Question The joys of setting up a BVI Co and then getting a bank account

[Klippe13]

Hey Folks, new here and ran out of free page views. I have incorporated in the BVI, offering a learn to earn education portal, with a crypto rebate attached. It is a subscription service.

Currently struggling to find a bank whom we could work with, offering merchant services for the recurring e-commerce payment, since not many BVI banks offer said service.

CIBC flat out refuses any affiliation to crypto related businesses.

Any ideas on how to skin the cat would be appreciated.

Regards

 

[exprtadvisrdev]

Hey Folks, new here and ran out of free page views. I have incorporated in the BVI, offering a learn to earn education portal, with a crypto rebate attached. It is a subscription service.

Currently struggling to find a bank whom we could work with, offering merchant services for the recurring e-commerce payment, since not many BVI banks offer said service.

CIBC flat out refuses any affiliation to crypto related businesses.

Any ideas on how to skin the cat would be appreciated.

Regards

without traveling and without a couple of hundreds of thousands you wont be able to get an account in a real bank.

Try with EMIs first and once you have got reputation and money try again with banks. Bankera accepts crypto related business, asked them if they accept BVI business

 

[Klippe13]

without traveling and without a couple of hundreds of thousands you wont be able to get an account in a real bank.

Try with EMIs first and once you have got reputation and money try again with banks. Bankera accepts crypto related business, asked them if they accept BVI business

While Bankera can offer me an account, they cannot offer me e-commerce capability... (

 

[JohnLocke]

And what about the more risky processors like Instabill or some of the Russian payment processors like Payeer and similar?

 

[Klippe13]

And what about the more risky processors like Instabill or some of the Russian payment processors like Payeer and similar?

Might have a work around, based on communication with Stripe.

Stripe requires my Stripe Account and Bank Account to be in the same country, however, I need to confirm this is an option. I assume it will only be through trial and error. Have anybody been able to link EURO PACIFIC to Stripe?

 

[JackAlabama]

Might have a work around, based on communication with Stripe.

Stripe requires my Stripe Account and Bank Account to be in the same country, however, I need to confirm this is an option. I assume it will only be through trial and error. Have anybody been able to link EURO PACIFIC to Stripe?

no bvi for stripe afaik

 

[Klippe13]

no bvi for stripe afaik

Correct, however the requirement is not where the business is registered, but where the bank account is held... Whether I fail or succeed, I'll relay my experience.

 

[Martin Everson]

BVI + Crypto = Compliance officer face looking like ->>

No point me stating the obvious here.

Have anybody been able to link EURO PACIFIC to Stripe?

Does EPB even accept crypto related business?

 

[JackAlabama]

Correct, however the requirement is not where the business is registered, but where the bank account is held... Whether I fail or succeed, I'll relay my experience.

Ah really?
Is the requirement not business + bank in the same country which is the one of incorporation.
Up to today I was pretty sure stripe only pays to bank accounts in the country of the business which in turn must be on their list.

 

[exprtadvisrdev]

Does EPB even accept crypto related business?

They don't (or at least that was what they told me some moths ago)

 

[Fred]

https://www.bankasia.com/en/home.htm

At least they mention Crypto as upcoming on the website.

They are struggling since forever with correspondence banking. Last I have in mind was a Hong Kong based bank before they switched to UK EMI Snowypay.

 

[Klippe13]

https://www.bankasia.com/en/home.htm

At least they mention Crypto as upcoming on the website.

They are struggling since forever with correspondence banking. Last I have in mind was a Hong Kong based bank before they switched to UK EMI Snowypay.

Hey Fred, Thanks so much. If I have the time, could I soundboard something with you? (or any other interested member) I am starting to go crazy here...