Hi all,
Long time lurker, very much appreciate the great advice on this platform!
I have a nearly 5 year old Gibraltar LTD company, and we are banking with Wise and Revolut. We provide environmental consulting services across Africa and Central Asia, with some clients based out of Western countries and others in Africa / Central Asia. We also have registered companies in one country in West Africa and one in Central Asia (don't want to give the exact location for each but they are generally considered good jurisdictions). Those companies do business only for clients in the respective country. Otherwise, the main benefit of the Gibraltar entity is that we are not double taxed given the 0% tax rate, as often withholding taxes apply.
However, I am noticing that we are finding it harder to receive money on Wise and Revolut from clients in certain jurisdictions, such as Nigeria and DRC. Again, these are all above board and comprise major companies and financial institutions, and it is not clear why receiving payment from them triggers a blocked payment (and once a threat by Wise to close our account!).
Has anyone got any advice on how we can get a different bank account which would address the above issue? In terms of EMIs, we have approached a few, such as Dukascopy, Paysera and a couple of others with no success (basically rejected with no reason). We haven't approached any traditional bank yet.
Any recommendations for a bank or EMI with reasonable (hah!) fees would be very much appreciated.
Long time lurker, very much appreciate the great advice on this platform!
I have a nearly 5 year old Gibraltar LTD company, and we are banking with Wise and Revolut. We provide environmental consulting services across Africa and Central Asia, with some clients based out of Western countries and others in Africa / Central Asia. We also have registered companies in one country in West Africa and one in Central Asia (don't want to give the exact location for each but they are generally considered good jurisdictions). Those companies do business only for clients in the respective country. Otherwise, the main benefit of the Gibraltar entity is that we are not double taxed given the 0% tax rate, as often withholding taxes apply.
However, I am noticing that we are finding it harder to receive money on Wise and Revolut from clients in certain jurisdictions, such as Nigeria and DRC. Again, these are all above board and comprise major companies and financial institutions, and it is not clear why receiving payment from them triggers a blocked payment (and once a threat by Wise to close our account!).
Has anyone got any advice on how we can get a different bank account which would address the above issue? In terms of EMIs, we have approached a few, such as Dukascopy, Paysera and a couple of others with no success (basically rejected with no reason). We haven't approached any traditional bank yet.
Any recommendations for a bank or EMI with reasonable (hah!) fees would be very much appreciated.