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Transferwise Business Account - Belize Company - USD wire bank details
- Thread starter asterix
- Start date
There is no real solution with Transferwise and your country. You need either another bank/EMI or another country then.
Panama is an obvious one after Panama papers. I don't even think banks/EMI's are interested in people living in Panama let alone a company.
Martin, you sound very sarcastic and negative... Maybe try to suggest some solutions based on your knowledge and experience could turn this chat into something more constructive ?
I am because I live in the real world and I am a realist not a dreamer
.The OECD is eliminating tax havens unless you have been living under a rock for last 5 years. The entire Caribbean has been forced to change their laws. The US is also restricting access to USD outside US via heavy compliance, sanctions and a lot of banks have lost their USD correspondence accounts. Even Transferwise has tough restrictions over USD - have you not realized? Then someone asks for a solution for a tax haven company (Belize) and USD account
. What do you expect then answer to be?If your looking for miracles then go to church. This is 2019 not 2009.
That's the real truth. What do you propose to do with offshoring right now?I am because I live in the real world and I am a realist not a dreamer
The OECD is eliminating tax havens unless you have been living under a rock for last 5 years. The entire Caribbean has been forced to change their laws. The US is also restricting access to USD outside US via heavy compliance, sanctions and a lot of banks have lost their USD correspondence accounts. Even Transferwise has tough restrictions over USD - have you not realized? Then someone asks for a solution for a tax haven company (Belize) and USD account
If your looking for miracles then go to church. This is 2019 not 2009.
We have to all get creative. Offshoring will never relly die in the same way greed will never go away. We are just in period of transformation. Old offshore mentality and habits have to die and people need to embrace new methods and schemes and that include maybe crypto for the crypto fans out there
.What is killing offshore is access to traditional banking services. Offshore countries have noway of fighting back against being shut out of the international banking system and threats from OECD. Until there is a credible alternative to allow them to stand up against the constant threats, things will get worse before they get better. However I am optimistic a credible payment network/currency will emerge that can't be sanctioned, blacklisted or blocked and that is stable and universally accepted (so not bitcoin).
That's the idea. You can pretty much pay only 5% corporate tax in EU or 0% (deferred corporate tax) already. The only stumbling block is passing a "substance test" of the host country where the company is based. This means most one man show companies need to set up bricks and mortar operations to benefit from such rates so your looking at 5-20k annually in fees.
Just an update: I created a Seychelles company and did get a USD business account with Transferwise.
For the Seychelles company I used Fidelity Corporate Services Seychelles offshore company formations
And for the Transferwise business account, I did it myself.
The USD account you got is it a local US account? i.e you can only receive money from US and send money to US but cant send to a US account outside the US because of lack of ABA code?
Even though I don't use USD I did look and found the TW USD ability is limited and basically useless unless you do business in US.
It's said "You can only get USD borderless account details if your address is listed in the countries and territories below. "
It's for personal ? Not for business a/c ?
The answer is slightly confused.
Is the service provider really Fidelity at boston, ma, or just some firm use the big name ?
