Seeking: Banking for a Gibraltar company

[stronco]

Hi,

I am looking for any suggestions which bank could onboard a Gibraltar company dealing with Real Estate in EU of all things.

So far the situation is:

Wise - on-boarded, but we know how unreliable they are
Bankera - currently not on-boarding GI because FATF (to be off the list this year)
Narvi - rejected without reason (and them trying)
Airwallex - could do it supposedly, but their quoted fees are a bit distasteful

Ideally would like to have SEPA access, but I understand that might be a tall order, would settle for a decent SWIFT.

Any ideas fellas?

 

[Sols]

Is the real estate in Gibraltar? Any connection to Gibraltar?

Toggle signature
This is the probably the answer to your question.

 

[stronco]

RE is in another EU country (Gib company can own RE in that country directly).

Last edited: Jan 26, 2024

 

[Sols]

Why the Gibraltar company then?

Asking because that's what banks/EMIs ask themselves when you submit the application. If your only tie to Gibraltar is zero tax, zero VAT, and non-EU/EEA, they're not going to be impressed.

Do you expect any FX? How would a bank/EMI make money your company?

Wise is probably a good fit for you. Maybe Zen or Paysera?

Assuming there's some FX going on, you can try WorldFirst, VertoFX, and Ebury.

Toggle signature
This is the probably the answer to your question.

 

[stronco]

First, thanks for taking the time to respond.

Sols said:
Why the Gibraltar company then?

Asking because that's what banks/EMIs ask themselves when you submit the application. If your only tie to Gibraltar is zero tax, zero VAT, and non-EU/EEA, they're not going to be impressed.
Click to expand...

GI allows us to operate in absolutely legal tax efficient manner. Nothing shady, everything above board. I have official letters from tax authority (from the country where RE is) confirming that what we are doing is allowed and lawful.

Sols said:
Do you expect any FX? How would a bank/EMI make money your company?
Click to expand...

Maybe FX, but I do not expect it. There are not going to be tons of transactions as we are just starting. Bank could charge on-boarding fees and monthly maintenance fees.

Sols said:
Wise is probably a good fit for you. Maybe Zen or Paysera?
Click to expand...

Will check Zen and Paysera if something can be done there. Wise has been established, however I am reluctant to actually use them as I have two other completely unrelated long standing company accounts there (one of them actually also in GI) tied to my Wise account and I'm afraid they would get shut down in case they don't like the development. Wise didn't ask any (or much) questions at on-boarding, so it's unclear to me if they are ok with the flow we are about to have.

Sols said:
Assuming there's some FX going on, you can try WorldFirst, VertoFX, and Ebury.
Click to expand...

I don't know yet who the RE buyers will be, technically buyer could be from anywhere, but I expect they will be locals. In that case everything happens in EUR.

Last edited: Jan 26, 2024

 

[Forester]

Sols said:
Maybe Zen or Paysera?
Click to expand...

If not too late to the party, I would perhaps add Verifo, in this category. TBMK, they are quite open and some issues are negotiable...

But generally, my first idea is Moneycorp Bank (https://www.moneycorpbank.com/business/international-business-account/, not to confuse with Welcome to moneycorp)

Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...