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[2023] Best jurisdiction for IT company & bank account with 2 RU shareholders and 1 EU shareholder?
- Thread starter DavidS
- Start date
Your gonna have to just take whatever you can get in terms of finding a bank as you won't really get to decide. You may end up with a Central Asian bank.
In terms of jurisdiction that is dependent on where your customers are based and their preferences. Jurisdiction is least of your worries however.
P,.S I know of Russian shareholders of a Swiss company still using CIMB Bank for example and this was up to late last year. But I don't know if CIM changed policy recently and cleared them all out.
In terms of jurisdiction that is dependent on where your customers are based and their preferences. Jurisdiction is least of your worries however.
P,.S I know of Russian shareholders of a Swiss company still using CIMB Bank for example and this was up to late last year. But I don't know if CIM changed policy recently and cleared them all out.
What is the reason you say jurisdiction don't matter? Many corporations, entities and banks won't work with a Russian LLC, but won't have issues with an Armenian LLC for example.
Any idea which jurisdictions are still neutral, friendly with RU shareholders?
Georgia, Armenia, Kazakhstan, Azerbaijan?
You have to understand that even if some of the jurisdictions are neutral today, that doesn't mean they will be neutral tomorrow. You set everything up, move the funds to the account and then they get blocked and then the UBO passport saga starts.
The reality is that you have plan your structure in a way where the RU passport holders are not visible. Might sound strange but I would consider Gibraltar + have a good lawyer there (like Hassan's, who are not only a law firm but also a "fixer"). Why Gibraltar - well, because I personally know people who live a bank there with RU and BY(Belarus) passports, no issues as of now, but all the paperwork has to be crystal clear (your law firm can help you with that).
The reality is that you have plan your structure in a way where the RU passport holders are not visible. Might sound strange but I would consider Gibraltar + have a good lawyer there (like Hassan's, who are not only a law firm but also a "fixer"). Why Gibraltar - well, because I personally know people who live a bank there with RU and BY(Belarus) passports, no issues as of now, but all the paperwork has to be crystal clear (your law firm can help you with that).
I never said this.
If you have Russian residents involved with the company then getting banked is the bigger issue. You can open a company anywhere that suites your customers but banking is another issue unless you look at central asia due to Russia resident shareholders.
Russian nationality is not the problem but Russian residency is.
I see, so with RU shareholders bank account will be the bottleneck. But if banks are in Armenia, Kazakhstan, Azerbaijan, shouldn't it be way easier? Any idea which banks are still accepting? Nothing sus, just indie software development.
You mentioned Central Asia, any banks in particular?
It will be hard to open a bank account in Europe with a Russian passport. Many banks refuse it outright, even if resident in the said EU country. Just my 2 cents
The Russia friendly ones I know of are not accepting non-residents any longer or maybe not for a while now actually i.e Golomt Bank and TDM in Mongolia.
P.S Yes I said Mongolia....lol
Guaranteed options are to open a company in Hong Kong and establish a Bank in Montenegro, you will work freely and tax-free. A lot of other jurisdictions exist as well but Hong Kong is the best and most simple option. No alternative.
As it has been mentioned , banking would be your problem. So it appears that in these cases , you should seek to first find the bank that could preliminary confirm that they can on board you and discuss with them also what jurisdictions would be acceptable and then you set up the co.
Bank accounts are also solved, in Montenegro, it is acceptable to open account for Hong Kong Company with Russian Shareholders.
UAE good, but too expensive. Not worth it
That's why I specifically mentioned Caucasus and not Europe.
Sounds good,but jurisdiction and bank needs to be in same country (don't ask, weird rules from partner). So if you get Mongolian bank, you'd need Mongolian company. Maybe that can work, idkThe Russia friendly ones I know of are not accepting non-residents any longer or maybe not for a while now actually i.e Golomt Bank and TDM in Mongolia.
P.S Yes I said Mongolia....lol
I have Russian nationality and EU residency. It was a nightmare to get bank account for my US LLC. Only Wise accepted me.
Do Montenegro banks open accounts for LLCs in other countries (US, in my case)?
Can I open them online?
Could you please tell more, what bank I can look to?
Do Montenegro banks open accounts for LLCs in other countries (US, in my case)?
Can I open them online?
Yes account opening are online via POA, especially about what are you interested?
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