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SWISSMONEY Iban Accounts with Sepa

Leupay for Belize Offshore as CY non-dom

Maria Cobretti

Maria Cobretti

New member
Apr 26, 2018
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#1
Hey guys,

since Leupay asks for you tax number during account creation I was wondering is it is a good idea to use it for my Belize offshore.

Especially since Mistertango updated their pricing modell to fu**ing expesive many people recommend Leupay.

What would happen if I put in my CY Tax ID? As far as I understand they report transactions as well as the end of the year turnover (or balance?) which can't be wise when you try to avoid taxes with an offshore company.

Any way to avoid this?

I also have an EPB account but actually never used it and since they do not do Crypto they are not really an alternative. I am currently looking into Advcash for this reason.

Thanks in advance!
 
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#4
They do ask for the company. Well they now have pretty much the same KYC as many other banks.
Also they want to know company owner, ownership structure (shares %), beneficial owner, residential address, tax residence of the director, plus the same for the person opening the account if it's not the director, if company is active etc
basically they're asking, line by line, what's required by the CRS handbook...
 
#5
just to remember everyone:
As a fully certified e-money institution, we follow strict regulations. We are requered to disclose LeuPay accounts data, under the applicable laws on exchange of information, such as the Foreign Account Tax Compliance Act (FATCA) or Common Reporting Standard (CRS).

Detailed information is noted in the User Agreement for LeuPay Services and the Legal Agreement for LeuPay Account on our website, which you've accepted during the registration process.

Kind regards,
LeuPay team
Click to expand...
 
#12
I doubt they will be able to check the tax ID. In worst case (and I doubt again this happen) they will find out about the wrong CY tax number after a year or two and only because some tax auth may report back, which I doubt they ever will do unless we speak millions in tax payment.
 
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#14
David97255 said:
Honestly I know that they check, but let's go with the flow with you and say they don't.
Click to expand...
No need for that, then let me ask you(don't take it as an attack) what do you know that they check? If the tax number is valid? That they report your statement's to the local tax auth. ? or something else?
 
#15
It s not a personal attack, I m here to share my experience and help .
I don't know if they report it to tax authorities and it s less my worry.
In a simple click you check tax number, if it s not valid anymore you will find yourself with a blocked account until you fix it.
1. Sometimes you cannot fix it.
2. Yes it sounds weird. But Leupay act like tax authorities.
3. I don't want to argue if I m right or not, said it to not see anymore thread in this forum with "leupay blocked account" anymore
 
#16
My understanding is that for business accounts, the business is the account holder.. Not the owner.
If the business is active, then LeuPay will report it's activity to the authority where business is domiciled.
Only if the business us passive will the information be sent to the owners country if residence authorities.
 
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