Unregulated forex Business Structure, Bank Account & PSPs Assistance

[Davis123]

Can confirm this as well as currently switching all the people from Cyprus to UAE.

Actually I want to say I was personally very close to opening up an account in a Cyprus Babi from UAE. . Got the application printed and sat on it for 6 months. Just when I decided to send it in read all over the news how Cyprus ripped off everyone. ;(

 

[UKCitizen]

Hi, we offer some services for unregulated forex. Might be worth a chat?

Hi, I am interested in hearing about that, i know the people who could be potential customers.

 

[equityone]

1. 3 - Any legit crypto exchange that we can send crypto and exchange to fiat and withdraw to our bank account of SVG company?

Let’s all not pretend what unlicensed forex brokers really stand for, regardless of the ubo’s nationality...

You can always try to use OTC desks if the volume would be anything significant, or you can swap crypto-fiat & vice versa or even crypto- gold/silver by using a third party “exchange” in Switzerland with just basic kyc/kyb and final bank coordinates, obviously with a discount and service fee.

 

[amarfx]

Slovak republic
Czech republic

Czech need 350k as capital adequacy requirements for EMIs? isn't. we can't just register a company and set them as payment agent for SVG offshore? right?

 

[Marios]

For your SVG there is solution with an actual bank with dedicated Client account in 3 major currencies. Direct account no need for a payment agent

 

[amarfx]

For your SVG there is solution with an actual bank with dedicated Client account in 3 major currencies. Direct account no need for a payment agent

Is this solution comes from offshore bank ? the problem is not setting a payment agent , which is of course easier always to get virtual banking solutions and merchant solutions, even if have direct banking brokers need PSP solutions to accept payments fromt their clients isn't

 

[Marios]

Yes indeed the solution is via an offshore bank. No European financial institution could open and operate such an account. Also the chances even to open bank account in Europe for an EU payment agent servicing an SVG are thin as SVGs are in reality not licensed. Yet there are still few solutions, only for SEPA but to high risk EMIs. The specific offshore bank is a better option in my opinion and tested several times

 

[Abuelesomor]

Hi, we offer some services for unregulated forex. Might be worth a chat?

Please reach out to me if possible

 

[Abuelesomor]

Bank of Cyprus will not see any problems of incoming transfer from SVG company if it is for use or software, not a comission for unregulated financial services.

If you need SEPA and SWIFT bank accounts, not EMI accounts, you have to talk to european banks.

The best way to have account is not to have a bank account of SVG company, but use so called payment agent. It will be a company which will be fully owned by SVG company and will handle payments as so called payment agent.

There are 2 countries, where a payment agent company does not need a financial license, if this company provides services just for other company which has to be a full owner of payment agent.
Banks are willing to open bank accounts for this payment agent companies. So, you will have a structure, where SVG company will be a 100 % owner of other european company and this european company will have a bank accounts in more banks and will handle apop incoming and outgoing payment in a name of SVG company on its bank accounts.

There is no way how you can have SEPA + SWIFT bank account for unregulated company from SVG in any reasonable bank. You have o use this bypass.

Answers to your questions:

1. Is there anything we could do so we can find more banks and PSPs?
No for SVG company. But you can create your own payment agent company and it can be much easier to have a bank account for this company.

2. Is there anything we could do with the Cyprus companies that could help us somehow? any restructuring or something?
No. Not needed.

3. Any legit crypto exchange that we can send crypto and exchange to fiat and withdraw to our bank account of SVG company?
No. But if you will have a payment agent company, banks will gladly accept incoming payments from Kraken and AdvCash.

4. Will we need the bank to be crypto-friendly if we want to transfer fiat from the crypto exchange?
No for FIAt to Crypto but yes for Crypto to Fiat.

I see, here are few members who are offering their services..
So just a short reaction on them: You do not need to be regulated if you are not doing a business with investors in EU nor USA, Canada.

Hello,

Do you know any company that might assist in registering a payment agent for our SVG company?