EU bank for Nevis company

[baysurfer123456]

Hi there,

I am an EU resident, who has a registered, 3 year old Nevis company with a nominee director.
The bank we are currently using is a small EU bank, which was recently busted by the government and so the bank will shut down in the near future.
They require all customers (including us) to wire all money on the current account to an other bank account which is also held under the same company name.

Can you please recommend a bank (preferably a SEPA member) where I could open a bank account for the company? I am looking for reasonably quick solution.

Thank you for your help!

 

[John Andrews]

I know it's not a bank, but have you tried TransferWise, at least as a temporary solution? They accept St. Kitts & Nevis companies

 

[JohnLocke]

Which EU bank has accepted a Nevis corps? I'm curious to learn more about them.

 

[DGTLOTC]

TransferWise will be your best option,most places are closed to opening accounts for that type of company or if they do the % flow fee will be high

TransferWise should be the first port of call - let us all know how you get on

 

[Gediminas]

Hi there,

I am an EU resident, who has a registered, 3 year old Nevis company with a nominee director.
The bank we are currently using is a small EU bank, which was recently busted by the government and so the bank will shut down in the near future.
They require all customers (including us) to wire all money on the current account to an other bank account which is also held under the same company name.

Can you please recommend a bank (preferably a SEPA member) where I could open a bank account for the company? I am looking for reasonably quick solution.

Thank you for your help!

If EMI (SEPA member, as you say) is an option for you, I can help with that. Having your company located in Nevis won't be a game stopper.

 

[baysurfer123456]

Which EU bank has accepted a Nevis corps? I'm curious to learn more about them.

Technically it was a payment service provider not a bank, but I could send and receive SEPA payments with them.
I can pm you the name of the institution, but they are not accepting new clients...

 

[baysurfer123456]

I know it's not a bank, but have you tried TransferWise, at least as a temporary solution? They accept St. Kitts & Nevis companies

Thanks, I didn't know that TW can give you your own banking numbers but turns out they can.
I already had a verified business account with TW, so I will definitely ask the other bank if they accept it. I will keep you updated!
Will it cause any trouble if I receive a larger amount of money on TW?

Thanks again!

 

[John Andrews]

you can have multiple business accounts with transferwise

Will it cause any trouble if I receive a larger amount of money on TW?

no idea, depends if it triggers their AML checks

 

[baysurfer123456]

If EMI (SEPA member, as you say) is an option for you, I can help with that. Having your company located in Nevis won't be a game stopper.

Sounds great! Can you please PM me with some detailed infos?

 

[unicorn]

If EMI (SEPA member, as you say) is an option for you, I can help with that. Having your company located in Nevis won't be a game stopper.

can you tell us more please ? all suggestions welcome.

 

[Gediminas]

can you tell us more please ? all suggestions welcome.

One of the options would be Verifo - they are reliable. If you need any assistance with onboarding, let me know.

 

[unicorn]

thank you for sharing gediminas !

they are funny : "complex entity fee" 500 euro

but they are also smart : if banks close down offshore accounts, there are thousands of people looking for an alternative.

not all have illegitimate businesses.

would you happen to know if they consider nevis lcc foundations as "complex entity" ?

could you actually use this as a "normal" bank account you think ?

or would you need a "classic" bank account next to that ?

 

[Spinat]

Technically it was a payment service provider not a bank, but I could send and receive SEPA payments with them.
I can pm you the name of the institution, but they are not accepting new clients...

So it is worthless to post about it. There is no solution for Nevis corps then?

 

[Gediminas]

thank you for sharing gediminas !

they are funny : "complex entity fee" 500 euro

but they are also smart : if banks close down offshore accounts, there are thousands of people looking for an alternative.

not all have illegitimate businesses.

would you happen to know if they consider nevis lcc foundations as "complex entity" ?

could you actually use this as a "normal" bank account you think ?

or would you need a "classic" bank account next to that ?

I suppose you should ask them those questions directly. Or send me an email if you need my assistance.

 

[unicorn]

Thank you Gediminas, I sent them an email and will let know the answer.

Which jurisdictions are your specialty please ?

 

[unicorn]

Verifo is SUPERFAST for sure : i had a reply to my questions within 15 minutes :


1) Does Verifo offer bank accounts for a Nevis LLC foundation ? Yes

2) If so, which account would apply and what would be the set-up and annual costs ? Depending on other factors it looks like it would be Standard account fees that we would apply. Please find a full pricing list available which also lists prices for other currencies and global payments (Swift) in addition to SEPA.

3) If so, which documents would you need to open the account ? Please find the account opening form attached. It also lists the list of required documents. For any personal documents, we are happy to send you links to complete remote identification.

4) If so, could EU clients make direct payments into the account if they should not be able to use paypal ? Yes, we would be able to accept client payments from both Euro zone area, as well as globally.

5) If so, is it possible to link a paypal account to a verifo account ? From a short research it seems that you can transfer funds from PayPal to Verifo IBAN with ease: Transfer money from PayPal to your Bank Account - PayPal.



Gediminas, would you by any chance know if linking of paypal to Verifo is possible for sure please ?

 

[John Andrews]

Wait, is it a Nevis LLC or a Nevis Multiform Foundation?

 

[Gediminas]

Gediminas, would you by any chance know if linking of paypal to Verifo is possible for sure please ?

I don't know for sure, haven't tried myself, but I guess you should be fine.

 

[unicorn]

a nevis llc must pay tax now. a nevis llc multiform foundation pays 0 tax. you can transform an LLC into a multiform foundation and still operate as a company and make profit - as long as you respect the purpose of the foundation. if that foundation is for you, you make a broad purpose that encompasses all purposes related to you.

i asked info for a foundation. if they accept a foundation, they will surely accept a LLC as no one wants to accept foundations. you just can not make it a non for profit foundation, those will not get an account anywhere.

 

[Gediminas]

a nevis llc must pay tax now. a nevis llc multiform foundation pays 0 tax. you can transform an LLC into a multiform foundation and still operate as a company and make profit - as long as you respect the purpose of the foundation. if that foundation is for you, you make a broad purpose that encompasses all purposes related to you.

i asked info for a foundation. if they accept a foundation, they will surely accept a LLC as no one wants to accept foundations. you just can not make it a non for profit foundation, those will not get an account anywhere.

I could onboard you to a bank that accepts foundations.