TransferWise and Workable Jurisdictions

[bigladsmith]

This is a wide and expansive question but for the sake of clarity all I'm wanting to know at the moment is:

What offshore Jurisdictions are still acceptable to TransferWise? I'm especially interested in jurisdictions that have low/zero compliance and good secrecy.

I know of the following:

1: Seychelles
2: BVI
3: Nevis

I'm keen to know from those persons who have first hand experience of any other locations and particularly those who've been approved by TransferWise from such jurisdictions recently.

Maybe keeping this thread updated will be a useful resource.

 

[MrYellow]

Or you just go TW webpage and see all supported jurisdictions. So just to read a webpage you don't need any assistance I'm sure

 

[For Free]

Transferwise can work with BVI for sure, but other jurisdictions (Seychelles, Nevis) may not be the problem. The matter is you have to pass KYC process to prove your legit business and it is not easy at all. The best chance is if you already have legit business somewhere with supporting documents and bank statements, then TW can support to open account. New business with nothing in hand will have little chance to pass KYC process

 

[Piano]

For Free said:
Transferwise can work with BVI for sure, but other jurisdictions (Seychelles, Nevis) may not be the problem. The matter is you have to pass KYC process to prove your legit business and it is not easy at all. The best chance is if you already have legit business somewhere with supporting documents and bank statements, then TW can support to open account. New business with nothing in hand will have little chance to pass KYC process
Click to expand...

Can you give an idea of the KYC process for new business ?

 

[Fred]

Back in 2017 and 2018 Wise was approving Seychelles and Belize IBC's in the same fast process like UK LTD's.

This times are already long time gone and the KYC of the Seychelles and Belize IBC's are very extensive and lead always to the same question from Wise - why did you incorporated in this jurisdictions and not in let's say the UK and you have to proof that the jurisdictions really make sense in connection with your business.

For example if you incorporate in the Seychelles and mention you want to run an E-Commerce Website and receiving money from Merchants - Wise knows that you can't get any Merchants for a Seychelles IBC nowadays without being resident in the Seychelles - so they will reject you. In the past they didn't really checked much and approved it.

We have seen a lot of customers with Seychelles/Belize IBC and Wise account but all were opened few years back in 2017/2018.

Toggle signature

 

[For Free]

Piano said:
Can you give an idea of the KYC process for new business ?
Click to expand...

1. They will ask about your passport and country of residence (with supporting documents)
2. They will ask about your new business, what will you do and who are your customers, suppliers? (with supporting documents - certificates, contracts, letter of intention to do business, quotation from suppliers etc.)
3. If you have any business somewhere else, you can quote them and answer some questions, send them some legit documents, it will give better chance to get account

 

[JohnLocke]

You want to pick one of the following jurisdiction if you want a valid and long term solution. You want to make proper research on each of them and contact a few agency services as well as some of the more knowledge people around here to see what your options are with each of the jurisdictions.

• Dubai / UAE (temporary unavailable)
• USA / Delaware,Wyoming
• UK
• BVI
• Republic of Georgia

there may be even more, out of the head the above list is what I know can work with Transferwise / Wise

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.​