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Need EU IBAN for US company - Wise & Nominees?

cer955

cer955

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Mar 9, 2021
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#1
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Hello everyone,
I own a US LLC and living in UAE.
I had a Wise Business account for this LLC but now it got closed, I think because they don't like my residency (I am the manager in the LLC).

Would setting up a new US LLC with a local nominee solve the problem?
Doesn't Wise ask for UBO?

Thanks
 
#3
cer955 said:
Hello everyone,
I own a US LLC and living in UAE.
I had a Wise Business account for this LLC but now it got closed, I think because they don't like my residency (I am the manager in the LLC).

Would setting up a new US LLC with a local nominee solve the problem?
Doesn't Wise ask for UBO?

Thanks
Click to expand...

Use Mercury

I dont know why you used Wise in the first place?


Anyway living in UAE is not good if you seeking any banking services
 
#4
Alexmorgan said:
Use Mercury

I dont know why you used Wise in the first place?


Anyway living in UAE is not good if you seeking any banking services
Click to expand...
I used Wise because I need EU IBAN, I also have Mercury but it's not easy to receive payments (we do B2C with EU clients).

bonox said:
yes they do.

You will need to have full nominee service in place if you want to have a Wise account for your US LLC.
Click to expand...
Do you know any reputable service provider?
 
#8
Alexmorgan said:
Anyway living in UAE is not good if you seeking any banking services
Click to expand...
Best is to get dual legal residence (but not tax residence) in order to access better banking abroad. Sometimes even long term visa helps.
 
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#10
cer955 said:
Actually I have another residency in EU country but no proof of address, how to handle that?
Click to expand...
Normally banks ask for utility bills at the very minimum
 
#11
Don said:
Normally banks ask for utility bills at the very minimum
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It's true, in the past, a bill from electricity or heating was enough for the bank, but now they want a tax number; otherwise, they withhold the tax for you!
 
#13
lonizzita said:
i don't understand. please can you explain further?
Click to expand...
He means that you should apply for a visa in the US, EU, Japan or Singapore. Once you are resident in those countries, doors to banks open faster than you can imagine.

Most banks just like local residents and are not interested in non-residents for which they must do all the CRS reporting and more often than not, they only came for dubious activities in the first place. That's why so many Swiss banks got closed by your glorious Peace Nobel laureate Barack Hussein Obama.

Swiss banking was good in the nineties. You go to the bank, ask for an account, they ask for which name they can put into the booklet and then hand you over the passbook. It was good until some EUSSR dudes thought they can save taxes that way and then they were simply to many.
 
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#16
daniels27 said:
He means that you should apply for a visa in the US, EU, Japan or Singapore. Once you are resident in those countries, doors to banks open faster than you can imagine.

Most banks just like local residents and are not interested in non-residents for which they must do all the CRS reporting and more often than not, they only came for dubious activities in the first place. That's why so many Swiss banks got closed by your glorious Peace Nobel laureate Barack Hussein Obama.

Swiss banking was good in the nineties. You go to the bank, ask for an account, they ask for which name they can put into the booklet and then hand you over the passbook. It was good until some EUSSR dudes thought they can save taxes that way and then they were simply to many.
Click to expand...
Suppose I want to open an account in Switzerland, you tell me it is better to indicate my Swiss residence, at which point I will have to pay taxes in Switzerland, where is the advantage?
unless you have multiple residences in tax-free countries.
 
#17
lonizzita said:
Suppose I want to open an account in Switzerland, you tell me it is better to indicate my Swiss residence, at which point I will have to pay taxes in Switzerland, where is the advantage?
unless you have multiple residences in tax-free countries.
Click to expand...
The only tax you pay are the 35% on interests. If you live in a treaty country, you can claim those back with the ESTV directly. If you live in Switzerland, you get them back few days after you filed your tax return.

I highly doubt that your investment is depending on Swiss bank's interest, they are not exactly known to pay much.
 
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#18
lonizzita said:
Suppose I want to open an account in Switzerland, you tell me it is better to indicate my Swiss residence, at which point I will have to pay taxes in Switzerland, where is the advantage?
unless you have multiple residences in tax-free countries.
Click to expand...
You need to relocate to a country where taxes fits your needs!
 
#19
cer955 said:
Hello everyone,
I own a US LLC and living in UAE.
I had a Wise Business account for this LLC but now it got closed, I think because they don't like my residency (I am the manager in the LLC).

Would setting up a new US LLC with a local nominee solve the problem?
Doesn't Wise ask for UBO?

Thanks
Click to expand...
What did you replace your Wise account with or your UAE company ? are there any EMI's for them beside currenxie ?
 
#20
cer955 said:
Another US LLC with Wise and EMIs for UAE company (3S Money, Satchel)
Click to expand...
3S Money and Satchel still alive and working problem free?
 
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