Bank Account or EMI for an offshore company

[javier]

Hi,

I own an offshore mother company on the BVI and an offshore daughter company in the UK. At the moment i have 2 accounts, one in Euro Pacific and one in Leupay.
I am expected to increase my monthly incoming wires from 5-7K$ per week to 15-25K$ per week. Most of my wires come through credit card processors and when the settlements rise also the document requirements arise from the banks.
Now i am looking for a bank that is solid and does not dig too deep into documents, if such bank exists of course.
If this is not an option, then how would you suggest to build a reputation with a bank (and with which bank) in order to work in such way in the future.


Thank you,
Javier.

 

[traveller79]

I hope I had the same "problem".

Anyways, how about dividing this between 3-4 banks? There are many benefits from this. If you have problem with one bank, you can just use others more until situation is resolved.

I believe many banks learn to trust their customers over time. When you do solid business for years, you can slowly increase your volumes without raising suspicion.

I have few accounts in different banks for different EU companies, so far I have found Paysera to be the easiest EMI, however, my volumes are low there. As my business grows, I plan to add new banks and maybe some new countries.

 

[javier]

I hope I had the same "problem".

Anyways, how about dividing this between 3-4 banks? There are many benefits from this. If you have problem with one bank, you can just use others more until situation is resolved.

I believe many banks learn to trust their customers over time. When you do solid business for years, you can slowly increase your volumes without raising suspicion.

I have few accounts in different banks for different EU companies, so far I have found Paysera to be the easiest EMI, however, my volumes are low there. As my business grows, I plan to add new banks and maybe some new countries.

Hey,
Thank you for the reply.
I am looking into opening an account with cim banque at the moment. Seems like a solid one. And as you mentioned, i believe that having a long term relationship with a bank builds up reputation.
I am just uncertain with which bank to go next.
Anyway, thanks for the opinion.

 

[superman]

cim should be only a solution if no other swiss or liechtenstein bank will accept you as client.

 

[Milky Moon]

cim should be only a solution if no other swiss or liechtenstein bank will accept you as client.

Swiss banks are very conservative, and do require a seizable deposit before they consider starting a relation with you.

If you have an "all kosher" business you can try Bendura or Bank Frick in Lichtenstein, but be prepared for the spanish inquisition.

 

[superman]

@Milky Moon
Yes and no regarding swiss Banks, a recommendation or the right contact make it work. Cim is expensive plus in last time I hear they begin to ask too much questions, both together is not a good deal.

But dear Milky Moon "all kosher" and Ben*ura, is this something new that I missed? Do you mean because they changed the name that it sound more worth and have a new holder they will kick out 70% of their existing customers?

 

[Milky Moon]

@Milky Moon
Yes and no regarding swiss Banks, a recommendation or the right contact make it work. Cim is expensive plus in last time I hear they begin to ask too much questions, both together is not a good deal.

But dear Milky Moon "all kosher" and Ben*ura, is this something new that I missed? Do you mean because they changed the name that it sound more worth and have a new holder they will kick out 70% of their existing customers?

Valartis in Liechtenstein is now called Bendura as they are no longer part of Valartis Switzerland. They will not touch gray area business, so "all kosher" spic&span is a must.

 

[javier]

Hey guys,

Well as far as i researched, cim is the only bank who open's an offshore account without the need to visit it. As for all kosher, as i described at the beginning i am do not wish to open an account with a bank who wants to know everything, and if Swiss banks are like that then perhaps i should search for an alternative.
Do you guys have any experience with a bank when you receive weekly incoming wires of around 25k$? (in 2 or 3 portions). As i said my incoming wires are from credit card processors, and as for now, every time I provided the documents everything seemed fine but the bigger the numbers the deeper is the investigation, and i am trying to avoid that.

 

[JohnLocke]

Usually if you have been honest to the bank from the beginning and when you applied for the account then you should not have such troubles. I have had great experience with Bank of Cyprus and they didn't ask for a lot of documentation. Anyway it could be because of the nature of my business.

 

[javier]

Usually if you have been honest to the bank from the beginning and when you applied for the account then you should not have such troubles. I have had great experience with Bank of Cyprus and they didn't ask for a lot of documentation. Anyway it could be because of the nature of my business.

Bank Of Cyprus sounds like a good option. Can i open an account there for my BVI company?

 

[JohnLocke]

Bank Of Cyprus sounds like a good option. Can i open an account there for my BVI company?

Yes that is possible, they accept almost any country! It will depend on your business if they will accept you as an client.

 

[diablo]

In your particular case there are banks in Hungary, Montenegro and also Czech Republic that currently can satisfy all your needs.

any names please or even better, links ?

 

[javier]

In your particular case there are banks in Hungary, Montenegro and also Czech Republic that currently can satisfy all your needs.

Do these banks offer offshore accounts? If so can you suggest any.

 

[Unpetit10K]

Hi,

I own an offshore mother company on the BVI and an offshore daughter company in the UK. At the moment i have 2 accounts, one in Euro Pacific and one in Leupay.
I am expected to increase my monthly incoming wires from 5-7K$ per week to 15-25K$ per week. Most of my wires come through credit card processors and when the settlements rise also the document requirements arise from the banks.
Now i am looking for a bank that is solid and does not dig too deep into documents, if such bank exists of course.
If this is not an option, then how would you suggest to build a reputation with a bank (and with which bank) in order to work in such way in the future.


Thank you,
Javier.

Hi could you tell us why you chose BVI (instead of Seychelles or Belize for example) and which good provider did you use to set up the company and the EuroPacific Bank account ?
thanks

 

[javier]

Hi could you tell us why you chose BVI (instead of Seychelles or Belize for example) and which good provider did you use to set up the company and the EuroPacific Bank account ?
thanks

Hi, to be honest, I chose opening a company in the BVI without much research prior to that, so i cannot i did it for any good reasons. As far as for Euro Pacific, i just applied for an account myself.

 

[JohnLocke]

Hi, to be honest, I chose opening a company in the BVI without much research prior to that, so i cannot i did it for any good reasons. As far as for Euro Pacific, i just applied for an account myself.

That's a good choice. Have you found a bank that is not doing too much research on large transfers?

 

[javier]

That's a good choice. Have you found a bank that is not doing too much research on large transfers?

I applied to Bank Of Cypress as you suggested. They forwarded my message to international department, still waiting for their response.
Also i applied for an account with Deutche Handelsbank, I will post them the documents sometime this week.
Ill make sure to update on any progress with both of them.

 

[diablo]

great, not sure if already suggested but have you tried to open an account with Mistertango – Smarter Payments Online they are quick and easy to open an account with!

 

[Green]

great, not sure if already suggested but have you tried to open an account with Mistertango – Smarter Payments Online they are quick and easy to open an account with!

It only could be transact in SEPA

 

[diablo]

What about Revolut?