What is Good standing?
A certificate of good standing is an official document from a company registry confirming that a company exists, has paid its fees, and has filed what the law requires. Banks, payment processors, and counterparties request it - usually issued within days and expected to be less than 3–6 months old.
When you will be asked for one
Opening any bank or EMI account for a company more than a few months old; onboarding with PSPs, exchanges, or app stores; signing major contracts where the counterparty runs KYB; renewing licenses; and any cross-border filing that must prove the company is alive. For foreign use, pair it with an apostille - an unapostilled certificate is routinely rejected abroad.
Getting one in common jurisdictions
Delaware: order from the Secretary of State, same-day expedited service available, roughly $50 plus fees. BVI: request through your registered agent - only agents can order, typical turnaround 2–5 days, $100–200 plus agent handling. Hong Kong: a Certificate of Continuing Registration from the Companies Registry, plus banks often want a Business Registration Certificate copy. Build a week of buffer into any process that requires a fresh certificate, two weeks if apostille is needed.
What breaks good standing
Unpaid annual fees or franchise tax, missing annual returns, or a resigned registered agent. A company out of good standing cannot get the certificate, which quietly blocks banking and deals until cured. Cure is usually paying arrears plus penalties; if the company was struck off, formal restoration takes weeks and legal fees. Calendar the annual fees - the certificate is cheap, losing standing is not.
Frequently asked questions
How recent does a certificate of good standing need to be?
Institutions set their own rules; under 3 months is the common bar for banks, under 6 months for many counterparties. Order a fresh one per process rather than reusing an old copy.
What if my company is not in good standing?
Pay the outstanding fees and penalties and file missing returns - standing usually restores within days. If the registry already struck the company off, a formal restoration procedure applies, taking weeks and costing significantly more.
Ready to put this into practice?
OnScale handles the full setup - formation, KYC, and documents - with one fixed price and one point of contact.