Looking for suggestions on register agents

[Abraham17]

Hello everyone,

I'm looking for recommendations for service providers or register agents who offer a complete package for setting up an LLC along with a banking solution.

Back in 2021, I purchased a package from Incfile, but I was very disappointed. Almost every bank rejected my application, and I only managed to open an account with Wise, which, unfortunately, never provided me with a debit card.

Since then, I have contacted several other providers like LegalZoom, StartGlobal, Privatly, StartFleet, and Bancoli. However, none of them could guarantee 100% that a bank account would be successfully opened alongside the company setup. They only promised guidance, but their responses remain vague and not very reassuring.

If you have had positive experiences or know of reliable agents who offer a real package that includes a successful bank account opening, I would greatly appreciate your suggestions.

Note: I am aware of some listings on the forum that charge several thousand dollars, but for now, that is a bit beyond my budget.

Thank you in advance for your feedback and advice!

 

[Sols]

No corporate service provider can guarantee you a bank account. That service does not exist. At most you have some CSPs offering a full or partial refund if an account application is denied.

The final decision is always up to the bank.

Sometimes you gotta spend money to make money. And not every dollar spent has a positive ROI.

The fact that you managed to open and keep open a Wise account tells me your business is probably sufficiently clean and low-risk that other banks/EMIs would accept your business.

 

[Forester]

I agree with @Sols completely.
Just adding that
– a success with an account opening depends so essentially on your business, residence and citizenship of UBO(s) & director(s) that it is simply impossible to guarantee it for any client;
– TBMK, Bancoli offers EMI account service by itself; if they are willing to onboard you as a client (this is not guaranteed, they do not work for everyone), you will have an account;
– I confirm that I know the reliable agent (not willing to be advertised publicly, they usually do not accept just-walk-in clients) who is able to manage an incorporation including a (brick and mortar) bank account for you but a) again, they do not work for everyone b) they would charge you for several thousand dollars, as you have already found – simply said, everything has its price...
Just as a side-note: I would not rely very much on the success with Wise as a benchmark; FMPOV, Wise is not well predictable.

 

[bountymounty]

Where do you live, what country are you from ? how is the company setup ?

 

[Abraham17]

Thank you for your responses.

It is clear that the final decision regarding the opening of an account always lies with the bank and not the service provider. That said, my business is simple and transparent: I work in the field of web marketing. However, my main challenge is that my country, Madagascar, does not offer a payment processor capable of handling foreign currencies. This forces me to establish a company abroad, a process that is entirely legal and free of any ambiguity.

I also agree with your opinion about Wise: it is an unreliable platform. The fact that they no longer provide physical debit cards is simply incomprehensible and problematic for those who rely on them to manage their business.

 

[Abraham17]

Where do you live, what country are you from ? how is the company setup ?

I live in Madagascar, and I'm originally from this country, so I'm Malagasy. As for my LLC, I'm the sole member and owner.

 

[Forester]

I live in Madagascar, and I'm originally from this country, so I'm Malagasy. As for my LLC, I'm the sole member and owner.

In such a case, have you considered e.g. establishing a company in Hong Kong or Singapore? Consequently, HK and SG EMIs will be more open to you, I guess.
US LLC with Madagascar citizen and resident as a sole owner (in addition in a web marketing business, which represents a consulting, actually) is really a setup that need not be perceived well by corresponding insitutions, unfortunately (although it is nothing wrong)...

P.S. Not so long ago, e.g. Statrys really offered company setup (HK, SG) and an EMI account in one package. Worth checking.

 

[bizman]

I also agree with your opinion about Wise: it is an unreliable platform. The fact that they no longer provide physical debit cards is simply incomprehensible and problematic for those who rely on them to manage their business.

since when they stopped with this? I have a physical debit card, actually 5 of them.

 

[Abraham17]

In such a case, have you considered e.g. establishing a company in Hong Kong or Singapore? Consequently, HK and SG EMIs will be more open to you, I guess.
US LLC with Madagascar citizen and resident as a sole owner (in addition in a web marketing business, which represents a consulting, actually) is really a setup that need not be perceived well by corresponding insitutions, unfortunately (although it is nothing wrong)...

P.S. Not so long ago, e.g. Statrys really offered company setup (HK, SG) and an EMI account in one package. Worth checking.

Thank you for the suggestion. There was a time when LLCs and LLPs were almost the only options for African entrepreneurs wishing to sell their services or goods abroad. At first, I was really interested in payment processors, but I have tried everything since 2020! Four years during which I explored many options, and I stumbled upon this forum, but it felt like a real obstacle course. Developing countries are still struggling to see the light at the end of the tunnel. And that can be understood; there is really a legal void surrounding all of this.

 

[Abraham17]

since when they stopped with this? I have a physical debit card, actually 5 of them.

They stopped this year, I suppose. And it's not going to change anytime soon

 

[Forester]

Thank you for the suggestion. There was a time when LLCs and LLPs were almost the only options for African entrepreneurs wishing to sell their services or goods abroad. At first, I was really interested in payment processors, but I have tried everything since 2020! Four years during which I explored many options, and I stumbled upon this forum, but it felt like a real obstacle course. Developing countries are still struggling to see the light at the end of the tunnel. And that can be understood; there is really a legal void surrounding all of this.

With this additional explanation, I, hopefully, understand your situation even better and my sympathies are with you.
Times are changing; and in many cases not in a good direction.

Perhaps one additional idea: What about a Mauritius AC (authorized company)? There is a regional proximity, hence nothing suspicious; and banking at Mauritius is decent. You could even find an introducer here around, if necessary.

 

[bountymounty]

Perhaps one additional idea: What about a Mauritius AC (authorized company)? There is a regional proximity, hence nothing suspicious; and banking at Mauritius is decent. You could even find an introducer here around, if necessary.

Can a Mauritius AC be used for usual business and why it requires and introducer ?

 

[Forester]

Can a Mauritius AC be used for usual business

For sure, see here https://mauritiusifc.mu/index.php/structuring/authorised-companies

and why it requires and introducer ?

It does not, it's a misunderstandig. I had in mind an introducer to a Mauritian bank (e.g. @CyprusLawyer101 is able to help, IIRC).