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@PinkCat do you have any first hand experience with Kraken to Wise?

I actually do have a US brokerage account with Schwab so I have just contacted them and asked if I'm allowed to receive 3rd party wires and the answer was yes. That's a good start. International outgoing wire fee (to eventually withdraw the funds) is $15, it remains to be seen if my EU bank...

Is there a US brokerage that allows you to use your account to receive 3rd party incoming wires/ACH? Interactive Brokers forbids it. I only need a US account to receive USD payments, as it's expensive for both parties to receive them into a USD account abroad. I do not have a Wise business...

I'm also seeing this article on the Wise blog: Can I Use My Personal Bank Account For Business? Which clearly says you can use your personal account for business transactions, 'although it's messy and not recommended, it's still allowed' (paraphrased). How come so many horror stories about...

So people here can confirm that in their experience receiving thousands of dollars in affiliate payments into your personal Wise account is no problem (as long as it's not a gray area affiliation like gambling or P**N)? Wise doesn't contact you about it at all?

There are definitely banks who open personal accounts for non-citizens/residents, as long as you provide your country's tax ID. I'm not sure if Paraguay is on their whitelist though, you just need to shop around and ask (ask the banks, not the forum). They have lists of countries that are low...

The dark theme is much nicer, thanks for switching back to it. The new design itself is good, just keep it dark :)

What would it take (for an EU citizen) to obtain the Bulgarian residency which is required for the freelancer tax status there? Is just presenting a rental agreement enough or do I need to prove that I am physically present in the country for X amount of time a year?

What about if you are a Romanian citizen (have a CNP and a Romanian passport but never lived in Romania)? Can you obtain residence (to qualify for the microcompany structure) more easily or do you still need the tenancy agreement?

I was when I tested it, I only withdrew a tiny amount and it was years ago though.

What about the condition of employing a person though, can I employ myself or do I literally need to employ someone else? Anyone knows? If it's the latter then that's a serious hurdle.

According to the article these changes come into force at the beginning of next year.

See article here. - Dividend tax increases from 5% to 8%. - Income tax is 1% of turnover, but you MUST have at least one employee. If you have no employees you are not considered micro and therefore will have to pay 16% tax. - Turnover must be 500k or less. - Only 20% of the revenue can be...

Upon trying to make a new deposit, the compliance department contacted me and explained as I described in my previous post. Bottom line, they don't take kindly to people using them as a 'forex broker' or as some kind of a Wise alternative. Due to regulators beating down on them hard as of late.

^ Exactly. 2 years ago they were fined a large sum for 'being too loose' as you put it. They no longer allow using the account for currency exchange unless you show 'a non-currency trading activity proportional to your account size'. If not so, your deposits will be rejected and your account may...

That's a 5% tax rate, what about tax on dividends (taking profits)? Googled that it's 15%? Still doesn't pay off comparing to Romania? Am I missing something?

Last I checked Paypal also introduced a flat $35 fee for USD withdrawals to non-US banks.

I would love to know of a cheaper alternative (that is not Revolut), will seriously consider switching.

^ I second the question above although this time with Paypal. If I withdraw from my own Paypal into Wise (personal account), do they consider this 'business income' and may start asking questions, or does it count as just wiring personal funds? Does anyone have experience with Paypal to Wise...

Due to strong criticism, this measure has been 'postponed' with no new implementation date given (link).