EMI for business with real bank IBAN?

[JohnLocke]

Rprox said:
Hi, checking out forums with some Xolo experiences and reviews. Is it necessary to travel all rge way to open a Bank account? No digital signing?
Click to expand...

You may want to contact Xolo directly to get a quick answer. Usually @Martin Everson knows what he is talking about and if he say you have to travel then he may have gone through the process already to know that.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Martin Everson]

@Rprox Yes you need to travel to open an account with LHV if you use Xolo.

https://www.xolo.io/zz-en/faq/xolo-...-do-i-set-up-a-business-bank-account-with-lhv
-----

In order to get a standard business bank account with LHV, they require a physical face-to-face meeting with a bank representative, largely due to security concerns such as anti-money laundering and counter-terrorism.

To make your life easier when you're opening your LHV account, Xolo will assist you with relevant banking procedures both before and during your trip to Tallinn, Estonia. While we can't guarantee the success of getting a bank account for your business (this is the sole decision of LHV), we can get you pre-acceptance for a bank account.

-----

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Rprox]

Martin Everson said:
@Rprox Yes you need to travel to open an account with LHV if you use Xolo.

https://www.xolo.io/zz-en/faq/xolo-...-do-i-set-up-a-business-bank-account-with-lhv
-----

In order to get a standard business bank account with LHV, they require a physical face-to-face meeting with a bank representative, largely due to security concerns such as anti-money laundering and counter-terrorism.

To make your life easier when you're opening your LHV account, Xolo will assist you with relevant banking procedures both before and during your trip to Tallinn, Estonia. While we can't guarantee the success of getting a bank account for your business (this is the sole decision of LHV), we can get you pre-acceptance for a bank account.

-----
Click to expand...

Thank you for this @Martin Everson.

 

[Crumbly Pringle]

Through my experience setting up bank accounts with Brick and Mortar banks and EMI's as well. I can say that Lithuania has some valid options for both EMI's and Banks, some offer dedicated EU IBAN's for any form of account. The transaction fees are minimal and the onboarding process takes up to 2 weeks at the most.
If that's not your cup of tea, have a look at some of the EMI's in Germany, the UK, and Dominica. Most of the EMI's there provide a dedicated IBAN.

 

[spacely]

eesticonsultingee said:

Opening bank account is still possible (SWEDBANK , LHV ) - I have positive track record from these 2 both banks

LHV - remotely client due dilligence
SWEDBANK - personal visit required
Click to expand...

Wow, interesting!
Can you possibly share more details? Like were the shareholders and board members from the EU or outside of the EU? Did they have some substance before applying for the Bank account?