inector said:
If we go Dubai, and let's say we get lucky with a bank like ENBD, and they block the account as the volume increases (due to suspicion) - how are we going to get the funds out? Dubai is really focused on nationals, and only slightly about foreign residents (lived there for 7 years). Tried to contact
@Fred about company & bank setup, but he seems to be busy atm.
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Honestly, I am unable to give you any advice re: Dubai comparably valuable with the one from
@Fred.
🙁 My knowledge of those specifics is too limited.
inector said:
With their "Capital" insurance of up to 5M, and with FDIC insurance up to 250K,
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Just do not overlook that Mercury is a financial technology company, not a bank. Banking services are provided by Choice Financial Group and Evolve Bank & Trust ”“ FDIC members. (So not only Mercury itself decides what will happen.)
inector said:
is there still risk of something going south? I asked them about those countries, they were like "yeah, why would it be a problem".
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Well ”“ may be; and good for you
🙂 But note, I have not questioned transfers to UAE & Dubai in general. My doubts concern 6 figures transfers, if the account has a comparably high (or even lower) stable balance.
inector said:
I mean, even if they block the account, being a stable country and all, shouldn't they just simply transfer funds to another bank in US?
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Yes, I guess so ”“ unless they start (might be forced to start) some AML (etc.) investigation.
inector said:
That was also a choice, but the transfers to high-risk countries is the main question really. Would LU / LI be more open to those transfers? Or its still EU...
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LI is not EU
🙂
Generally, re: CH and LI, (IMO) the core of the problem is if the bank onboards you and if the bank is OK with a transactional banking. UAE is not a problem (AFAIK), Belize just a little bit and/or sometimes.
inector said:
On a quick note, am I wrong to say that for example HSBC has a branch in UAE, and has many clients in Belize, so they would be more chill with transactions to there?
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In theory, it might work. But see below.
Asmodeus said:
Avoid HSBC.
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Yes. Per my experience, it is not the bank I would recommend (but YMMV).
Asmodeus said:
If you got onboarded with millions in expected turnover no one really asks questions.
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If the transactions correspond to the balance and the company business then I agree.
Asmodeus said:
But in my case ENBD never asked for any documents and i received about 3M+ and send out 3M+ to weird jurisdiction private bank accounts.
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Good for you
🙂 Would you mind sharing the average/usual account balance and the average/usual sum for one transaction, to make a better picture?
Asmodeus said:
If you don't want any headaches with banks then go with maerki baumann, but they are expensive.
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Are they OK with a transactional banking?
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice
🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
