How or where to open bank account for Dubai free zone company

[Martin Everson]

eleb2019 said:
what do you think about company 1sterlng.uk
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It links to a Russian website ns2. It has listed a lot of offices around the world from Caribbean to Australia including EuroPay itself.

I think they are trying to cross sale you. They seem to be selling companies with a history and opened accounts and history. You make payment to Russian organization it says on site when you translate site....lol rof/%. So Europay has an associated company site selling pre-opened accounts and companies with history??????? Sounds fishy as hell.

P.S I smell Russian laundromat

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

 

[eleb2019]

Yes. Therefore i asked. After this point seems that main market for Europay is Russia and other CIS countries. Looks like fast and not cheap alternative for ABLV. I checked a lot of Russian company registrator and most of them are offering english and irish LP's with accounts in Europay. What is the main difference between banks and EMI? if i open the account in EMI for some time untill i open the account in bank is it normally?

 

[Martin Everson]

eleb2019 said:
After this point seems that main market for Europay is Russia and other CIS countries.
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Yup the main market for all the EMI's formed in Eastern European countries along the borders with Russia is to service Russians looking to launder money and Russians resident in those border countries. Other clients outside Russia who use these EMI's are simply side business to the true activity of these EMI's. This goes for 99% of Eastern European EMI's funded with mostly Russian money. EuroPay's affiliated companies is a brilliant example of them marketing to Russian clients pre-made companies with an open account at EuroPay and business history - for one purpose only ns2. They really give Eastern Europe a bad name and compromise the EU in the long run.

eleb2019 said:
What is the main difference between banks and EMI?
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In practice nothing really other than deposit insurance that banks offer and the ability of banks to be able to offer credit etc.

eleb2019 said:
if i open the account in EMI for some time untill i open the account in bank is it normally?
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Yes. Some people in fact entirely use EMI's like Transferwise which are much cheaper and easier to deal with than banks.

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

 

[Jonny Cage]

Belarusian banks will probablu accept UAE free zone companies.

Cocerning TBC Bank in Georgia you can forget, there's no way they will even look.

 

[eleb2019]

Jonny Cage said:
Belarusian banks will probablu accept UAE free zone companies.

Cocerning TBC Bank in Georgia you can forget, there's no way they will even look.
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Thanks. Will send the inquiry to Belarusian banks also.

 

[eleb2019]

Martin Everson said:
Yup the main market for all the EMI's formed in Eastern European countries along the borders with Russia is to service Russians looking to launder money and Russians resident in those border countries. Other clients outside Russia who use these EMI's are simply side business to the true activity of these EMI's. This goes for 99% of Eastern European EMI's funded with mostly Russian money. EuroPay's affiliated companies is a brilliant example of them marketing to Russian clients pre-made companies with an open account at EuroPay and business history - for one purpose only ns2. They really give Eastern Europe a bad name and compromise the EU in the long run.



In practice nothing really other than deposit insurance that banks offer and the ability of banks to be able to offer credit etc.



Yes. Some people in fact entirely use EMI's like Transferwise which are much cheaper and easier to deal with than banks.
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So i can use EMI's accounts for fast deals and then transfer the deposit to the account in bank. Why i am asking, just seems that opening of account will take some time (2-3 weeks) but if i will need to get money before than i can get it to EMI's account for this short period.

 

[Martin Everson]

eleb2019 said:
So i can use EMI's accounts for fast deals and then transfer the deposit to the account in bank.
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Yes

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

 

[Natasja]

djaheim said:
Georgia wont open a Business Account for non resident entity.
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That's not true actually. I've had a personal phone call with TBC bank and Bank of Georgia for this purpose. TBC bank was not very consistent in their given answers but Bank Of Georgia made it very clear they were willing to open a business account for a non-resident entity.

They both declined me in the end though, but that was primarily due to the business activities (pharmacy).

 

[djaheim]

Natasja said:
That's not true actually. I've had a personal phone call with TBC bank and Bank of Georgia for this purpose. TBC bank was not very consistent in their given answers but Bank Of Georgia made it very clear they were willing to open a business account for a non-resident entity.

They both declined me in the end though, but that was primarily due to the business activities (pharmacy).
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as you said they've been inconsistent i got told No they dont do it and i resigned to my fate.

 

[Hani Salaam]

eleb2019 said:
Thanks for responses.
For now have few ways to go:
1. Alfallah Bank branch in Dubai;
2. TBC bank in Georgia;
3. Fortress Bank in Turkey;
4. EuroPay EMI;
5. CIMbanque.

What do you think?
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TBC Bank since 2018 does not open any type of bank account to companies not resident in Georgia.

 

[Hani Salaam]

HNWI said:
They do.
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At the moment it really depends on who introduced you to them.

 

[Bmw850]

Tired of hearing wrong infos. TBC still opens for non georgia company. UK LTD works.
But if you are into free move without using introducers, maybe it's true.
But TBC is not so good for banking at my opinion, I far prefer Terabank.

 

[Jonny Cage]

Bmw850 said:
Tired of hearing wrong infos. TBC still opens for non georgia company. UK LTD works.
But if you are into free move without using introducers, maybe it's true.
But TBC is not so good for banking at my opinion, I far prefer Terabank.
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Can I as when was last time you (or someone you know) succeeded in TBC or Terabank or in any other bank in Georgia? I was sure they don't accept any non-resident companies. moreover, they refuse to on board even Georgian comapnies without strong connection with Georgia.

 

[Bmw850]

Jonny Cage said:
Can I as when was last time you (or someone you know) succeeded in TBC or Terabank or in any other bank in Georgia? I was sure they don't accept any non-resident companies. moreover, they refuse to on board even Georgian comapnies without strong connection with Georgia.
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TBC since 2 monthes, Terabank i got regularly until now .

 

[Jonny Cage]

Bmw850 said:
TBC since 2 monthes, Terabank i got regularly until now .
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That's great. Maybe there's an introducer (a company) you can share with us?

 

[Bmw850]

i can, without guarantee, because i am border line, so my partners too. If @Admin allows, i will

 

[Jonny Cage]

Bmw850 said:
i can, without guarantee, because i am border line, so my partners too. If @Admin allows, i will
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seems like no sign of reaction from him

 

[JohnLocke]

Bmw850 said:
i can, without guarantee, because i am border line, so my partners too. If @Admin allows, i will
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You can just go ahead and post your selfpromotion, we have no alternatives so far that's why I will allow it, I will do some checks and if it's your service or I find out it's fraud you account is gone. We will start cleaning the forum during the next weeks, big things will happen.

Until then, I hope someone will succeed with the account opening in Georgia, AND, report back here.

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[dvm]

Jonny Cage said:
moreover, they refuse to on board even Georgian comapnies without strong connection with Georgia.
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Second that.

 

[eleb2019]

UPDATE.

1. No one Georgian bank accepted our company. Despite the fact that we have real partners in Georgia.
2. Belarussian and Serbian banks replied and accepted documents for compliance, but no any answer.

Our business is fully legal and real. Not laundry, online or crypto. The reason of problem with bank accounts is only because of combination of owner citizenship and company location.