In a move reflecting growing global regulatory requirements, Wise Business—formerly known as TransferWise—has begun requesting proof of the right to reside in the country of business registration for non-U.S. residents. This update impacts international users of Wise’s business services, particularly those operating businesses in countries where they do not hold citizenship or permanent residency.
Why Is Wise Asking for Right to Live Documentation?
Wise is a regulated financial institution and must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations in the jurisdictions it operates in. These regulations are increasingly strict, requiring financial institutions to:
Verify that businesses are legitimately registered.
Confirm that business owners or controllers have the legal right to operate from the country where the business is registered.
Prevent misuse of cross-border accounts for illicit financial activities.
As such, Wise has started requesting documents proving the legal right to live in a particular country when the business owner is not a citizen or permanent resident of that nation.
Who Is Affected?
This new requirement is specifically relevant to:
Non-residents who have businesses registered in countries they do not currently reside in.
Expats, digital nomads, or foreign directors of companies operating across borders.
Individuals or entities trying to open Wise Business accounts in countries where they are not legal residents.
What Documents Might Be Required?
Depending on the country and your immigration status, Wise may request one or more of the following:
Residence permit
Work visa
Permanent residency card
Utility bill confirming local residence (in some cases)
Certificate of tax residency
Any government-issued document proving the legal right to reside or work
What Happens If You Cannot Provide the Documentation?
If you are unable to submit valid documents proving your right to live in the business’s country of registration, Wise may:
Delay or reject the application for a Wise Business account.
Suspend the existing account pending verification.
Require you to update your business address or registration details.
What You Can Do
If you’re affected, consider taking the following steps:
Review your current residency or visa status in the country where your business is registered.
Prepare your documentation in advance if you’re planning to apply for a Wise Business account.
Contact Wise support if you’re unsure which documents are acceptable for your specific situation.
If you are running a business remotely, consider legal or tax advice on how to structure your company in a compliant way.
Final Thoughts
Wise’s new documentation requirement may create additional hurdles for some users, but it reflects the increasing emphasis on compliance and transparency in global financial services. For businesses operating across borders, maintaining proper documentation is essential not only for using services like Wise but also for broader legal and tax compliance.
If you’re a non-U.S. resident affected by this change, ensuring you have the right to live in the country your business is registered in—or adjusting your registration—will be key to maintaining uninterrupted access to Wise Business services.
