Could AdvCash work as a proxy for crypto exchange withdraw from offshore companies?

[flyingadventures662]

There are quite some EMIs out there which accept natural persons even for free and are fine with transactions from crypto exchanges.

But when it comes to offshore corporate accounts it could be pricey, slow and questionable even if they would agree to open such account for offshore companies.

Recently I came up with an idea which I haven't tried (as I am still opening my offshore company) but I am wondering if someone has done this:

1) Open a Wise IBAN (should be fine, but not for crypto). They say it's fine for regulated crypto exchanges but I heard some people still having issues with them for crypto.
2) Transfer the crypto to AdvCash
3) Convert the Crypto on AdvCash to EUR
4) Do a SEPA transfer from AdvCash to Wise

The only gain you get it Wise would see it as coming from AdvCash (which could be claimed to be another corporate wallet account and not a crypto exchange) but it could be enough to pass.
The disadvantage is the quite high conversion fee on AdvCash.

But still, I'm curious if someone has tried that for jurisdictions like BVI, SVG, etc...

 

[TheCryptoAnt]

Yes it does.

If you are using Binance, you can wd EUR directly to ADV and from there SEPA to WIse.
I used this w a Nevis corp some time ago.

Have paperwork ready in case they come asking for PoF, which obvs cannot be crypto related.

TheCryptoAnt said:
Yes it does.

If you are using Binance, you can wd EUR directly to ADV and from there SEPA to WIse.
I used this w a Nevis corp some time ago.

Have paperwork ready in case they come asking for PoF, which obvs cannot be crypto related.
Click to expand...

Edit to correct the jurisdiction as it was Anguilla, not Nevis

Last edited: Feb 12, 2023