Good bank and jurisdiction for private finance and self employed?

[pawlowb]

I hail from Poland and now am living in Denmark but will move to Sweden‌ next year and start online web shop selling homemade towels and desk covers I make‍ myself and become self employed but not company.

Foreseen profits are below 1000 euro per⁠ month. To you maybe it is not much when I read threads where 5 figures⁤ are not much but to me it is much money so please try understand and⁣ not laugh.

I sell to all planet but thinking critical most customers come from all⁢ Europe countries and only little come from other places because nobody want pay import duty︀ or 30 euro shipping cost and they have options in their country so why buy︁ and pay much. My web shop will be English so I will not target Sweden︂ but all Europe. I have wife who speak better English so she will write website︃ in good English.

I read articles here about offshore bank accounts and other webs Unfortunately︄ everything written with not Europe citizens in head.

I wish for privacy and security with︅ my business I will pay tax and no shady business. I heard many scandals with︆ banks so I want my money to stay secure. I like privacy and keep privacy︇ practice in internet and wish that as little information is shared with any body even︈ government but I understand some can not be avoided and am OK with it.

Being Europe citizen what are good options or jurisdictions for opening a business bank account?

Because it is not company business is seen like private finance only taxed so maybe better︉ is to open online bank like Wise? For private finance I want even more privacy︊ of course so maybe better keep separate banks but if yes then what you recommend︋ for private bank?

Thank you for helping.

 

[Sols]

It's not derision. It's just simple mathematics. If your company's profits are under 1,000 EUR per⁠ month, the costs are going to be higher than your taxes , potentially higher than⁤ the company's profits.

Most banks will not open accounts for⁢ such small businesses. The size of your business is more suitable for a local bank.︀ Opening accounts for non-resident foreigners is complex and associated with higher risks that for residents.︁ It has to be worth the bank's time to open an account for a non-resident.︂ Unfortunately, the size of your business is not large enough that banks will find it︃ interesting.

Focus on growing your business.

In your case, I would recommend selling through Etsy and leave the plans of foreign︈ companies and bank accounts to the future.

You can remain quite anonymous on Etsy. Buyers︉ don't get to know much about you. Etsy takes care of payments processing, VAT, and︊ simply send you a wire transfer with your money every week or month. Etsy also︋ helps you reach more customers through recommendations.

 

[Forester]

I agree with @Sols; and just to add: For a business model of an‌ online web shop it is crucial the payments processing. (I mean processing the payments from‍ your customers.) You can hardly expect that your customers will pay you through a bank⁠ transfer; they would like to use a payment card or some payment processor like Stripe,⁤ Paypal etc. It is more important for you to solve this, than to solve where⁣ to open a bank account. @Sols's advice to use Etsy (or any similar business⁢ environment / portal) solves the abovementioned task, too.