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SWISSMONEY Iban Accounts with Sepa

Seychelles/Belize company...where bank account??

E

EricVN

Active Member
Jan 26, 2018
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#1
Hello,

i am new here and after readings some post here, i have some questions,
Sorry for my bad english but i am Belgium
I do some Trading/import Export of FMCG products (only trading, i never organize any shipment/freight etc..) and i would like to open an offshore company.
Belize or Seychelles seems like the best options for me (considering price and no accounting, no tax reporting etc..), can you confirm?
The last post about Seychelles and Belize company are older.
to Set up the company seems like easy, Get a Bank Account more difficult now...
May i know where is the best country to open an account actually?
Do you know a nice/trustful company (and cheap..lol) to help me?

Thanks
Eric
 
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#12
diablo said:
Why would you trust anyone in this part of the world ? As soon as you want to transfer your money out of North Cyprus to a EU bank they will block the transfer! So you want to travel each time you need money! It's going to be a bad decission my friend!
Click to expand...

My 2 cents....I strongly disagree with this manichaean view. Should "your picture" be the case, major Intl banks (HSBC & ING) would never be present in the northern side of the island. The TRNC banking system relies completely on its "mother land", Turkey. The reason why every time more people/os companies pick North Cyprus it's exactly because thay can take advantage of the Turkish banking system backing NC financial institutions, without the hassle of OECD/AEI. Basically, every NC company benefits of a bank account with an IBAN no. fully SEPA and EU compliant. No foreign financial institution would ever question or block your transactions unless they fall under the usual screening problems every single "questionable account/transaction" would suffer in any other part of the globe.
 
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#13
@Anabasi any bank you can recommend ? possible to do remote account opening ?

This thread turned into a banking thread and has no relevance to the OP - I have moved it to the offshore banking forum.
 
#16
Anabasi said:
My 2 cents....I strongly disagree with this manichaean view. Should "your picture" be the case, major Intl banks (HSBC & ING) would never be present in the northern side of the island. The TRNC banking system relies completely on its "mother land", Turkey. The reason why every time more people/os companies pick North Cyprus it's exactly because thay can take advantage of the Turkish banking system backing NC financial institutions, without the hassle of OECD/AEI. Basically, every NC company benefits of a bank account with an IBAN no. fully SEPA and EU compliant. No foreign financial institution would ever question or block your transactions unless they fall under the usual screening problems every single "questionable account/transaction" would suffer in any other part of the globe.
Click to expand...
Sorry but, as far as I know, Northern Cyprus accounts are neither SEPA nor EU compliant. As for practical purposes, I think NC is regarded exactly the same as Turkey.
 
#17
That
mrau said:
Sorry but, as far as I know, Northern Cyprus accounts are neither SEPA nor EU compliant. As for practical purposes, I think NC is regarded exactly the same as Turkey.
Click to expand...
That's also what I have heard?!
 
#18
Let's clarify some aspects:-)
in NC there is a two-tiered banking system, one represented by the Turkish Cypriote "Central Bank", that of course it's not recognized by anyone in the globe being NC invaded and militarily occupied by Turkey and even though local authorities are seeking Intl. recognition, no one so far vouched for them (the few they've tried have been "suggested" not to) and the second represented by a discrete number of offshore banks and local branches of turkish banks.
The second ones, they would provide you as a client, an IBAN and SWIFT code for your transaction.
The fact they have to rely on the Turkish mother land doesn't represent a problem to the thousands of UK expats or Russian and other clients from anywhere else to send/receive wire transfers on a global scale.
 
#19
Anabasi said:
Let's clarify some aspects:)
in NC there is a two-tiered banking system, one represented by the Turkish Cypriote "Central Bank", that of course it's not recognized by anyone in the globe being NC invaded and militarily occupied by Turkey and even though local authorities are seeking Intl. recognition, no one so far vouched for them (the few they've tried have been "suggested" not to) and the second represented by a discrete number of offshore banks and local branches of turkish banks.
The second ones, they would provide you as a client, an IBAN and SWIFT code for your transaction.
The fact they have to rely on the Turkish mother land doesn't represent a problem to the thousands of UK expats or Russian and other clients from anywhere else to send/receive wire transfers on a global scale.
Click to expand...
Hi, the fact those offshore banks provide an IBAN and SWIFT code does not mean they are part of SEPA nor EU compliant. Furthermore, as far as I saw from the two banks you suggested in a previous post, it's not possible to receive/send transactions in the client's name. It seems they uses Turkish banks as payment processors and customers must include their names and account numbers in the "Payment Reference" field.
 
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#20
Dear Mrau,
we can spend time in semantics but we risk to lose the perspective.
But as long as you like it, I would adhere your standard.
In my initial post, I wrote that a company, a client of a NC based bank, offshore bank, branch of a Turkish bank, as you prefere, you receive your set of instructions (btw, even from thos mentioned) in order to send/receive wire transfer through SEPA and with your IBAN.
Di per se....the wording doesn't clrearly refer neither explicitly nor implicitly to declare NC banking system "EU/SEPA compliant".
And it couldn't be different since we're talking about NC like it is a sovereign country while it's just a piece of an island that somebody, Turkey, believed it was belonging to them for some reason and decided to invade without, so far, further international recognition.
What sort of SEPA, EU, UN compliancy are you looking for?
The fact that really matters if you look at this "so called jurisdiction" from a perspective client vision, is only related with the possibility you will have to send/receive wires through a fully SEPA compliant mechanism and with an IBAN routing that will bring money either out of into your account.
BTW......with the client's name!
You might like it or not, you might consider it not ethic if we do assume that the only insitution that recognized the NC banking system is the Islamic Financial Service Board in Malaysia.
But the fact is....yes, as a client...I use IBAN and SEPA system to send/receive wires with both personal and corporate accnts.
Like thousands of others perform on a reguarly basis.
All the rest....just semantics.
 
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