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Open a new subsidiary

As an organization owner, you may want to open a subsidiary for your company. Here’s a guide to help you through the process.

Open a new subsidiary or entity

Add a new subsidiary account to support a different currency or legal entity within your organisation. Each subsidiary gets its own wallet and can operate in its own currency (e.g., EUR €, GBP £, USD $).

For: Account Owners managing multi-entity companies.

Table of Contents

  • Before you start

  • Step-by-step instructions

  • What happens next

  • Troubleshooting

  • FAQs

Before you start

Requirement

Detail

Role

Account Owner permissions are required to open a new subsidiary

KYC (Know Your Customer)

The new entity must complete a separate KYC verification before its account is active

Documents

A Power of Attorney (POA) is required only if the person opening the account is not a legal representative of the new entity. When required, it must be signed by a legal representative of the new entity specifically. You cannot reuse a POA issued for another entity

Processing time

Entity validation typically takes 48 hours or more, depending on the entity type, documents provided, and current workload

Currency and banking partner

Currency availability depends on your banking partner. Adyen accounts (UK) are GBP-only; opening a EUR account for a UK entity requires creating a new legal entity ("new company" route)

👥 Only Account Owners can open a new subsidiary account.

Step-by-step instructions

Choose either option below to start the process.

Option 1: From the entity switcher

  1. Click your entity's name in the top-left corner of the screen.

  2. Select Add an account.

Option 2: From Settings

  1. Navigate to Settings > Spendesk plan > Company plan and invoices.

  2. Click Add an account.

  3. Select the type of account (a new company, a new entity, or a new currency), then fill out the form with your new entity's information.

  4. Select the country and currency for the new entity.

  5. Click to confirm and submit the form.

What happens next

  • Your new entity enters the KYC verification process.

  • Once approved, the subsidiary's wallet becomes active in the selected currency.

  • Once the subsidiary is created, invite members to it using the standard Spendesk invite process.

⚠️ If the future Account Owner of the new entity is not yet related to the current Organisation Owner (for example, in a sister-company setup), that future Account Owner must provide their own Power of Attorney, signed by a legal representative of their own entity, before the account can be validated.

Troubleshooting

Symptom: The form doesn't let you proceed, or you're unsure whether to select "new company" or "same company."
​ Cause: This choice depends on whether the new entity is a fully separate legal entity or a permanent establishment of an existing one (e.g., a branch with its own VAT number but the same legal registration).
​ Resolution: Contact your Customer Success Manager or the billing team before submitting the form, so they can confirm the correct entity type for your case.

Symptom: You can't create a EUR (or other non-GBP) account for a UK entity on Adyen.
​ Cause: Adyen-based accounts only support GBP. A different currency requires a separate legal entity.
​ Resolution: Use the "new company" option and complete KYC for the new legal entity in the desired currency.

Symptom: Your Power of Attorney is rejected during KYC.
​ Cause: The POA was issued for a different entity, or was not signed by a legal representative of the entity being opened.
​ Resolution: Request a new POA signed by a legal representative of the specific entity you're opening, referencing that entity's own registration number.

FAQs

Q: Do I need special permissions to open a new subsidiary?
A: Yes. You must have Account Owner permissions to perform this action.

Q: Can each subsidiary have a different currency?
A: Yes, each subsidiary can have its own currency (EUR, GBP, USD, etc.), subject to your banking partner's availability.

Q: How do I invite new members to my subsidiary?
A: Once the subsidiary is created, invite new members by following the standard Spendesk invite process.

Q: How long does KYC validation take for a new entity?
A: Typically 48 hours or more, depending on the entity type, documents provided, and current KYC team workload.

💡 Need more help? Contact your assigned Customer Success Manager or the billing team at customer@spendesk.com.

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