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UK Ltd with emi bank account
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Turner Little - Company Formation Agents

Best offshore bank CIM Bank Review maybe?

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Sols

Mentor Group Gold
Would you consider this bank to be valid for offshore companies with paid share capital of 100.000 euro ?
In general, they don't take offshore companies anymore. You need to be incorporated and based in a reputable jurisdiction. I'm not sure 100,000 EUR is enough to make them set that condition aside.
 

Myotra

New member
In general, they don't take offshore companies anymore. You need to be incorporated and based in a reputable jurisdiction. I'm not sure 100,000 EUR is enough to make them set that condition aside.

I second that, no offshore or companies with complex structure. The requirements of this bank change very fast. They also have problems now with transactions in USD.
 

avalanche

Entrepreneur
I second that, no offshore or companies with complex structure. The requirements of this bank change very fast. They also have problems now with transactions in USD.
problems with USD transactions? why they were rewarded for best USD transactions by Deutsche Bank then?
 

Domino

New member
Could you be more specific on problem with USD transaction, please.
I have a business account with them for more than onу year with majority of transactions in USD. No problem noticed so far but everytime I am afraid of this as already had bad experience in other EU banks.
I second that, no offshore or companies with complex structure. The requirements of this bank change very fast. They also have problems now with transactions in USD.
 

clemens

Corporate Services
Mentor Group Gold
Anyone opened an personal account with them recently? If so any reviews / troubles

Last year I opened an account with them, it was complicated but I got the personal account after I transfered 50K to the account. I'm honestly not using them any longer because they were to complicated to work with.

Are you on the way to open an account with them now?
 

ih8socialism

New member
Last year I opened an account with them, it was complicated but I got the personal account after I transfered 50K to the account. I'm honestly not using them any longer because they were to complicated to work with.

Are you on the way to open an account with them now?
I thought about getting a personal account with them, but I don't feel like deposting 50k with them tbh
 

ivan1911

New member
You may ask them what they will require in your case. In my case it may have been different.
I was interested in opening personal bank account with CIM and they said that initial deposit is 5k € , and minimum balance required is 1k. That seems very reasonable.

However I can't find any real review of the bank.. and that kinda put me off. No real experience so decided to let it go for now..
 

clemens

Corporate Services
Mentor Group Gold
I was interested in opening personal bank account with CIM and they said that initial deposit is 5k € , and minimum balance required is 1k. That seems very reasonable.
that's better, as I said, it is case by case.

You can find some reviews here on the forum:

there are even more, use the below strin on google:
Code:
site:offshorecorptalk.com cim bank
 

Serni

New member
Hello,
I own Scotland LP and some time ago I've got email from CIM demanding me to open an office and to hire an employee in UK. I have an offer from my registration company to send me the documents proofing I have an office and employee for 2350GBP/year. They send me the sublease agreement and work contract with UK citizen for that.
I am struggling if I should pay for that (how long it will help me to save the account?) or search for my luck in another banks (like Russian, for example - I have some good connections there). Or probably rent a real office in UK and hire some person there.
A little bit tired of this cat-and-mouse game and looking for some long-life solution for my business. Even thinking about moving my business to my residential country.
Any thoughts?
 

Mark Rucken

Entrepreneur
Hello,
I own Scotland LP and some time ago I've got email from CIM demanding me to open an office and to hire an employee in UK. I have an offer from my registration company to send me the documents proofing I have an office and employee for 2350GBP/year. They send me the sublease agreement and work contract with UK citizen for that.
I am struggling if I should pay for that (how long it will help me to save the account?) or search for my luck in another banks (like Russian, for example - I have some good connections there). Or probably rent a real office in UK and hire some person there.
A little bit tired of this cat-and-mouse game and looking for some long-life solution for my business. Even thinking about moving my business to my residential country.
Any thoughts?
Yes, CIM has imposed those new rules, they want to get rid of offshore companies.

What is important in your case is would the fact that you are renting office space and have local employees change tax treatment of your entity? UK/Scotland LLP/LP entities do not pay taxes if you do not operate or have physical presence in the UK. This could change your company status and eventually you could get taxed. You better check this before you go for that option.
 

Mark Rucken

Entrepreneur
It is in contradiction with what was posted here on the forum before. CIM Bank is the only Swiss based bank that does not have Swiss citizens customers but 99,9% are foreigners not living in Switzerland!
This is a new requirement as of 3 months ago. They will agree to open non-resident account for your company only if you have a physical presence and employees in the country of incorporation. What about this requirement is a contradiction?

If you are a citizen of Belgium with company incorporated in Belgium with office and employees in your Belgian firm, CIM will onboard you.

if you are a citizen of Belgium with the company in Hong Kong without physical office and employees in HK, they will not onboard your HK company
 

Serni

New member
The last bank you want to go if you are the citizen of Belgium incorporated in Belgium with office and employees in your Belgian firm is CIM.
 

sonato

Offshore Agent
Mentor Group Gold
Looks like the time for real office setups all over the world is booming now. It must be good business if you are able to setup a real office, with employees, with utility and all proforma to satisfy banks all over the world.

If that is what the banks require today, it must be a good business.
 

Mercer

New member
the problem is the lack of privacy, you have to get a fly ticket, you will have to stay in an Hotel and lot's of other things that will leave trailing records! I want a bank where I can oepn the account by e-mail or skype.

Following this logic you should not use internet or phones.

Use flying pigeons with messages to their feet to inform your banker, and smoke signals to talk with your "associates"...
 

erni

Mentor Group Gold
Where would it be cheapest to setup a entire office with staff etc. to please CIM Bank and any other bank in Europe i.e. Cyprus, Georgia so forth?
 
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