Which EMI or bank would you choose in the US to open a bank account given the following facts:
-company located in HK
- EU citizenship
- insured deposits
-company located in HK
- EU citizenship
- insured deposits
Account for HK company in US
- Thread starter regi
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Thanks Sols for the quick response.
HK as I do business mainly with China. Setup was easy and took a few days including all the paperwork. That was years ago.
The costs of keeping the company alive are not high (approx. EUR 2.3 thousand for reactivation + annual audit). It is a limited liability company.
Why U.S.? because it is politically and economically stable. I'm looking for a non-crs jurisdiction, but not a junk jurisdiction.︀
I don't want to wake up one day and find that the bank is gone︁ with my money. That's why I prefer insured deposits like in the USA by FIDC.︂ Above all, I value my privacy and as long as possible, I would like to︃ keep it that way.
Revolut definitely reports to crs, so I gave up on them︄ a long time ago. I'm already with Wise. So far there is no account there,︅ only transfers with exchange. I saw they provide a multi currency account.
The key issue︆ for me is that they are based in the UK, and they report to crs.︇ I'm worried that if I start keeping money in there, they'll blow steam.
I study︈ this forum and found Payoneer, Brex, Arival Bank, also Zenus (only for private accounts for︉ now). What do you think ? Can you suggest a better solution?
I also tried︊ to open remotely accounts in TD, BoA, US Bank - all for CANADA/US, USBank said︋ yes but only in their branch.
Airwallex, Stripe, are in reporting jurisdictions so I gave︌ up this direction.
I would like to open the account remotely.
HK as I do business mainly with China. Setup was easy and took a few days including all the paperwork. That was years ago.
The costs of keeping the company alive are not high (approx. EUR 2.3 thousand for reactivation + annual audit). It is a limited liability company.
Why U.S.? because it is politically and economically stable. I'm looking for a non-crs jurisdiction, but not a junk jurisdiction.︀
I don't want to wake up one day and find that the bank is gone︁ with my money. That's why I prefer insured deposits like in the USA by FIDC.︂ Above all, I value my privacy and as long as possible, I would like to︃ keep it that way.
Revolut definitely reports to crs, so I gave up on them︄ a long time ago. I'm already with Wise. So far there is no account there,︅ only transfers with exchange. I saw they provide a multi currency account.
The key issue︆ for me is that they are based in the UK, and they report to crs.︇ I'm worried that if I start keeping money in there, they'll blow steam.
I study︈ this forum and found Payoneer, Brex, Arival Bank, also Zenus (only for private accounts for︉ now). What do you think ? Can you suggest a better solution?
I also tried︊ to open remotely accounts in TD, BoA, US Bank - all for CANADA/US, USBank said︋ yes but only in their branch.
Airwallex, Stripe, are in reporting jurisdictions so I gave︌ up this direction.
I would like to open the account remotely.
I understand your perspective; nevertheless I'm afraid that you will hardly find a native︊ US bank which onboards HK company remotely. But what about establishing a WY or NM︋ LLC, using HK company just as a pass-through? For this LLC you will have more︌ banking options (Mercury, TryNovel, Relayfi, etc. – search here for discussions).
They are in CRS jurisdiction which makes me feel bad.
I think HK is good for doing business but not for keeping money.
The political situation there is unstable. On the one hand, it's good, because the government has significantly reduced the fees for renewing BRC.
How much would I have to spend for launching LLC company ? And how much annual︁ maintenance costs ? I am not sure if it is worth to do it just︂ for pass-through purpose.
Both options are reporting to︅ CRS so it is not workable for me. The Switzerland was ok but those days︆ are over.
I think HK is good for doing business but not for keeping money.
The political situation there is unstable. On the one hand, it's good, because the government has significantly reduced the fees for renewing BRC.
How much would I have to spend for launching LLC company ? And how much annual︁ maintenance costs ? I am not sure if it is worth to do it just︂ for pass-through purpose.
Both options are reporting to︅ CRS so it is not workable for me. The Switzerland was ok but those days︆ are over.
IIRC, nothing remarkable, WY (or NM) LLC can be for less than $100(~50?) and a yearly maintenance just a few bucks, too.
It is worth noting that if you have a UAE company and a residence visa (can be obtained because of owning a UAE company and the conditions are not harsh) then UAE︀ authorities take you as a UAE resident and do not report anywhere, AFAIK. But evt.︁ re-check this, I'm not sure how it interferes with a UAE tax residency where the︂ conditions are a little bit more demanding.
It is worth noting that if you have a UAE company and a residence visa (can be obtained because of owning a UAE company and the conditions are not harsh) then UAE︀ authorities take you as a UAE resident and do not report anywhere, AFAIK. But evt.︁ re-check this, I'm not sure how it interferes with a UAE tax residency where the︂ conditions are a little bit more demanding.
They are in CRS jurisdiction but they don't report to CRS.
You can︀ ask their customer support.
This is their answer:
Since Currenxie is not a bank and︁ corporate in HK, the AEOI protocol does not applicable to our customer's account.
However, we︂ have the legal obligation to provide any required information if any authorised organizations request.
You can︀ ask their customer support.
This is their answer:
Since Currenxie is not a bank and︁ corporate in HK, the AEOI protocol does not applicable to our customer's account.
However, we︂ have the legal obligation to provide any required information if any authorised organizations request.
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