Yes, you make an account on the new instance but then you can add your original account as a moderator/admin. But beware! If the instance is on 0.17.4 or earlier, and you edit the display name with the remote account, the community will become undiscoverable. It’s a glitch that was fixed in 0.18. Most instances will be on 0.18.1 soon enough so this won’t be an issue for long. Just something to know about.