Sole trader keeps getting refused, need a personal EMI account with USD, AUD and other main currencies.

[Bablo Wulfhram]

Marios said:
From personal experience, all my clients, legal entities with European and even offshore jurisdiction status, all have been allocated with dedicated IBANs in all major currencies EUR/USD/GBP
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Can you speak more on how they deal with corporate clients, ie financial institutions?

 

[Marios]

Bablo Wulfhram said:
Can you speak more on how they deal with corporate clients, ie financial institutions?
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They can consider corporate clients registered in a jurisdiction other than their list of prohibited countries and equally the UBOs should not be citizens from those countries. Although they have high-risk appetite regarding line of business activities, they are very selective. From licensed entities, the ones they are ready to consider are forex brokers. Concerning other types of licenses, MSBs, crypto-exchanges, Curacao gaming etc. there are other solutions, not this one in particular.

 

[Bablo Wulfhram]

Marios said:
They can consider corporate clients registered in a jurisdiction other than their list of prohibited countries and equally the UBOs should not be citizens from those countries. Although they have high-risk appetite regarding line of business activities, they are very selective. From licensed entities, the ones they are ready to consider are forex brokers. Concerning other types of licenses, MSBs, crypto-exchanges, Curacao gaming etc. there are other solutions, not this one in particular.
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In the case of forex brokers, do they provide a service of giving IBANs to each of the broker's customers for easier withdrawals/deposits? Or is this provided only to the FX corporate body? What about International Corporate Services Providers, Fund administrators? Do they deal with such or does this work on a case-by-case basis?

 

[Marios]

When it comes to licensed forex brokers, they are given 2 dedicated accounts. One for their operational activities and second, for the deposits and payouts of the client funds. International corporate service providers shouldn't be an issue and regarding Funds, I have introduced one Fund in the past and they showed interest to onboard, however as said, it is a case-by-case