Recent content by speedster

How sure are you? I've transferred Eur1.9m to Kraken and Bitstamp the last three months

N26 is also an option and can be opened remotely

Perhaps they get more attention because they are a genuine bank, not an EMI? Also that article is more than a year old and as it says In N26 case they weren't even fined, they were simply asked to improve their systems.

I've been using them daily for the last 3 months with no issues. Why wouldn't they be trusted?

Nobody suggested applying as a client from the street - I just asked which bank / emi you use. If the offering is worth the while, and your services are beneficial, then it will draw clients. Secrecy / underhandedness / profiteering drives people away.

I'm a member of a bunch of forums on the internet. This is seriously the only one where anyone would even consider posting this. Everywhere else the guys help one another out where they can, here it feels like it's some rolling billboard with people trying to recruit clients.

With which bank / emi is this?

Wouldn't those all require some form of local bank account in your name to pay out to? If you had that available then you could just transfer the funds to that account and withdraw upon arrival. The challenge here is flying to a country where you don't have a bank account

How would you go about extracting the funds though? You'd need some crypto to fiat gateway

Indeed, but it is different to a bank run. In a bank run there aren't enough available funds to repay the deposits as the funds have been lent out. With an EMI it's different - everyone can withdraw their deposits and the EMI can rebuild their business with the few clients they have left / new...

Although I do agree that most would withdraw their deposits, you can't have a "bank" run on something that isn't a bank. Since an emi doesn't use deposits as reserve for loans, mass withdrawal shouldn't be a problem.

TransferWise don't do Hong Kong companies

I had some inputs about the TransferWise options but I see my post was deleted.

Hk doesn't tax foreign sourced income though, this should also be factored in.

Unfortunately my knowledge of UK tax is dangerous. You're probably best off having a sit down with a tax specialist in the UK. Hopefully someone on the forum can drop a few good tips for you though!