emi-acct as only account

[Magnyz]

Here's a question from a newbie. Sorry in advance if I don't even know the correct terms to ask a question ;-).

Generally speaking, is it possible for a corporation to have an account with an emi-institution as the only account? I am thinking that in order to deposit funds to the emi account you need to have real bank account somewhere else first.

 

[Gediminas]

Hey,

Yes, you can run your business with only one EMI account. It's not recommended, but you can do that.

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[Magnyz]

Thanks for your comment. What is the drawback to have a business with EMI-account only?

 

[JohnLocke]

Some people only use an EMI as the only banking facility for their business or private.

You don't need to have a bank account to open an EMI.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Gediminas]

Magnyz said:
Thanks for your comment. What is the drawback to have a business with EMI-account only?
Click to expand...

I mean, it's better to have more than one account. For diversification purposes, etc.

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[blizz]

Magnyz said:
Here's a question from a newbie. Sorry in advance if I don't even know the correct terms to ask a question ;-).
Click to expand...

no need to say sorry, we have all been where you are.

You can use an EMI as only bank account if that is what you would like to do or if you are unable to find a real bank account.

Toggle signature
Be part of the elite, be Mentor Group Gold coo-:!y