OVZA
New Horizons Paraguay
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Whats your thoughts about Transferwise now?

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If it was that easy I believe no one were⁣ here to post on the forum! I don't believe this to be like you wrote⁢ it down here. Anyway it is worth to look into it if one is into︀ tax savings. Just don't forget, your name will be on the public register of companies︁ in Georgia!
 
you took this thread into a Georgia thread @Admin would you clean it?

Does someone‌ has epxerience to when TW is asking for documents for a transaction you either receive‍ or want to send to another party?
 
I dont know, I've been speaking with multiple accountants regarding virtual zone. Seems⁤ fine to me.
There is also a reason why its being hyped now. Regarding public⁣ register I dont care, my tax residency is non-CRS.

I'll stop about Georgia from here.⁢
 
Good idea, but did‌ you moved on and setup a company in Wyoming or you stoped the entire process?‍
 
I read TW keeps client's money at Barclays segregated accounts, so in case of TW‌ going bankrupt, there should be no risk in losing money, right?
Can we assume that‍ at the end of the day, it is "like" keeping money at Barclays but uninsured,⁠ since deposit guarantee scheme would not apply...?
Also how do they keep money segregated with⁤ Barclays if they are providing DE or BE IBANs...

Do they charge negative interest rates⁣ on EUR balances? Is there any maximum balance allowed to be held?
Does sending SWIFT⁢ EUR transfer outside EEA attract any charges? Does recipient gets paid in FULL (TW send︀ it as OUR)?

Do they really have nothing against incoming EUR and outgoing EUR without︁ any FX conversion, while keeping the account charges free?
 
I have not read about this at‍ all and can't find such fees on my account!

No charges I found and receiver gets all his money.⁣
 
no

I don't think so
if there is then it's higher than 200k

tried a few times, never managed to send⁠ it without 25EUR fee taken from the amount sent

no they don't care (speaking about hundreds of thousands account⁢ life time turnover)
 
Thanks. €25 for OUR SWIFT is not too bad.
Does your company name appear on‌ outgoing SWIFT transfers or Transferwise?

How long does it take to open business account with‍ them? Are they okay with trading + holding structures with nominee trust...?
 
2-3 days
you have to open a new personal account first (using different email)‍ for each company account you are opening with them

there are a few questions in⁠ the sign up form and then they usually ask for a brief description of your⁤ business - never had a problem, always approved (clean business every time though)

can't help here, my experience is only with EU-based limited companies
 
Thanks. I⁤ do have a clean business, however I have Malta trading with Cyprus holding and nominee⁣ trust.
Just wondering how comfortable they are with such setups if anyone has experience.
 
Where did you send this SWIFT to, country‍ ? I have made swift transfers without any fee?
 
okay, strange, I have not seen any swift transfer fee yet on my account. Made‌ a few to a provider in the UAE and Norway. Maybe others can supply with‍ their experience.
 
I have done EUR-EUR swift transfers to outside EU zone with Transferwise and my accounts‌ have been blocked after around one year. Transfer fee was 0,80 EUR per transaction.
 
I don't know but It was the same companies during one year. Transaction was without exchange‌ and for a cost at only 0,80 EUR per transaction. I assume that it was‍ not interesting for TW.
 
Did they provide any reason? Were your funds frozen for 60⁠ days as some are reporting?
 
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