Search results

Some news article about this thing: https://gulfnews.com/business/dubai...siness-people-and-freelancers-1.1569863099064

No stripe in Cyprus for sure. It's a struggle.

@lavel just keep in mind that Georgia is still developing (actually a lot and fast and I think on a good track). This will be for sometime still the case, don't expect it to be a second Dubai. There are many other countries world wide which will make you feel real uncomfortable. But I agree you...

Thank you all for the very useful responses! I ❤️ this forum!

That's the problem. Banks in Georgia do not care of statutes. They know who the director is and give full access.

Hi everybody, I've got today information that a nominee director can theoretically fully access a companies bank account in Georgia (e.g. on TBC) even if he/she never had internet access to the companies account. How do people protect themselves in such a situation? It seems the only...

Where did you get that information about Revolut @mentalmind ? That's wrong or totally outdated! Revolut and Revolut for Business offer real IBAN for SWIFT USD transfers for sending and receiving in your name (or your companies name).

Trust me, Marshall Islands is the problem. 99,9% of payment gateways (don't know what the exceptions are) don't even look at your kind of business with Marshall Islands as jurisdiction! High Risk or not... Visa and MasterCard need to work with your jurisdiction and they also don't like Marshall...

It's definitely possible to send and receive money from/to EU with a Georgian bank account. Only heard from one friend that Bunq in the Netherlands did not let him send money to Georgia (which is strange in my opinion). Silk Road Bank is one of the smallest and sh*ttiest banks in Georgia. Don't...

No, why should they? Georgia is also a special trade partner with EU, google DCFTA and not unlike other states on the EU blacklist (like e.g. United Arab Emirates).

BTW @Jonny Cage TBC bank informed me that law paper you mentioned is outdated and new one is here Decree â„–8/04 of the President of the National Bank of Georgia of 22 January 2015 “On Approval of the Procedure for Performing Payment Operations”...

So my accountant in Georgia also confirmed (without any sources unfortunately): It is possible to pay dividends in foreign currency with a Georgian company if you have an account for resident company abroad (which means outside Georgia). So far I've seen it is possible to create accounts for a...

Wow, thanks @Jonny Cage you seem like the expert we needed. So much thanks for clarification on that! After reading the article I'm only worried about Section 11 Part 7: "If the amount of the transfer operation in foreign currency is increased by GEL 3,000 or equivalent in another currency...

You don't play games with banks, also not in Georgia. I have nothing to hide and you tell banks what kind of transfers you do (like reason for transfer etc) also sometimes attach invoices for transfers etc. to have a good relationship with the bank. If you hide dividends payout in the bank your...

I've got now information from 3 different sources. All say dividends need to be payed in GEL. Banks in Georgia block also dividends payed in other currencies (tried it myself by accident). One source told me the reason for that is the national bank in Georgia which forbids dividends in other...

Just heard from my Georgian accountant that dividends from a Georgian LLC can only be payed out in GEL. It is not allowed (by Georgian law) to pay out in other currencies. Is this true or someone has different experiences? Just don't like the pointless double conversions to get USD or EUR...

There is no real solution with Transferwise and your country. You need either another bank/EMI or another country then.

The reason for why Transferwise has no USD bank details for Belize or Cyprus companies is that their partner bank (I believe it is Wells Fargo?!) within the US ranks those countries internally as somehow higher risk countries. It's not Transferwise who is making this up it's their partner...

I'm pretty sure all this banking options are only for US citizens in one way or the other. This are not remote banks for non US entities.

Private ones but not as established it seems: https://moven.com/Arival (The first finthech bank) (very new, only demo access)