offshore bank account with a passport from middle east

[FRANCO]

Hi,

I am resident in Lebanon with a lebanese passport.
I am planning to create a LLC company in Wyoming in USA.
I beleive it's not possible to have a normal account in an existing bank and I should use EMI like revolut, transferwise, n26, etc. Can I be sure that this will be possible even with a lebanese passport ? I don't want to be in a stituation where I've a company without EMI account. In this case, no Stripe so no business.

Thanks

 

[JohnSeed]

You better go an check with the EMI's of your choice if they have any restrictions, most of them have a link on their website or will anser support tickets quickly of that matter.

Anyway, AdvCash and PaySera may be valid options for you.

 

[FRANCO]

Thanks for your response.
But in general, if I have any other passport like an european one, is it simple to open an account with EMI companies ? Because I can see agents to help opening such accounts. If it was simple to create EMI accounts those agents would not exist.

Unless there is something I did not understand.

 

[Gediminas]

I would recommend PERVESK for you as well. I am sure they would open account for you.

 

[Sols]

But in general, if I have any other passport like an european one, is it simple to open an account with EMI companies ?

Yes.

Because I can see agents to help opening such accounts. If it was simple to create EMI accounts those agents would not exist.

Unless there is something I did not understand.

It is simple. Practically no EMIs require an introducer. They're not like banks. These introducers and agents exist becacuse they realise banks are not able to take on clients as easily anymore, so the agents are expanding their network to include EMIs.

Sometimes, an agent can help you through the process or help explain your business to the EMI, which can increase your chances of success. But, for the time being, agents and introducers are largely unnecessary.

I would recommend PERVESK for you as well. I am sure they would open account for you.

You sure do mention them a lot. And it wouldn't seem unusual, if it weren't for the fact that pretty much no one else is.

 

[KJK]

If you had European passport and you wanted to open account (company and/or personal) with an EU-based EMI, of course it would be much much easier.

Lebanon can be considered risky by many banks and EMIs usually have to be more strict than banks. So it really depends on your situation, I understand that you don't want to bank with a local bank that would block your money or limit foreign currency transfers... Maybe Lebanon central bank will collapse soon

I think many larger/bigger EMIs will directly reject you, try some of the new ones - of course there is some risk involved with them.
For bank you can have an introducer of course, that can help.

The combination Lebanon-USA can be a red flag, what will your company do?

 

[JohnSeed]

I have any other passport like an european one,

If that is the case it is a different story and YES you can choose any of the EMI's around and open an account with them, it's not a problem at all.

 

[Gediminas]

You sure do mention them a lot. And it wouldn't seem unusual, if it weren't for the fact that pretty much no one else is.

Well, that's because it's not so widely known yet (I hope it will) and I have a good knowledge about it. We are here to share, right? Only this reason.

 

[JohnSeed]

I would recommend PERVESK for you as well. I am sure they would open account for you.

What are they if you don't mind to share?

 

[Gediminas]

What are they if you don't mind to share?

This group started operating in finances since 2012, they are licensed (EMI and real bank including) and have over a million users. Just these facts speaks its own. You can try with small amounts and see.

 

[Martin Everson]

US LLC + Lebanese Passport + Lebanese Residency + European EMI

That's a horrible high risk picture my friend you painted for any compliance officer at an EMI to deal with. Let us know if you find success.

 

[Martin Everson]

I don't want to be in a stituation where I've a company without EMI account. In this case, no Stripe so no business.

What is your business also and where are your clients based? There maybe a specialist solution potentially.

 

[JohnSeed]

It's going to be very difficult to get something that actually work for you with this scenario

 

[ontherun]

I know Tunisians manage to open N26's remotely with fake proof of address but those are personal accounts, not business accounts

 

[FRANCO]

Indeed, this is my case : US LLC + Lebanese Passport + Lebanese Residency + EMI
My feeling this will not be easy. I am going to contact several EMIs asking if my case will be acceptable for them. Hope I'll be able to have a real response.

I thought to use another country than US like Seychell for example but seems this makes more difficult to have an EMI account. Am I wrong?

I've prepared to lauch the following 2 e-commerce business before the recent problems in Lebanon :
- one that provides IT solutions for companies and individuals, clients will be mainly in Lebanon.
- another that buys gifts around the world. Clients will mainly be in Europ and middle east.

Thanks for your help

 

[Gediminas]

Indeed, this is my case : US LLC + Lebanese Passport + Lebanese Residency + EMI
My feeling this will not be easy. I am going to contact several EMIs asking if my case will be acceptable for them. Hope I'll be able to have a real response.

I thought to use another country than US like Seychell for example but seems this makes more difficult to have an EMI account. Am I wrong?

I've prepared to lauch the following 2 e-commerce business before the recent problems in Lebanon :
- one that provides IT solutions for companies and individuals, clients will be mainly in Lebanon.
- another that buys gifts around the world. Clients will mainly be in Europ and middle east.

Thanks for your help

Let us know how did it go!

 

[Martin Everson]

I thought to use another country than US like Seychell for example but seems this makes more difficult to have an EMI account. Am I wrong?

No your not.

What you need to do is find an EMI that will firstly accept you for a personal account before discussing any business account.

You may also want to speak to merchant providers that have a specialist focus on emerging market clients such as dlocal.com.

Let us know how you get on anyway.

 

[FRANCO]

Normally personal account is more difficult to create than a business one, isn't it?
I am going to contact dlocal, thanks.
I've already send questions to several EMIs and waiting for answers. We'll keep you posted.

 

[Martin Everson]

Normally personal account is more difficult to create than a business one, isn't it?

Huh? Not heard that one before. You need to provide a lot more info to open a business account than personal.

 

[FRANCO]

Hi,
For your information, I contacted several EMIs. Only somesones replied to my email. Here they are :
N26 : Does not accept lebanese passports
monese : must live in europ
mollie : must live in europ
ecomm : Does not accept lebanese passports
misterTango : accept lebanese passport but only for SEPA transfers, not debit cards.

The only one that seems it is OK for it is transferwise.
There is payoneer too, I did not get reponse but I could select Lebanon as nationality and country of residence. Howver, I am not sure if Payoneer is really EMI like transferwise or something else, is it?

The following ones did not answer :
PERVESK
Ajman city
advcash
paysera
dlocal
payoma
pockit

don't hesitate if you have suggestions
Regards