Maltese Limited EU SEPA account

[jackfrost]

Any current recommendations for bank licensed EU SEPA account within the EU for Maltese Limited doing proper IT consulting? Preferably outside of Malta.

Except for CIM.

 

[jackfrost]

EMI if it has a real bank license with deposit protection etc and is officially regareded as a real bank. Interactive Brokers etc dont like Revolut/Transferwise etc even if the account is in your name and well no protection.

Fee structure should not be much higher than CIM.

 

[BlueMist]

Are there EMI's with real bank licenses and money protection?

As for the original question, Bank of Cyprus seems to be working again for Malta IT companies. I got a green light to apply and it is pending now...

 

[jackfrost]

thanks well i guess bunq would qualify as that for private use as well as n26 but corporate no i dont know of any

 

[JohnLocke]

BlueMist said:
As for the original question, Bank of Cyprus seems to be working again for Malta IT companies. I got a green light to apply and it is pending now...
Click to expand...

please update this thread if you get an operational account with BoC !

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[BlueMist]

Admin said:
please update this thread if you get an operational account with BoC !
Click to expand...

Update: got the operational account at BoC for MT trading with nominee CY holding.

@jackfrost what's wrong with CIM apart from the fees? Do they charge negative interest rates on EUR balances?

 

[jackfrost]

@BlueMist great you simply applied online?

as for CIM: nothing, havent had any issues with them apart from fees, dumb me did not need the corporate accoun with them back then and now they dont open accounts for MT companies anymore unless you are an old client (they accepted me and are presenting the case to compliance atm)

Also they will not accept transfers from Revolut.

 

[BlueMist]

jackfrost said:
@BlueMist great you simply applied online?
Click to expand...

Cyprus banks will only work with official introducers. Basically you can do nothing without the introducer, you can't even apply for corporate cards yourself once you have the accounts open. The introducer have to certify your applications. The only thing you can do directly is updating UBO personal address 🙂

 

[jackfrost]

Ah thanks.

Could you get me in contact with yours or would you just say "use your accountant"?

 

[AlbanyJames]

jackfrost said:
@BlueMist
as for CIM: nothing, havent had any issues with them apart from fees, dumb me did not need the corporate accoun with them back then and now they dont open accounts for MT companies anymore unless you are an old client (they accepted me and are presenting the case to compliance atm)

Also they will not accept transfers from Revolut.
Click to expand...

For corporate account....

Are they crypto friendly?
Do they accept any non EU jurisdictions?

 

[jackfrost]

doubt that they will allow crypto, think they allow non EU too, probably not US. you will have to sign 10x that you do not have any connections to the US

 

[BlueMist]

jackfrost said:
Ah thanks.

Could you get me in contact with yours or would you just say "use your accountant"?
Click to expand...

I used FBS Cyprus but it can be any official introducer to the bank.

BoC accepts non EU entities.

 

[jackfrost]

thanks PS: CIM i think does charge negative interest but only after 3mln+