Balance : Bank professionalism vs Heavy Procedure

[laurie]

Hi mates,

When choosing a bank it's always about balance. The trust you put in them, the privacy of the bank and jurisdiction, the convenience (language, location, timezone, international network...) or your capacity to comply with their requirements...

He comes my issue, I moved to Australia and I have no banking references or professional references.
In Europe, I had internet banking and closed my accounts. All together, it's quite fucked to get descent reference letter. To make it even better, I can't travel at all as I'm on a bridging visa...

I would like to incorporate in a low tax jurisdiction, to reinvoice as follow
UK and EU -> LOW TAX JURISDICTION -> AUSTRALIA
Obviously the money would go the other way
UK and EU <- LOW TAX JURISDICTION <- AUSTRALIA

Every invoice would be between 100k and 500k money would get in and 60% of it would get out. Would you have any idea of bank that would open a bank account remotely with light documentation ? I don't mind if the bank is in Europe or Caribbean area, tho it's fucking far .

Cheers

 

[Milky Moon]

You can open a WestPac account on a tourist visa. No real issue opening accounts in AU. (search: Westpac Choice – for migrants)

 

[laurie]

Hey mate,

I got banking in the big 4 . What I need is offshore solution with light requirement as my banking history is very limited, I won't have recommendation letter.

Cheers

 

[Milky Moon]

breder suasso to the rescue?

 

[laurie]

Thank you so much for the tips. I would really consider it, 'tho information exchange and overal cooperation between AU and NZ. Makesme think it could be a bad idea.

Would they pose problem, with these large amount ? Do you know if they have office in AU if physical interview needed. Because my bridging visa don't allow me to go to NZ.

I would welcome another solution but in the meantime I will read the documentation available.

 

[Milky Moon]

Breder is offshore only, they use a light touch NZ approach, but you get a PL (polish) IBAN. If you can provide invoices and contracts they will allow serialized 100K transactions without to much hassle. I have no experience with higher transactions.

(these were all legit transactions where only the taxman potentially was harmed )

 

[mnschwarz]

Hi mates,

When choosing a bank it's always about balance. The trust you put in them, the privacy of the bank and jurisdiction, the convenience (language, location, timezone, international network...) or your capacity to comply with their requirements...

He comes my issue, I moved to Australia and I have no banking references or professional references.
In Europe, I had internet banking and closed my accounts. All together, it's quite fucked to get descent reference letter. To make it even better, I can't travel at all as I'm on a bridging visa...

I would like to incorporate in a low tax jurisdiction, to reinvoice as follow
UK and EU -> LOW TAX JURISDICTION -> AUSTRALIA
Obviously the money would go the other way
UK and EU <- LOW TAX JURISDICTION <- AUSTRALIA

Every invoice would be between 100k and 500k money would get in and 60% of it would get out. Would you have any idea of bank that would open a bank account remotely with light documentation ? I don't mind if the bank is in Europe or Caribbean area, tho it's fucking far .

Cheers

Not sure if I understand this correctly. You want to re-invoice through a low tax jurisdiction... and then pay out to Australia (or UK; both high tax jurisdictions)?

Aus is not big on bank reference letters. I've never needed one (though you often want residency, at least temporary).

 

[laurie]

I got banking in Australia as I just set-up there I have no reference from my bank or professional relations.
I want to open offshore-bank account but I'm not sure I would easily pass KYC procedures if I miss these documents. I would be looking for people who know banks which have let'a say... light KYC requirements.

 

[mnschwarz]

I got banking in Australia as I just set-up there I have no reference from my bank or professional relations.
I want to open offshore-bank account but I'm not sure I would easily pass KYC procedures if I miss these documents. I would be looking for people who know banks which have let'a say... light KYC requirements.

Talk to your agent about recommended banks when you incorporate. They usually handle a lot of the account opening hassle for a small fee.