the Philippines.
Learn more about limits for your Wise Account in the Philippines