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Which EMI or Bank for Legitimate Offshore Company ?

rowena

rowena

Pro Member
Nov 28, 2017
621
504
63
#1
Hello,
I have UAE residency(0% income tax) and I opened RAK ICC offshore company at last week but unfortunately opening a bank account for my offshore company with UAE banks is very very hard because of that I am looking for a solution.

- My business and company are 100% legitimate - no darks and nothing to hide.
- I am working with Apple Inc and they are sending me monthly payments(almost they cover all of).
- I need IBAN / USD or EUR.
- I have monthly $100k turnover.

I am working with Payoneer right now but they are very expensive. I am paying 1.4% fee. I found those solutions. Which one is best for me ?

- Transferwise
- Worldcore
- Leupay

- Breder Suasso
- Europacific bank

Thanks !
 
  • Like
Reactions: hiju and JohnLocke
#3
rowena said:
Hello,
I have UAE residency(0% income tax) and I opened RAK ICC offshore company at last week but unfortunately opening a bank account for my offshore company with UAE banks is very very hard because of that I am looking for a solution.

- My business and company are 100% legitimate - no darks and nothing to hide.
- I am working with Apple Inc and they are sending me monthly payments(almost they cover all of).
- I need IBAN / USD or EUR.
- I have monthly $100k turnover.

I am working with Payoneer right now but they are very expensive. I am paying 1.4% fee. I found those solutions. Which one is best for me ?

- Transferwise
- Worldcore
- Leupay

- Breder Suasso
- Europacific bank

Thanks !
Click to expand...
hello , i use both leupay and transferwise, TW have best customer care and fees, worldcore, from Czeck republik is very expensive and have a lot of problems with partner bank, like Reitimu
 
#4
I have a UAE based IBC which is legit and I use LeuPay.
It has been great, but as my business is growing I am concerned about storing reasonably large amounts in my LeuPay account. To be clear, they haven't heard in me any reason to be concerned, I just don't like keeping lots of money in e banks.
Ideally I could find a European bank which will allow me to deposit funds I to a business account.
 
#5
ALFRED MAYER said:
hello , i use both leupay and transferwise, TW have best customer care and fees, worldcore, from Czeck republik is very expensive and have a lot of problems with partner bank, like Reitimu
Click to expand...
Yes, I think same for TW. Which type company do you have ? Are you using TW for exchange purposes or like bank ?

K12AN said:
I have a UAE based IBC which is legit and I use LeuPay.
It has been great, but as my business is growing I am concerned about storing reasonably large amounts in my LeuPay account. To be clear, they haven't heard in me any reason to be concerned, I just don't like keeping lots of money in e banks.
Ideally I could find a European bank which will allow me to deposit funds I to a business account.
Click to expand...
Which jurisdiction are you using ? Leupay is good alternative but also I am not confortable with Leupay for big amounts. I applied for Emirates NBD and FAB.
 
#6
K12AN said:
I have a UAE based IBC which is legit and I use LeuPay.
It has been great, but as my business is growing I am concerned about storing reasonably large amounts in my LeuPay account. To be clear, they haven't heard in me any reason to be concerned, I just don't like keeping lots of money in e banks.
Ideally I could find a European bank which will allow me to deposit funds I to a business account.
Click to expand...
Have you looked into Mister T. Revolut and similar, there is even a list here on the forum with lots of suggestions, not sure which fits in to support your UAE corp. but there may be some.
 
#7
rowena said:
Hello,
I have UAE residency(0% income tax) and I opened RAK ICC offshore company at last week but unfortunately opening a bank account for my offshore company with UAE banks is very very hard because of that I am looking for a solution.

- My business and company are 100% legitimate - no darks and nothing to hide.
- I am working with Apple Inc and they are sending me monthly payments(almost they cover all of).
- I need IBAN / USD or EUR.
- I have monthly $100k turnover.

I am working with Payoneer right now but they are very expensive. I am paying 1.4% fee. I found those solutions. Which one is best for me ?

- Transferwise
- Worldcore
- Leupay

- Breder Suasso
- Europacific bank

Thanks !
Click to expand...

From your list, LeuPay and Transferwise as well as Europacific Bank seems to be the most common "banks" to use.
 
#8
Correct...Revolut does not currently support UAE.
I use LeuPay and am opening a TransferWise account (no debit cards for UAE).
TransferWise (In my opinion) is a safe place to hold funds as it's regulated by the FCA as well as EU. I'll use this like a savings account and then transfer money to my LeuPay for business spending needs.
 
#9
Transfer Wise is one of the most reliable services around and look to me like the one to use if you won't use some of the other services around to keep large amounts of money there.
 
#11
They just approved my company application! Which type companies you are using with TW ?

K12AN said:
Correct...Revolut does not currently support UAE.
I use LeuPay and am opening a TransferWise account (no debit cards for UAE).
TransferWise (In my opinion) is a safe place to hold funds as it's regulated by the FCA as well as EU. I'll use this like a savings account and then transfer money to my LeuPay for business spending needs.
Click to expand...

hiju said:
Transfer Wise is one of the most reliable services around and look to me like the one to use if you won't use some of the other services around to keep large amounts of money there.
Click to expand...

K12AN said:
Agreed...and theyay be offering debit cards for non UK business soon. Then it will be perfect for me.
Click to expand...
 
#14
K12AN said:
I have a UAE based IBC which is legit and I use LeuPay.
It has been great, but as my business is growing I am concerned about storing reasonably large amounts in my LeuPay account. To be clear, they haven't heard in me any reason to be concerned, I just don't like keeping lots of money in e banks.
Ideally I could find a European bank which will allow me to deposit funds I to a business account.
Click to expand...
Hi K12AN. You wrote you have an UAE based IBC and use LeuPay. I tried to create an business account there, but UAE is not showing up? May be they changed something? Thanks!
 
#16
jojojo said:
I ma confused - you state that
"I have UAE residency(0% income tax) and I opened RAK ICC offshore company at last week but unfortunately opening a bank account for my offshore company with UAE banks is very very hard because of that I am looking for a solution."

surely its on "onshore" company UAE wise and bank account is easy to get locally? I have been asking about clarification about UAE in another thread.
Click to expand...
What's your point with this post o_O
 
#18
That is exactly the topic here: Bank accounts for OFFSHORE UAE Companies!!! NOT bank accounts for Onshore UAE Companies.

To get an company bank account for OFFSHORE UAE companies is really not easy. Only a handful or less banks in UAE offering bank accounts for UAE Offshore Companies (but is it not funny that many offshore companies are offered in the internet, but they can not offer many bank accounts for offshore companies??).

So the question is, which other banks, digital banks/services are possible for OFFSHORE UAE Companies, like, Worldcore, Leupay, Europacific bank etc.

Who knows more and other possibilities for OFFSHORE UAE Companies?

Thanks!
 
#20
rowena said:
Hello,
I have UAE residency(0% income tax) and I opened RAK ICC offshore company at last week but unfortunately opening a bank account for my offshore company with UAE banks is very very hard because of that I am looking for a solution.

- My business and company are 100% legitimate - no darks and nothing to hide.
- I am working with Apple Inc and they are sending me monthly payments(almost they cover all of).
- I need IBAN / USD or EUR.
- I have monthly $100k turnover.

I am working with Payoneer right now but they are very expensive. I am paying 1.4% fee. I found those solutions. Which one is best for me ?

- Transferwise
- Worldcore
- Leupay

- Breder Suasso
- Europacific bank

Thanks !
Click to expand...

If payoneer is working good 1,4% fee is not high :)
btw leupay is good
 
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