Suppose, I wanted to do business with Iran and Cuba. What jurisdictions and banks would be a good fit for that -- to open a company and bank account there? For instace, would Seychelles and Belize do?
To do business with Iran and Cuba -- what jurisdiction would be a good fit?
- Thread starter JamesDonkey
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I doubt any bank would want to do business with you lol. I'm pretty sure banks aren't allowed to do any business with Iran
I would select an Iran Freezone company if possible. Banking wise use the Iranian bank Melli, Hamburg branch.
https://www.bankmelli.de/en/
There is no SWIFT currently...lol. My guess is wait for EU's INSTEX network and JCPOA talks to either work or fail with Iran. If talks succeed then Iran will be back on SWIFT again or more likely INSTEX network maybe ready.
https://instex-europe.com/about-us/
Otherwise historically BCP and REYL bank in Switzerland was where people banked some business with Iran pre-Trump re-imposed sanctions.
For Cuba no idea.
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Some years ago I was in Cuba, I saw the Chinese UnionPay system logo in several places, probably Chinese banks have a way to work with Cuban Banks and you may want to investigate in that direction for a bank account that works there. I also saw some business from Chinese people living or working there.
Not sure... is just an idea.
Not sure... is just an idea.
Any credit card works fine in Cuba and I guess also in Iran (but I am not sure).
You can travel there and use CC (Visa, MC and Unionpay) and POS, or cash, or crypto, or use Cuban banks in Europe (Banco Exterior de Cuba). Currently there is a lot of European investment in Cuba.
You can travel there and use CC (Visa, MC and Unionpay) and POS, or cash, or crypto, or use Cuban banks in Europe (Banco Exterior de Cuba). Currently there is a lot of European investment in Cuba.
My question is about jurisdictions and banks *outside of Iran and Cuba* -- the ones that would be a good fit to do business with Iran and Cuba.
Are there some banks that wouldn't care if one sent to or received money from a business in Iran or Cuba? Except the ones located in those countries, of course.
Are there some banks that wouldn't care if one sent to or received money from a business in Iran or Cuba? Except the ones located in those countries, of course.
North Korea smi(&%
Try Hong Kong, Egypt, Russia, Serbia, Bosnia maybe. Start here: Foreign relations of Iran - Wikipedia
UAE seems to be one of the main trade partners of Iran, maybe @CaptK can chime in.
Don't mix Cuba with Iran. Cuba receives money even from transfer services whilst Iran was disconnected from swift in 2012.
I think you should check with Spaniard banks.
You have also chosen two beautiful countries to do business with.
You cannot do direct business with Iran. Everything is done through UAE, Turkey and other third countries and without a local business relationship and trusted person/company as exchanger you will lose your money faster than you can see.
NO credit card works in Iran!
They have a fully local banking system and cards.
Thanks for clarify, I wasn't sure about Iran due to swift. I know they are connecting to Russian MIR anyway.
reading the thread you got a lot of valid suggestions already, specially the Hamburg branch for the Iranian bank I would look into.
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Due to sanctions, the banks are NOT allowed to do any banking!
As already written, you cannot do direct business with Iran. Everything is done through UAE, Turkey and other third countries and without a local business relationship and trusted person/company as exchanger you will lose your money faster than you can see.
You can try Bank Saderat Iran, UAE branch. Account opening forms are online or just walk into the Dubai office and ask.
http://www.banksaderat.ae
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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