Turkish Citizen with Scottish LP

[drazen]

Hi,

I am a Turkish citizen having a Scottish LP. I have a bank account also, however after these last incidents regarding Russia, they cant accept Dollars which is very bad for my business. Doing nothing shady, in sports business. Need to find a trustable bank or an Emi very quickly who accepts dollars, has a card that I can withdraw cash , and will open an account very quickly. What can be the alternatives?

 

[Martin Everson]

Which bank are you currently using?

You may find dollar processing will be problematic in general with any EMI or small bank these days.

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

 

[Forester]

drazen said:
Hi,

I am a Turkish citizen having a Scottish LP.
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You are both director and UBO, I presume?

drazen said:
Doing nothing shady, in sports business.
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Could you elaborate more? I must admit I have no idea what you particularly mean...

drazen said:
Need to find a trustable bank or an Emi very quickly who accepts dollars, has a card that I can withdraw cash , and will open an account very quickly.
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A hard task, I would say 🙁. What are the destinations for incoming and outgoing payments (I mean countries) and (approximately) expected monthly turnover?

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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...

 

[JackAlabama]

drazen said:
Hi,

I am a Turkish citizen having a Scottish LP. I have a bank account also, however after these last incidents regarding Russia, they cant accept Dollars which is very bad for my business. Doing nothing shady, in sports business. Need to find a trustable bank or an Emi very quickly who accepts dollars, has a card that I can withdraw cash , and will open an account very quickly. What can be the alternatives?
Click to expand...

Try to get a US LLC. It should be up and running within about 10 days including bank

 

[drazen]

Forester said:
You are both director and UBO, I presume?

Could you elaborate more? I must admit I have no idea what you particularly mean...

A hard task, I would say 🙁. What are the destinations for incoming and outgoing payments (I mean countries) and (approximately) expected monthly turnover?
Click to expand...

---- YES , I am director and UBO

---- I am a sports agent and scout. Money comes from agency, scouting consulting and video edits.

-----USA, Turkey and France very mostly. Not really having monthly income, nothing comes for 5 months, and then 5 different payments can come in 3 days. But less than 75k in a year.

 

[Forester]

Drazen:

--- I am a sports agent and scout. Money comes from agency, scouting consulting and video edits.
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Oh well. Yes, clear business and nothing shady.

JackAlabama said:
Try to get a US LLC. It should be up and running within about 10 days including bank
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A good idea, if and only if
- @drazen's business can be transferred to another company without serious obstacles
”“ it is bearable re: taxing, as there would be a business done with US clients...

drazen said:
-----USA, Turkey and France very mostly. Not really having monthly income, nothing comes for 5 months, and then 5 different payments can come in 3 days. But less than 75k in a year.
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Aaah. Really a little bit problematic. US clients => USD inevitable, such a turnover that any complicated setup does not make sense, irregular payments (fortunately, not so high).

Some ideas that have come to my mind:
1. Airwallex could onboard you but it would not be very quick, some weeks, I guess.
2. Currenxie would be hopefully faster but they will not give you a card; nevertheless you can get some from Soldo.
3. Some UK EMI? I admit I am not so well oriented in this; I know that to get a bank account in a brick and mortar UK bank as a non-resident (or as a LTD with non-resident director) is in fact impossible...
4. GoSolo claims that they are able to set-up a UK entity with a non-UK director and manage an UK banking (also for USD, I hope). So if you can afford to transfer your business to a new company, it is a chance.

Just repeating the question from @Martin Everson: Could you share, which bank are you currently using? It perhaps can give some inspiration...

Last edited: Sep 22, 2022
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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...

 

[drazen]

Api, in Serbia.

 

[Forester]

drazen said:
Api, in Serbia.
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Well, so an another idea came to my mind: What about some banks in North Macedonia? Halkbank, Silk Road Bank, ProCredit are accustomed to foreign/offshore clients, AFAIK. They do not onboard online, I think; but it is not far from Turkey to travel (after an initial consultation maybe)...

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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...