Bank account in countries which accept payments from Belarus

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mzs034

New member
Good afternoon,

What countries and what banks are still accepting payments to/from Belarus and also work well with EU? Preferably, with semi-fast documents checking procedure when payments are incoming (maximum a week, no waiting a month for payments to be checked). Currency is all USD and EUR, no BYR/RUB. The bank account is for a business that is legal and compliant with EU and US sanctions and regulations. I was thinking countries like Georgia, Kazakhstan, but I have heard that there are problems to do so in Kazakhstan. Turkey maybe?

If it is possible to open a bank account, does it have to be a local company? How difficult/long and expensive is the procedure to buy/open a company and a bank account?

Thank you to anyone who has information.
 

CyprusLawyer101

Mentor Group Gold
Cyprus banks acceots incomings from Belarus. At least we are working with Cyprus banks and receiving payments from our clients in Belarus. If the banks are linked with Russian sabctioned banks then this does not apply.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
I was thinking countries like Georgia, Kazakhstan, but I have heard that there are problems to do so in Kazakhstan. Turkey maybe?

Last time I checked Bank of Georgia owns BNB Bank in Belarus. But BoG bank will have problems anyway as people have seen in this other thread.

 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
We work with all major Banks ENBD, CBD, ADIB, Mashreq, RAKBANK - which bank depends on your individual case.
 

Spinat

Corporate Services
Mentor Group Gold
Elite Member
What particular bank would that be and how do you get an account there?
 

Ilapin

New member
I wiould not be that sure about it. Definitely UAE banks have issues with payments from Belarus, depends from what banks and companies. It is always very convinient to say that the problem is in the correspondence banks you bear no responsibility.
 

mzs034

New member
I wiould not be that sure about it. Definitely UAE banks have issues with payments from Belarus, depends from what banks and companies. It is always very convinient to say that the problem is in the correspondence banks you bear no responsibility.
I agree.

I can write how it is in UAE from my experience - USD are straight rejections for incoming payments, citing internal policy of own correspondent, EUR works but takes up to 2 weeks for internal review. Other currencies untested but assume similar time, as the due diligence is being done by the UAE side also (as inferred by bankers). All in all, possible to receive money, but not a viable long-term working option.
 

Mr Eros

New member
I agree.

I can write how it is in UAE from my experience - USD are straight rejections for incoming payments, citing internal policy of own correspondent, EUR works but takes up to 2 weeks for internal review. Other currencies untested but assume similar time, as the due diligence is being done by the UAE side also (as inferred by bankers). All in all, possible to receive money, but not a viable long-term working option.
Could you please elaborate? What is the name of the bank which you reffer to?

No issues from UAE Banks however when you send in USD/EUR you can always get questions from Western based Correspondence Banks.

Could you please name those UAE banks which dont have any issues with incoming payment from Russia?
 

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