Seychelles/Belize company...where bank account??

Anabasi said:

Dear Mrau,
we can spend time in semantics but we risk to lose the perspective.
But as long as you like it, I would adhere your standard.
In my initial post, I wrote that a company, a client of a NC based bank, offshore bank, branch of a Turkish bank, as you prefere, you receive your set of instructions (btw, even from thos mentioned) in order to send/receive wire transfer through SEPA and with your IBAN.
Di per se....the wording doesn't clrearly refer neither explicitly nor implicitly to declare NC banking system "EU/SEPA compliant".
And it couldn't be different since we're talking about NC like it is a sovereign country while it's just a piece of an island that somebody, Turkey, believed it was belonging to them for some reason and decided to invade without, so far, further international recognition.
What sort of SEPA, EU, UN compliancy are you looking for?
The fact that really matters if you look at this "so called jurisdiction" from a perspective client vision, is only related with the possibility you will have to send/receive wires through a fully SEPA compliant mechanism and with an IBAN routing that will bring money either out of into your account.
BTW......with the client's name!
You might like it or not, you might consider it not ethic if we do assume that the only insitution that recognized the NC banking system is the Islamic Financial Service Board in Malaysia.
But the fact is....yes, as a client...I use IBAN and SEPA system to send/receive wires with both personal and corporate accnts.
Like thousands of others perform on a reguarly basis.
All the rest....just semantics.

Click to expand...

Hello Anabasi,
First off, many thanks for your comprehensive response but I beg to disagree. I don't want to discuss semantics but facts. Neither Turkey nor NC are part of SEPA, let alone regulated by the ECB, so cannot have anything to do with SEPA. I don't know which bank you are using in NC but it seems impossible they provide SEPA payments unless they are running such operations from another banking institution in Europe (not just a correspondent bank in Europe, but originating the payment itself from there). If this is the case, you found a rare treasury which merges the privacy of a non AEOI/CRS country and the operability of an european one.
An IBAN account number does not entail having a SEPA compliant account. There are some countries which impemented IBAN (Turkey is one) but are outright outside SEPA and the EU banking system.
From the information posted in their website, these two banks you mentioned before (Iktisat and Creditw3st) don't even seem to be able to send/receive SWIFT transfers by their own (just like other banks with correspondent account) but the wire apparently must be received by a Turkish bank (under the NC bank account name) and then credited to the final NC bank customer using the details that must be included in an anciliary field of the MT103 message. That's what it's infered from the instructions in their site, I might be wrong there but I cannot tell as I'm not their customer.
I don't mean to say your claims are not true just that, at least, those are not 100% accurate. Again, If you found a bank in NC which provides a unique IBAN under the customer name and processes SEPA payments through it (from a bank in Europe) and direct SWIFT payments, I truly congratulate you.