Cyprus Resident Dividends - need a bank

[nitehawk]

I have a friend that has a BVI forex company but lives in Cyprus and has tax residency here. He tried to pay himself a dividend from his BVI company bank account to the Bank of Cyprus but the Bank of Cyprus rejected his payment because it came from a forex company.
Is there any other bank in Cyprus or Europe he could open to receive this dividend? Whats the best way for him to collect his money?

 

[nitehawk]

anyone? would be great to get some help regarding this question.

 

[Sols]

Hellenic Bank and Alpha Bank are sometimes more lenient when it comes to this type of income, so try those.

Is the BVI company licensed?

How big is the dividend? If it's over a million or has a chance of reaching a million in recurring dividends inside of a year, RCB might be interested.

 

[heliotrope]

Would Transferwise work in this situation? What's the rough amount?

 

[pesto]

You want to check with TransferWise, I think they can accept a BVI company and would not ask that many questions depending on the amount. Make sure to have invoices for all transactions.

 

[rey skywalker]

take cim bank in ch they will not make you any problem, or dukaskopy

 

[nitehawk]

take cim bank in ch they will not make you any problem, or dukaskopy

thank you for feedback.

 

[nitehawk]

Hellenic Bank and Alpha Bank are sometimes more lenient when it comes to this type of income, so try those.

Is the BVI company licensed?

How big is the dividend? If it's over a million or has a chance of reaching a million in recurring dividends inside of a year, RCB might be interested.

Its not licensed. Its about 5 million euros over 3 years.

 

[nitehawk]

What he did so far was open a Paysera account in his personal name is able to use that to transfer the money. It seems to be working so far.

 

[proexper]

Are you sure Paysera will hold this amount? (even if moved splitted)
(not trying to be negative) just have to be ready to show and prove where come from.
Any EMI will require any explanation

 

[rey skywalker]

paysera after a payment of more than 20 k will freak out, use a normal bank , what happend to cim and dukaskopy?