Revolut and Wise Business Accounts for LLCs as non residents

[thaowessuwan]

Hi everyone,

Revolut and Wise Business are European fintech banks that offer accounts for LLCs non residents. I'm curious, do they share account information with the account holder's country of residence? I've seen mixed opinions on this, some say they do, others say they don't.

Does anyone have concrete information or experience with this? I'm specifically referring to LLC business accounts, not personal accounts

Thanks!

 

[sknomad]

Revolut does not offer accounts fornon resident US LLCs .
Wise does. But requires you to have a real office.

 

[thaowessuwan]

sknomad said:
Revolut does not offer accounts fornon resident US LLCs .
Wise does. But requires you to have a real office.
Click to expand...

I have both accounts under my LLC and I am not a US resident.

 

[daniels27]

thaowessuwan said:
Revolut and Wise Business are European fintech banks that offer accounts for LLCs non residents. I'm curious, do they share account information with the account holder's country of residence? I've seen mixed opinions on this, some say they do, others say they don't.
Click to expand...

You need to assume that they are reporting this in full. Rules differ per country, but even if they do not report today, it is very likely that in the next 5 years, there will be a rule to report which includes all data going back 5 years.

You cannot use it for criminal tax evasion that way. Use your Wise wisely and book a one-way ticket out of your home.

 

[sknomad]

thaowessuwan said:
I have both accounts under my LLC and I am not a US resident.
Click to expand...

thaowessuwan said:
I have both accounts under my LLC and I am not a US resident.
Click to expand...

If you have US SSN from the past and US residenrial address with US address, Revolut accepts this and does not check if you really live in the USA.

Wiss will open account with almost any address. That is not an issue. Provldm is that they will require proof of US address after some time.

 

[sknomad]

daniels27 said:
You need to assume that they are reporting this in full. Rules differ per country, but even if they do not report today, it is very likely that in the next 5 years, there will be a rule to report which includes all data going back 5 years.

You cannot use it for criminal tax evasion that way. Use your Wise wisely and book a one-way ticket out of your home.
Click to expand...

Where did you find anything about rax evasion in this post?

 

[daniels27]

sknomad said:
Where did you find anything about rax evasion in this post?
Click to expand...

Nowhere. OP was asking if they report or not and I told him that he needs to expect them to report either now or what happens now in future.