EU bank for Nevis company

[unicorn]

Hello Gediminas,

Thank you for the offer ! I would love to say yes but‌ I am only preparing to start up (from scratch) and have no income yet, so‍ I fear I won't be able to match the requirements at this moment (am trying⁠ to sell my house to cut tax ties and then be free to go and⁤ live where I please with enough funding to set up the structure that benefits me⁣ best) (advisor fee + I don't have a bank balance I can deposit + at⁢ this moment can not pay eg 100 USD / month bank fee - so I︀ suppose I would not be a good client for you) ; I have to admit,︁ sometimes it scares me to read how bank accounts of some forum members get closed︂ in a blink and how OECD and EU pressure is so big it actually puts︃ entire jurisdictions "out of business". I'm actually wondering if starting up businesses making little to︄ no money yet, have to register a company if they are travelling (which is my︅ intention) and are not a tax resident in 1 country anyway. All my ties will︆ be cut, legally, with a deregistration document from the tax office, as soon as my︇ house gets sold. So I wonder, why register if you don't have to pay taxes︈ anyway and work freelance and could just use your personal bank account ? I liked︉ the nevis LLC foundation as it is simple, no hassle, no accounting, affordable ... but︊ this option then seems to block you operationally. what actually happens if you choose online︋ / freelance work but you are without a tax residence ?

 

[JohnLocke]

I would like to know what EU bank would open an account for a Nevis‌ company, if this thread only is about to contact a person specific then I will‍ close this thread or even consider to delete it.

 

[Gediminas]

For example, Pacific Private Bank. They are in Vanuatu Islands, but offers SEPA payments too.

 

[BlueMist]

It doesn't get the best reviews. Also SEPA access in‍ Vanuatu... it seems they are using some intermediaries. It looks fishy.
Also it is not⁠ EU bank.

 

[Gediminas]

Out of curiosity, what can be fishy‌ about the bank who operates over 20 years?

 

[BlueMist]

SEPA + Vanuatu.

Top 50 safest bank in the world‍ - Bank FAB from UAE doesn't have SEPA in Switzerland, despite having a presence there.⁠ Pacific Private Bank doesn't even seem to have any presence in Europe, so the way⁤ they are facilitating SEPA transfers must be fishy.

 

[Gediminas]

They have correspondent accounts at European financial⁤ institutions. A lot of remittance companies these days are built on top of local payment⁣ partners in different markets, so it is exactly the same, they just have partners in⁢ SEPA region.

 

[Gediminas]

If none of the countries try to consider you as a tax resident (for︍ example, you deregister your self from your home country and not register in any other,︎ also you always traveling and do not have ties with any country) theoretically you might️ not pay taxes based on your freelancing business since nobody is asking to do this.‌

If you have some fixed place of business in one country it might force you‍ to pay, but it depends on the lifestyle, how long you stay in one place.⁠ However, in this case, you would have an issue with the bank, which as a⁤ general rule asks for address and utility bill. So, in that case, it would be⁣ advisable to have some residence in the tax-friendly country which is not expensive to maintain.⁢ Since no country challenges this, you don’t need to spend time in that country, etc.︀

 

[unicorn]

thank you Gediminas. There is a lot of work to be︄ done ... it's a whole puzzle to figure out. Why can't they just leave people︅ alone, tax only the company and be done with it. If people don't ask for︆ "social security" (which does not exist) they should not pay for it. I prefer saving︇ and paying out of my pocket if I need to see a doctor. After my︈ accident, 90 % of the treatments were not reimbursed, so what good was my "social︉ security" ? I owned 2 companies so was entitled to close to nothing, there is︊ a different system for employees but even those are left with crumbles. Personal income tax︋ should be abolished and then you would see the economy pick up big time ...︌ who cares if you have to pay 20 USD to go swimming if you can︍ keep all your income ? Who cares you have to pay 100 USD to see︎ a doctor if you don't have to spend 50 % of your income on tax️ and social security ? who cares if you have to pay toll to drive on‌ a road ? who cares if VAT is 20 % ? It would force people‍ to take responsibility for their lives. And companies : let them pay a flat tax⁠ of 10 % on gross income all over the world and be done with it⁤ so people could actually do business where they enjoy doing business. No accountant, no bookkeeping,⁣ no audits, no .CRS, no CFC ... Why do people even accept to pay all⁢ these taxes anyway ? Especially as you see how countries are run and put in︀ debt more and more each year by the government.

 

[Gediminas]

You mean, you don't want︍ to pay taxes but still use the whole social infrastructure?

 

[unicorn]

no, I mean the opposite. I don't mind paying some‍ taxes and I don't want to use the "social infrastructure". This is my entire point.⁠ I had to go to private clinics and practitioners (and pay out of my pocket⁤ and had to sell one of my houses to pay for medical care and household⁣ help) and could not make any use of the "social infrastructure" although I paid about⁢ 35.000 euro per year on social security contributions alone before my accident ... social security︀ is a ponzi scheme and you only discover it when something happens to you.

If I run a company and that company pays taxes, I don't see why I should︁ pay taxes AGAIN on my own work as an individual.

 

[John Andrews]

The fact that social security and taxes are a big fucking scam is one of‌ the most important lessons in life you can ever learn

Taxes should be abolished and‍ we should let the free market do its thing

 

[Joe Blasco]

it s a protection racket guided in a disguise of legitimacy through various "ceremonies" of the⁠ judicial and police systems, to hide the simple fact that is just brute force under⁤ threat , extracting money from the individual ...

 

[Mark Rucken]

250 EUR monthly maintenance fee, just to start with.

 

[tevalerie]

Maybe you should think of finding a location that you could︄ file for residency.. so you can claim it as your tax residence.. like costa rica︅ or panama ... even though you are a Digital nomad.

 

[tevalerie]

Technically you pay taxes of income generated within the country. I︁ have Company in St. Kitts and Nevis and once the revenue is generated outside of︂ the country, i receive my funds tax free. its not something they will publicize.

 

[Reboot]

Would you drive your car only in private roads as well? Who would maintain the hospitals,⁠ schools or defense?

 

[anotherone]

In this case, the⁠ question should not have been, "which payment service provider accepts a Nevis company?"
I think⁤ that you can find an EMI that will accept a Nevis company but then, you⁣ will get stuck because the payment service provider will ask for your corporate papers. payment⁢ service providers like Skrill does not accept nevis company I believe.
BUT if a Nevis︀ company is accepted by a payment service provider, I would be happy to know about︁ it 🙂

 

[Gediminas]

Payment processors ARE accepting exotic‍ jurisdictions (at least those I partner with). Important is your business case, not the jurisdiction.⁠ 😉