Best EMI for Cyprus resident Company?

[crsp]

After reading here, it looks like banks in Cyprus won't open business accounts for resident Cyprus companies if the company is just to process crypto > fiat exchange withdrawals into dividends - and you need to use an EMI somehow.

Can you use an EMI to facilitate the same process? If so, are there issues such as safety, amount limits, frequency, proof of source of funds, etc?

For a Cyprus tax resident, non-dom with no more than 12 (could just be 3 or 4) crypto exchange withdrawals a year. Dividend payments would go to a personal offshore account.

Also, can you even incorporate a resident Cyprus companies if the company is just to process crypto > fiat exchange withdrawals into dividends without hassle/falsification/being (illegally) misleading? (Ie. a company with really nothing in the way of physical presence or substance).

Are there (safe/acceptable) banks elsewhere in the world that will open business accounts for resident Cyprus companies with such a setup?

Thanks.

 

[Gediminas]

Hey,

Can you use an EMI to facilitate the same process? If so, are there issues such as safety, amount limits, frequency, proof of source of funds, etc?

Yes, you can, just find the right one, avoid mass-market institutions such as Revolut or Transferwise.

You can trust reliable EMI's and there won't be any limits and yes, you will need to have a document backing up your SoW.

 

[crsp]

Thanks for reply. Any recommendations on a reliable EMI?

 

[sonato]

Thanks for reply. Any recommendations on a reliable EMI?

you want to start with clicking on this service providers banner

Check the banner under users avatar to find relaible service providers here at offshorecorptalk!

Finally you can go into the resource section of this forum https://www.offshorecorptalk.com/resources/ and look around there, plenty of banking, crypto exchanges and much more including payment providers!

 

[Gediminas]

Thanks for reply. Any recommendations on a reliable EMI?

Yep, I would recommend Bankera. Good prices, good team, trustworthy!

 

[crsp]

No - nothing for active trading for myself or others.