Banking solution for an existing IBC Seychelles

EricVN

Active Member
Hello,
I have an IBC Seychelles company with banking in Europacific.
Scope Consulting.

I am looking for a new banking solution as I am facing some pbs to withdraw large amount of money.

Please let me know if any of you have reliable solution in a secure country.

Thanks a lot

Nb : i can travel anywhere in Asia
 

TurnedToRobot

Trusted Member
Business Angel

EricVN

Active Member
@James Turner please do not hesitate to share some if you have ideas

@darkster, i use EPC since few years...nothing real wrong but now, many of my customer don't want to use this bank, and i have some problems to withdraw money (approx. 50k $ / month)

I found one agent in Asia, who propose to open an HSBC account in Singapore for my Seychelles Company. Total HSBC fees / Year will be around 4k$!! ...

so always open to any good advice!

tks
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
I have an IBC Seychelles company with banking in Europacific.
Scope Consulting.

I am looking for a new banking solution as I am facing some pbs to withdraw large amount of money.
Best decision you will ever make to move away from EPB.

i use EPC since few years...nothing real wrong but now, many of my customer don't want to use this bank, and i have some problems to withdraw money (approx. 50k $ / month)
What exactly is the issue so the same problem is not repeated at another bank? Does EPB the claimed 100% reserve bank stall outgoing payments with various compliance excuses? Is it not strange that a bank that claims to make its money of wire and monthly fees does not like doing outbound wires. Is CEO buying yachts and houses with client money...who knows.
 

James Turner

Trusted Member
Business Angel
Mentor Group
@James Turner please do not hesitate to share some if you have ideas

@darkster, i use EPC since few years...nothing real wrong but now, many of my customer don't want to use this bank, and i have some problems to withdraw money (approx. 50k $ / month)

I found one agent in Asia, who propose to open an HSBC account in Singapore for my Seychelles Company. Total HSBC fees / Year will be around 4k$!! ...

so always open to any good advice!

tks
I would suggest Mauritius or there are some Seychelles banking options open to you.

I would be extremely surprised if a HSBC Singapore Account could actually be opened for a Seychelles Company, regardless of the fee's I do not believe it will happen.
 

James Turner

Trusted Member
Business Angel
Mentor Group
Best decision you will ever make to move away from EPB.



What exactly is the issue so the same problem is not repeated at another bank? Does EPB the claimed 100% reserve bank stall outgoing payments with various compliance excuses? Is it not strange that a bank that claims to make its money of wire and monthly fees does not like doing outbound wires. Is CEO buying yachts and houses with client money...who knows.
The issue with EPB is over-compliance. They want to check absolutely everything in so much detail that it becomes almost impossible to work with them. The documentary requirements relating to transactions can be laughable at times and in some cases impossible to supply.
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
The issue with EPB is over-compliance. They want to check absolutely everything in so much detail that it becomes almost impossible to work with them. The documentary requirements relating to transactions can be laughable at times and in some cases impossible to supply.
Ok I see.

The problem with EPB is they are not driving the compliance requirements. The correspondence banks they use - predominately RBS (Natwest) in UK is requesting this information. The correspondence bank actually gets given all the information you provide if a payment you receive or make gets spot checked by the correspondence bank. Any failure of the spot check could end the correspondence banking relationship as it did in the past.

Also the information gathered by correspondence banks is shared with foreign agencies via local agencies etc. As 99% of EPB clients are criminals or tax evaders this is a big problem. So keep in mind all the documents you supply on a payment are in third-party hands outside the bank. If you don't believe me then ask them directly.....lol.

Anyway I digress a little. My prediction I made earlier that EPB will run into trouble this year I stick with as business model makes no sense in 2019.
 

Sols

Building Trust
Entrepreneur
Other than some of the higher-risk EMIs (MisterTango, SatchelPay, Payment Execution), you probably won't find any banks willing to take you on without an introducer. Easiest is to go back to whomever formed the Seychelles company for you and discuss opening a new bank account.

Failing that, consider the ins and outs of forming a new company in a more reputable jurisdiction with a corporate service provider with a better network of banking partners.
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
I forgot but if you search the forum some people have had success opening an EMI account with Transferwise for Seychelles companies. Might be an option if you don't plan on using USD.
 

James Turner

Trusted Member
Business Angel
Mentor Group
Banking or EMI options exist for Seychelles Companies but you will have limited options and if the activity of the company is also considered high risk or hard to place then this will further limit your options. As @Sols suggests you may want to consider creating a company in a more reputable location which opens up additional banking options to you.
 

Oreo86

Mentor Group
Mentor Group
Some Singapor banks will welcome to Seychelles with 30K USD daily balance.
Google it for find some agents there
 

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