What EMI to use for Cyprus company or better use real bank?

[diro]

Wise is not opening accounts for Cyprus company, what other EMI do open account for a Cyprus company?

What EMI is there for a Caribbean company if any?

Is it possible to open an account with Hellenic or Bank of Cyprus bank for me not living in Cyprus but company only there?

 

[avalanche]

Last time I had Cyprus company, my corporate agent introduced me to Bank of Cyprus. Although Bank of Cyprus had pretty high fees for non-resident services, approximately 600-800 EUR/year, it was working pretty great for me.

Never needed to get any EMI

 

[JohnLocke]

Last time I had Cyprus company, my corporate agent introduced me to Bank of Cyprus.

When was the last time ? I heard from others BoC refuse to open foreign owned business bank accounts, but I have no evidence for it so far!

 

[avalanche]

When was the last time ? I heard from others BoC refuse to open foreign owned business bank accounts, but I have no evidence for it so far!

Approx 4 years ago. Had no residency in EU whatsoever. But a year ago they asked for EU residency and closed an account.

 

[JohnLocke]

Approx 4 years ago. Had no residency in EU whatsoever. But a year ago they asked for EU residency and closed an account.

okay, thank you, so it may be true they won't open accounts now unless you have substance or are good connected in the banking network.

 

[Forester]

From my personal experience, I can say that Bank of Cyprus sucked even ~3 years ago: fees not much friendly and monkeys there trained under the usual average

Can't say anything particular about Hellenic, though.

Just generally, if you do not need loan, cheques, safe box etc., then a reasonable EMI is a better option that a Cypriot bank, IMO. To name a few different but worth attention – e.g. Currenxie, Zen, Verifo, Wamo, Interpolitan Money, Ecommbx, ... Intergiro was a very good bet but they have waiting list now and it is not well manageable.

Re: EMI for your Caribbean company – where in the Caribbean is your company incorporated?

 

[Doji]

Revolut Business works fine

 

[JimBeam]

BoCc was fine when we used them but were quite pricy: €50/month maintenance plus a bunch of other fees and if they had to re-do KYC they would charge us that €600-700 extra (and f**k us with requesting a bunch of documents). But online banking, mobile banking and even phone banking worked pretty good, can't complain.