Recent content by inector

If I have invested 500k with IBKR EU business account into bonds, mutual funds, and stocks - how quickly can I turn it into cash? Withdrawn to the bank. Would I pay withholding tax for the withdrawn 500k (assuming no dividends in the year)? Are there any fees or issues with withdrawing anyway

Non-resident US LLC, EU citizen owner needs Physical VISA Debit Cards. Reselling business, not dropshipping. Mercury: Account closed after a year, no reason Wallester: Applied Wise: Temporarily closed cards Brex: Rejected Trynovel: Rejected Everest: Cool Soldo alternative, but not accepting US...

Since Amex is not in Estonia, what are some good business cards with travel / hotel points (like Amex)? Estonian resident owner as well.

This was just my rant of how to compensate limited number of transactions for investment banks, not part of this thread :)

That could also work or some local banks in Turkey (assuming no connection to big banks) No SWIFT needed and it's for a long-term Turkish resident After some research, local investment banks seem to fit as well - much safer than rural banks, operate in TRY, but are limited in transactions. As...

Not for a Russian friend :) Another one, but with a good citizenship this time. Really struggling to find “Zand” seems to fit, its an online bank in UAE, but doesn’t look safe at all Another is “AlBaraka”, a Turkish bank, they dont have international presence, but they unfortunately work with...

Any banks in Turkey / UAE that only operate in local currency? Meaning that there is no USD / EUR accounts at all provided

Small expansion of this thread: Assuming a Russian individual opens a Turkish / Kazakh bank account, but he opens KZT / TRY account (and not USD / EUR) He transacts only in KZT / TRY , so there are no correspondent banks like JP Morgan, Commerzbank, etc. Is the bank still taking any risk by...

Technically, since UBO won’t live there. Not for a Russian passport in this case. Thanks for your experience, whats your nationality (EU / Non-EU) and turnover?

Is it possible to open UAE bank account for a non-crypto company without any substance in 2024? Assuming business residence visa, *no apartment in UAE*, low-tier passport, 50-100K per month revenue, If not, how much substance is enough - office + 1/2/3 employees?

A holding company in Nevis opens a bank account for its branch in Singapore. That way only SG branch has the account. Would that bank also open an account for the holding? I know it works other way around, but curious if it can work from branch to holding.

What if the company doesn’t rent the truck? It just pays for it. Because renting takes responsibility, and the company doesnt want that.

Let's say company A owns a truck. That truck has a lot of maintenance fees, like parking, gas, employees, etc. Company A doesn't want to pay for these (for weird reasons) The owner makes Company B to pay for all of that. But Company B doesn't own the truck, they just have a contract. Is...

One of my friends' businesses was rejected by Airwallex, and Mercury closed the account after 1 year (even with US operations). Not sure why, maybe because US operations were with another non-resident US entity. All legal, EU citizenship

If they later find out, how to choose an EMI so they don't freeze the funds, but give them back? I have a feeling that EU ones will freeze funds (even high-risk Lithuanian ones?) But for example 3SMoney has a license in Dubai, would that save us from frozen funds?