Possibility of bank account or EMI account

[Morrad]

Hi.

I am thinking about forming an offshore company in Belize.

I was wondering if anyone has any experience with this because I want to open one or more bank accounts connected to this company.

Can anyone tell me what the possibilities are of me being able to open an offshore bank account with a company based in Belize?

I have been reading that this might be difficult due to the location of the company.

What about EMI's such as Lunarway or Transferwise? Can these be used to open corporate bank accounts without any problems?

And how do they react if I try to open a corporate bank account with power of attorney from the Nominee Director?

Just wondering if anyone would share their experiences/thoughts

Have a nice day!

 

[Gediminas]

Hey,

Most important are activities of the business, source of income, and UBO. Jurisdiction will raise red flags, but that's not a game stopper.

You are only looking at some offshore banks and EMI's. I wouldn't recommend using mass-market EMI (such as Transferwise), because you will have headaches along the way. I would suggest business-oriented EMI's such as Bankera or Verifo.

In any case, when trying to apply with a company located in offshore islands, I would suggest doing it with the help of the introducer (like myself).

Hope that helps

 

[Morrad]

Hi, and thanks for your response!

I can see that Bankera doesn't have a good reputation on Trustpilot.
And it seems that no one has rated Verifo :/..

But why can Transferwise cause headaches?

I have heard about introducers in relation to this topic, but what is it a service you offer to help opening bank accounts ?

 

[Gediminas]

I can see that Bankera doesn't have a good reputation on Trustpilot.

Try reviewing any other global company there. If you are big - you will get bad reviews for one reason or the other. Even competitors can harm your reputation on Trustpilot. Don't judge the financial institution on Trustpilot.

But why can Transferwise cause headaches?

Because they are targeting retail customers. They don't have big compliance teams dedicated to business relations. You will have a generic relationship and if any problem appears, they will hold your money for long, while reviewing it.

but what is it a service you offer to help opening bank accounts?

Yep, I help people to give the full picture of the business to the EMI and I make sure they understand what it is about. Even if your business is legit, they could auto-reject it anyway, if you apply directly. I know teams of some EMI's and banks very well, and they know me too, so it's easier to communicate.

And I also stay a point of contact for your future relationship with the financial institution.

 

[Morrad]

Thanks for the reply!

I have seen some comments on this site saying that it is nearly impossible to open a bank account with a Belize LLC. Is this true?

 

[NicolasMaduro]

Thanks for the reply!

I have seen some comments on this site saying that it is nearly impossible to open a bank account with a Belize LLC. Is this true?

You can easily make a bank account for Belize with TransferWise, and probably some shitty banks in Belize if you are just a holding company.

However, why are you creating a Belize company? You do realize that you will not be anonymous, and everyone will know who you are trough UBO?

 

[Bandito]

You can only open a business account at Lunarway with a Danish corporation.
And the Danish corporation can't be owned by a foreign corporation.

 

[reesek]

Thanks for the reply!

I have seen some comments on this site saying that it is nearly impossible to open a bank account with a Belize LLC. Is this true?

okay, it was me posting that....
theoretically it IS possible, but the COSTS of doing it and operating it will outweigh the benefits this company offers.... do you have a clear understanding what do you need belize llc for?

PS taking out assets and dissolving the company is a possible goal

 

[nemesis]

Hi, I will explain my eperience with LEO PAY and NEAT. We´re lawyers and security consultors and from time to time like to know how EMI, new banks etc. work to recommend or not our clients.

- LEO PAY, using for 7 months. Easy to open account with a UK Ld company. Our company received litle amount smontly, about 2-4 invoices , for 1.000- 7.000 each one. The prepaid car was our option for paymentys (about 20,40 movements montly). After received a tranfer from DUBAI of a international gas company , and a good client fir us, about 140.000 USD, the refused the transfer without reason (we did due diligences including invoices, banking estatement, taxes paid etc..) and cancelled the bank account in 30 days. Fully dissapointed. The problem: dont know. may be 140.000 was so much for them? may be a payment from DUBAI? . Dont know. We lost a lot of time .

- NEAT. They offer a interesting package: Honk Kong limited + Bank account for 600 Eur. Ok, lets, try .... They favourite answer: be patient! We paid trough they web site, an they needed 4 months to locate the payment!!!!! after 1 more month they refused cause we´re a european company ..., after 1 month more they refunded the payment. A total nigtmare! for nothing !!

I´m not saying they are bad institutions, only we had bad experience.

On the other hand, actually some clients work without probem with TRANSFERWISE for european companies