Receiving money from company to EMI

[albright]

hi,

Is it possible to receive money to an EMI personal account from a company bank account, or does the EMI have to be setup as a corporate account? What if you were self employed and not set up as a company, but needed to be paid by a company to your EMI?

From what I can see from the likes of Advcash, any money received must come from an account in the same name, not a third party.

 

[Martin Everson]

Yes you can receive third-party payments in an EMI personal account from a company. You can't however use a personal EMI account like a business account and be selling goods and services. Activity such as receiving your salary from thirdparty companies where an employment contract is present is generally acceptable on personal EMI accounts.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Dubsize]

albright said:
hi,

Is it possible to receive money to an EMI personal account from a company bank account, or does the EMI have to be setup as a corporate account? What if you were self employed and not set up as a company, but needed to be paid by a company to your EMI?

From what I can see from the likes of Advcash, any money received must come from an account in the same name, not a third party.
Click to expand...

I once asked the exact same question direcrly to TransferWise support and they told me that was fine as long as I had documents supporting the transaction.
i.e : in case you receive your salary a employment contract etc.

 

[Spinat]

Did it the way with Mister Tango until they fucked up my account

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[James Turner]

If the account is to be used for business transactions it should be created as a corporate account. As @Martin Everson has stated you can use a personal EMI to receive funds from companies where you are employed or a contractor receiving your income etc, but no to do business.

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[negon]

albright said:
From what I can see from the likes of Advcash, any money received must come from an account in the same name, not a third party
Click to expand...

You want to test this in order to find out the truth ange¤%&

For corporate account you can open a Mister Tango or Kraken account both works just fine.

 

[JohnLocke]

albright said:
Is it possible to receive money to an EMI personal account from a company bank account, or does the EMI have to be setup as a corporate account?
Click to expand...

Mister Tango allow that when I used them.

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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.​

 

[Martin Everson]

InterConsult said:
The accounts are managed in Malta
Click to expand...

No thank you.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.